Ready to Jump After Recent Trade: Coherus BioSciences Inc. (CHRS)

Coherus BioSciences Inc. (NASDAQ: CHRS) stock jumped 1.77% on Monday to $9.18 against a previous-day closing price of $9.02. With 0.96 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.28 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $9.32 whereas the lowest price it dropped to was $8.89. The 52-week range on CHRS shows that it touched its highest point at $14.11 and its lowest point at $5.58 during that stretch. It currently has a 1-year price target of $17.75. Beta for the stock currently stands at 0.88.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CHRS was down-trending over the past week, with a drop of -12.15%, but this was up by 29.30% over a month. Three-month performance surged to 12.92% while six-month performance rose 28.03%. The stock lost -27.83% in the past year, while it has gained 15.91% so far this year. A look at the trailing 12-month EPS for CHRS yields -3.60 with Next year EPS estimates of -1.21. For the next quarter, that number is -0.69. This implies an EPS growth rate of -334.40% for this year and 64.00% for next year.

Float and Shares Shorts:

At present, 77.75 million CHRS shares are outstanding with a float of 71.61 million shares on hand for trading. In addition to Mr. Dennis M. Lanfear as the firm’s Chairman, Pres & CEO, Mr. McDavid Stilwell serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 106.11% of CHRS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.72% of CHRS, in contrast to 42.65% held by mutual funds. Shares owned by individuals account for 27.96%. As the largest shareholder in CHRS with 14.38% of the stake, BlackRock Fund Advisors holds 11,183,875 shares worth 11,183,875. A second-largest stockholder of CHRS, Temasek Holdings Pte Ltd., holds 7,381,116 shares, controlling over 9.49% of the firm’s shares. AllianceBernstein LP is the third largest shareholder in CHRS, holding 6,106,861 shares or 7.85% stake. With a 6.15% stake in CHRS, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 4,780,126 shares are owned by the mutual fund manager. The SPDR S&P Biotech ETF, which owns about 5.92% of CHRS stock, is the second-largest Mutual Fund holder. It holds 4,606,763 shares valued at 36.49 million. JPMorgan Small Cap Growth Fund holds 3.10% of the stake in CHRS, owning 2,409,097 shares worth 19.08 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CHRS since 8 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CHRS analysts setting a high price target of $30.00 and a low target of $9.00, the average target price over the next 12 months is $17.75. Based on these targets, CHRS could surge 226.8% to reach the target high and fall by -1.96% to reach the target low. Reaching the average price target will result in a growth of 93.36% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CHRS will report FY 2022 earnings on 02/16/2024. Analysts have provided yearly estimates in a range of -$2.47 being high and -$4.55 being low. For CHRS, this leads to a yearly average estimate of -$3.71. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Coherus BioSciences Inc. surprised analysts by -$0.39 when it reported -$1.11 EPS against a consensus estimate of -$0.72. The surprise factor in the prior quarter was $0.13. Based on analyst estimates, the high estimate for the next quarter is -$0.65 and the low estimate is -$0.91. The average estimate for the next quarter is thus -$0.80.

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