Robert W. Baird Initiates Coverage on Coherus BioSciences (NASDAQ:CHRS)

Investment analysts at Robert W. Baird started coverage on shares of Coherus BioSciences (NASDAQ:CHRS) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm set an “outperform” rating and a $11.00 price target on the biotechnology company’s stock. Robert W. Baird’s price target would indicate a potential upside of 416.43% from the stock’s current price.

CHRS has been the subject of several other reports. StockNews.com assumed coverage on Coherus BioSciences in a research report on Thursday, October 5th. They set a “hold” rating for the company. Citigroup assumed coverage on Coherus BioSciences in a research report on Monday, July 24th. They set a “buy” rating and a $12.00 target price for the company. HC Wainwright decreased their target price on Coherus BioSciences from $20.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, November 7th. Barclays decreased their target price on Coherus BioSciences from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Monday, October 23rd. Finally, Maxim Group lowered Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Coherus BioSciences currently has an average rating of “Moderate Buy” and an average target price of $12.78.

Coherus BioSciences Price Performance

Shares of Coherus BioSciences stock opened at $2.13 on Friday. Coherus BioSciences has a 1 year low of $1.43 and a 1 year high of $10.99. The firm has a market cap of $237.20 million, a PE ratio of -0.81 and a beta of 0.87. The stock has a fifty day moving average price of $3.45 and a 200-day moving average price of $4.32.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Coherus BioSciences by 9.7% during the 2nd quarter. BlackRock Inc. now owns 15,787,138 shares of the biotechnology company’s stock valued at $67,411,000 after buying an additional 1,389,573 shares in the last quarter. State Street Corp grew its holdings in Coherus BioSciences by 23.6% during the 2nd quarter. State Street Corp now owns 6,383,103 shares of the biotechnology company’s stock valued at $46,214,000 after buying an additional 1,218,951 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Coherus BioSciences by 1.8% during the 4th quarter. Alliancebernstein L.P. now owns 6,217,558 shares of the biotechnology company’s stock valued at $49,243,000 after buying an additional 110,697 shares in the last quarter. Vanguard Group Inc. grew its holdings in Coherus BioSciences by 7.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,228,701 shares of the biotechnology company’s stock valued at $50,248,000 after buying an additional 345,286 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Coherus BioSciences by 3,105.3% during the 3rd quarter. Barclays PLC now owns 2,375,557 shares of the biotechnology company’s stock valued at $8,884,000 after acquiring an additional 2,301,444 shares during the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Coherus BioSciences Company Profile

Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the biosimilar and immuno-oncology market primarily in the United States. The company provides UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony stimulating factor; and CIMERLI, a biosimilar to Lucentis, a biosimilar product interchangeable with Lucentis for the treatment of neovascular age-related macular degeneration, macular edema following retinal vein occlusion, diabetic macular edema, diabetic retinopathy, and myopic choroidal neovascularization in the United States.