Coherus Biosciences Inc (NASDAQ:CHRS) price on Wednesday, December 04, remained unchanged to $1.71.
A look at the stock’s price movement, the close in the last trading session was $1.71, moving within a range at $1.68 and $1.95. The beta value (5-Year monthly) was 0.693. Turning to its 52-week performance, $3.70 and $0.66 were the 52-week high and 52-week low respectively. Overall, CHRS moved 155.22% over the past month.
Coherus Biosciences Inc’s market cap currently stands at around $197.01 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 43.88M for the company’s revenue for the quarter, with a low and high estimate of 36.42M and 58.9M respectively. The average forecast suggests down to a -52.06% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 255.58M, representing a -0.65% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CHRS is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 3 recommend CHRS as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CHRS’s current price about 63.56% and 78.43% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 83.24, while 7-day volatility ratio is 18.54% and 15.70% in the 30-day chart. Further, Coherus Biosciences Inc (CHRS) has a beta value of 0.84, and an average true range (ATR) of 0.19. Analysts have given the company’s stock an average 52-week price target of $9, forecast between a low of $7 and high of $11. Looking at the price targets, the low is -309.36% off current price level while to achieve the yearly target high, price needs to move -543.27%. Nonetheless, investors will most likely welcome a -426.32% jump to $9 which is the analysts’ median price.
If we refocus on Coherus Biosciences Inc (NASDAQ:CHRS), historical trading data shows that trading volumes averaged 15.7 over the past 10 days and 4.73 million over the past 3 months. The company’s latest data on shares outstanding shows there are 115.21 million shares.
The 4.02% of Coherus Biosciences Inc’s shares are in the hands of company insiders while institutional holders own 66.08% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 33.04 million on 2024-11-15, giving us a short ratio of 12.34. The data shows that as of 2024-11-15 short interest in Coherus Biosciences Inc (CHRS) stood at 3346.0 of shares outstanding, with shares short rising to 29.85 million registered in 2024-10-15. Current price change has pushed the stock -48.65% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CHRS stock continues to rise going into the next quarter.
