In the last trading session, 5.08 million shares of the Coherus Biosciences Inc (NASDAQ:CHRS) were traded, and its beta was 0.54. Most recently the company’s share price was $2.39, and it changed around $0.18 or 8.14% from the last close, which brings the market valuation of the company to $266.15M. CHRS currently trades at a discount to its 52-week high of $8.65, offering almost -261.92% off that amount. The share price’s 52-week low was $1.43, which indicates that the current value has risen by an impressive 40.17% since then. We note from Coherus Biosciences Inc’s average daily trading volume that its 10-day average is 2.96 million shares, with the 3-month average coming to 6.12 million.
Coherus Biosciences Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.60. If we narrow it down even further, the data shows that 0 out of 8 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 0 recommended CHRS as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Coherus Biosciences Inc is expected to report earnings per share of -$0.12 for the current quarter.
Coherus Biosciences Inc (NASDAQ:CHRS) trade information
Instantly CHRS has showed a green trend with a performance of 8.14% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -28.23% year-to-date, but still down -0.83% over the last five days. On the other hand, Coherus Biosciences Inc (NASDAQ:CHRS) is 3.02% up in the 30-day period. We can see from the shorts that 25.32 million shares have been sold at a short interest cover period of 5.09 day(s).
The consensus price target as assigned by Wall Street analysts is $9, which translates to bulls needing to increase their stock price by 73.44% from its current value. Analyst projections state that CHRS is forecast to be at a low of $7 and a high of $11.
Coherus Biosciences Inc (CHRS) estimates and forecasts
Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 80.00% in revenue this quarter, and will report an increase of 69.30% in the next quarter. The year-over-year growth rate is expected to be 24.30%, up from the previous year.
Consensus estimates provided by 10 financial analysts predict the company will bring in an average of $96.4 million in revenue for the current quarter. 5 analysts expect Coherus Biosciences Inc to make $91.98 million in revenue for the quarter ending Mar 2024. The company’s sales for the same quarters a year ago were $45.35 million and $47.44 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 112.60%. Forecasts for the next quarter put sales growth at 93.90%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 3.45%.
CHRS Dividends
Coherus Biosciences Inc’s next quarterly earnings report is expected to be released on March 13.
Coherus Biosciences Inc (NASDAQ:CHRS)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.37% of Coherus Biosciences Inc shares, and 79.00% of them are in the hands of institutional investors. The stock currently has a share float of 80.09%. Coherus Biosciences Inc stock is held by 222 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 16.71% of the shares, which is about 15.79 million shares worth $67.41 million.
Vanguard Group Inc, with 9.37% or 8.85 million shares worth $37.79 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and JP Morgan Small Cap Growth Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 2.73 million shares worth $11.66 million, making up 2.89% of all outstanding shares. On the other hand, JP Morgan Small Cap Growth Fund held roughly 2.44 million shares worth around $10.41 million, which represents about 2.58% of the total shares outstanding.
