In the last trading session, 1.92 million Coherus Biosciences Inc (NASDAQ:CHRS) shares changed hands as the company’s beta touched 0.54. With the company’s per share price at $2.28 changed hands at -$0.05 or -2.15% during last session, the market valuation stood at $253.90M. CHRS’s last price was a discount, traded about -279.39% off its 52-week high of $8.65. The share price had its 52-week low at $1.43, which suggests the last value was 37.28% up since then. When we look at Coherus Biosciences Inc’s average trading volume, we note the 10-day average is 3.2 million shares, with the 3-month average coming to 5.96 million.
Coherus Biosciences Inc (NASDAQ:CHRS) trade information
Instantly CHRS was in red as seen at the end of in last trading. With action 2.70%, the performance over the past five days has been green. The drop to weekly highs of 2.64 subtracted -2.15% to the stock’s daily price. The company’s shares are showing year-to-date downside of -31.53%, with the 5-day performance at 2.70% in the green. However, in the 30-day time frame, Coherus Biosciences Inc (NASDAQ:CHRS) is -11.63% down. Looking at the short shares, we see there were 24.2 million shares sold at short interest cover period of 7.47 days.
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 -48.88% over the past 6 months, a 100.51% in annual growth rate that is considerably higher than the industry average of 12.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Coherus Biosciences Inc will rise 69.30%, while the growth in revenue is estimated to hit 42.10% for the next quarter. Year-over-year growth is forecast to reach 1.80% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $81.7 million. 5 analysts are of the opinion that Coherus Biosciences Inc’s revenue for the quarter ending Jun 2024 will be $53.68 million. The company’s revenue for the corresponding quarters a year ago was $47.44 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 72.20%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 4.73%. The 2024 estimates are for Coherus Biosciences Inc earnings to increase by 93.44%.
CHRS Dividends
Coherus Biosciences Inc is expected to release its next quarterly earnings report on March 13.
Coherus Biosciences Inc (NASDAQ:CHRS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.35% of Coherus Biosciences Inc shares while 78.04% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 79.12%. There are 78.04% 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 $67.41 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 9.37% or 8.85 million shares worth $37.79 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and JP Morgan Small Cap Growth Fund. With 2.73 million shares estimated at $11.66 million under it, the former controlled 2.89% of total outstanding shares. On the other hand, JP Morgan Small Cap Growth Fund held about 2.58% of the shares, roughly 2.44 million shares worth around $10.41 million.
