In the latest trading session, 1.39 million Coherus BioSciences Inc. (NASDAQ:CHRS) shares changed hands as the company’s beta touched 0.88. With the company’s most recent per share price at $4.44 changed hands at -$0.48 or -9.79% at last look, the market valuation stands at $458.70M. CHRS’s current price is a discount, trading about -147.52% off its 52-week high of $10.99. The share price had its 52-week low at $3.60, which suggests the last value was 18.92% up since then. When we look at Coherus BioSciences Inc.’s average trading volume, we note the 3-month average coming to 3.50 million.
Analysts gave the Coherus BioSciences Inc. (CHRS) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 0 out of 9 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 2 recommended CHRS as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Coherus BioSciences Inc.’s EPS for the current quarter is expected to be -$0.29.
Coherus BioSciences Inc. (NASDAQ:CHRS) trade information
Instantly CHRS was in red as seen in intraday trades today. With action -12.11%, the performance over the past five days has been red. The drop to weekly highs of 5.18 on Friday, 09/15/23 subtracted -9.79% to the stock’s daily price. The company’s shares are showing year-to-date downside of -43.96%, with the 5-day performance at -12.11% in the red. However, in the 30-day time frame, Coherus BioSciences Inc. (NASDAQ:CHRS) is 2.03% up.
The consensus price target for the stock as assigned by Wall Street analysts is $12.75, meaning bulls need an upside of 65.18% from its recent market value. According to analyst projections, CHRS’s forecast low is $7.00 with $20.00 as the target high. To hit the forecast high, the stock’s price needs a -350.45% plunge from its current level, while the stock would need to soar -57.66% for it to hit the projected low.
Coherus BioSciences Inc. (CHRS) estimates and forecasts
Data shows that the Coherus BioSciences Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -27.00% over the past 6 months, a 50.33% in annual growth rate that is considerably higher than the industry average of 11.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Coherus BioSciences Inc. will rise 69.80%, while the growth in revenue is estimated to hit 91.70% for the next quarter. Year-over-year growth is forecast to reach 36.90% up from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $83.56 million. 8 analysts are of the opinion that Coherus BioSciences Inc.’s revenue for the quarter ending Dec 2023 will be $112.63 million. The company’s revenue for the corresponding quarters a year ago was $56.91 million and $45.35 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 46.80%. The estimates for the next quarter sales put growth at 148.30%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 3.50%. The 2023 estimates are for Coherus BioSciences Inc. earnings to increase by 1.20%.
Coherus BioSciences Inc. is expected to release its next quarterly earnings report between November 06 and November 10.
Coherus BioSciences Inc. (NASDAQ:CHRS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.61% of Coherus BioSciences Inc. shares while 92.78% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 94.29%. There are 92.78% institutions holding the Coherus BioSciences Inc. stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 16.71% of the shares, roughly 15.79 million CHRS shares worth $71.67 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 9.37% or 8.85 million shares worth $40.18 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. With 4.68 million shares estimated at $21.25 million under it, the former controlled 4.95% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.89% of the shares, roughly 2.73 million shares worth around $12.4 million.