Coherus Biosciences Inc (NASDAQ:CHRS) shares, rose in value, with the stock price up by 0.85% to the previous day’s close as strong demand from buyers drove the stock to $2.38.
Actively observing the price movement in the last trading, the stock closed the session at $2.36. The value of beta (5-year monthly) was 0.54. Referring to stock’s 52-week performance, its high was $8.65, and the low was $1.43. On the whole, CHRS has fluctuated by 4.85% over the past month.
With the market capitalization of Coherus Biosciences Inc currently standing at about $265.04 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.23, which is expected to increase to -$0.04 for fiscal year -$0.72 and then to about $0.07 by fiscal year 2025. Data indicates that the EPS growth is expected to be 63.60% in 2025, while the next year’s EPS growth is forecast to be 109.70%.
Analysts have estimated the company’s revenue for the quarter at $81.7 million, with a low estimate of $47.07 million and a high estimate of $102 million. According to the average forecast, sales growth in current quarter could jump up 72.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $261.92 million, representing an increase of 1.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CHRS’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 25% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CHRS currently trading nearly 2.74% and -0.13% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 50.54, while the 7-day volatility ratio is showing 6.21% which for the 30-day chart, stands at 8.06%. Furthermore, Coherus Biosciences Inc (CHRS)’s beta value is 0.51, and its average true range (ATR) is 0.18.
A comparison of Coherus Biosciences Inc (CHRS) with its peers suggests the former has fared considerably weaker in the market. CHRS showed an intraday change of 0.85% in last session, and over the past year, it shrunk by -65.20%%.
Data on historical trading for Coherus Biosciences Inc (NASDAQ:CHRS) indicates that the trading volumes over the past 10 days have averaged 2.53 million and over the past 3 months, they’ve averaged 4.08 million. According to company’s latest data on outstanding shares, there are 112.22 million shares outstanding.
Nearly 4.67% of Coherus Biosciences Inc’s shares belong to company insiders and institutional investors own 76.46% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 25.91 million shares as on Mar 15, 2024, resulting in a short ratio of 9.28. According to the data, the short interest in Coherus Biosciences Inc (CHRS) stood at 22.99% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 25.32 million. The stock has fallen by -28.53% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CHRS stock heading into the next quarter.
