Robert W. Baird Has Lowered Expectations for Coherus BioSciences (NASDAQ:CHRS) Stock Price

Coherus BioSciences (NASDAQ:CHRS - Free Report) had its price objective decreased by Robert W. Baird from $8.00 to $4.00 in a research note issued to investors on Friday,Benzinga reports. Robert W. Baird currently has an outperform rating on the biotechnology company's stock.

A number of other equities research analysts have also recently commented on the stock. StockNews.com cut shares of Coherus BioSciences from a "buy" rating to a "hold" rating in a report on Saturday, October 19th. HC Wainwright reissued a "buy" rating and set a $12.00 target price on shares of Coherus BioSciences in a report on Thursday. Finally, UBS Group lowered Coherus BioSciences from a "buy" rating to a "neutral" rating and cut their price target for the stock from $4.00 to $1.50 in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $6.13.

Coherus BioSciences Trading Down 1.2 %

NASDAQ CHRS traded down $0.01 during mid-day trading on Friday, hitting $0.81. The company's stock had a trading volume of 3,525,206 shares, compared to its average volume of 2,673,175. The firm has a market capitalization of $93.32 million, a price-to-earnings ratio of -10.19 and a beta of 0.69. Coherus BioSciences has a twelve month low of $0.66 and a twelve month high of $3.70. The company's 50 day simple moving average is $1.01 and its 200 day simple moving average is $1.46.

Coherus BioSciences (NASDAQ:CHRS - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.10. The firm had revenue of $64.98 million for the quarter, compared to analysts' expectations of $57.08 million. As a group, research analysts forecast that Coherus BioSciences will post -1.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its stake in shares of Coherus BioSciences by 2,672.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 20,657 shares of the biotechnology company's stock valued at $36,000 after purchasing an additional 19,912 shares during the period. TIAA Trust National Association purchased a new position in shares of Coherus BioSciences during the second quarter valued at approximately $47,000. Bayesian Capital Management LP bought a new position in Coherus BioSciences during the first quarter valued at approximately $56,000. Price T Rowe Associates Inc. MD increased its position in Coherus BioSciences by 32.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,851 shares of the biotechnology company's stock valued at $74,000 after acquiring an additional 7,608 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Coherus BioSciences during the first quarter valued at approximately $94,000. 72.82% of the stock is owned by hedge funds and other institutional investors.

Coherus BioSciences Company Profile

Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the research, development, and commercialization of cancer treatments primarily in the United States. The company develops UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony stimulating factor; LOQTORZI, a novel PD-1 inhibitor; and Casdozokitug, an investigational recombinant human immunoglobulin isotype G1 (IgG1) monoclonal antibody targeting interleukin 27.