Coherus BioSciences Inc. (NASDAQ: CHRS) stock fell -7.93% on Monday to $4.53 against a previous-day closing price of $4.92. With 4.04 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.5 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $4.8700 whereas the lowest price it dropped to was $4.3700. The 52-week range on CHRS shows that it touched its highest point at $10.99 and its lowest point at $3.60 during that stretch. It currently has a 1-year price target of $12.75. Beta for the stock currently stands at 0.88.
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 -10.30%, but this was up by 4.14% over a month. Three-month performance surged to 9.69% while six-month performance fell -25.49%. The stock lost -56.98% in the past year, while it has lost -42.80% so far this year. A look at the trailing 12-month EPS for CHRS yields -3.32 with Next year EPS estimates of 0.22. For the next quarter, that number is -0.29. This implies an EPS growth rate of 1.20% for this year and 113.80% for next year.
Float and Shares Shorts:
At present, 106.39 million CHRS shares are outstanding with a float of 101.84 million shares on hand for trading. On Aug 30, 2023, short shares totaled 15.65 million, which was 16.57% higher than short shares on Jul 30, 2023. In addition to Mr. Dennis M. Lanfear as the firm’s Chairman, Pres & CEO, Mr. McDavid Stilwell serves as its Chief Financial Officer.
Through their ownership of 92.78% of CHRS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.56% of CHRS, in contrast to 42.33% held by mutual funds. Shares owned by individuals account for 23.29%. As the largest shareholder in CHRS with 13.47% of the stake, BlackRock Fund Advisors holds 12,720,796 shares worth 12,720,796. A second-largest stockholder of CHRS, The Vanguard Group, Inc., holds 8,656,712 shares, controlling over 9.16% of the firm’s shares. Temasek Holdings Pte Ltd. is the third largest shareholder in CHRS, holding 7,381,116 shares or 7.81% stake. With a 4.95% stake in CHRS, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 4,680,051 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.89% of CHRS stock, is the second-largest Mutual Fund holder. It holds 2,731,727 shares valued at 14.56 million. JPMorgan Small Cap Growth Fund holds 2.55% of the stake in CHRS, owning 2,406,431 shares worth 12.83 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, CHRS reported revenue of $60.15M and operating income of -$44.01M. The EBITDA in the recently reported quarter was -$42.68M and diluted EPS was -$0.65.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CHRS since 0 analysts follow the stock currently. 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 $20.00 and a low target of $7.00, the average target price over the next 12 months is $12.75. Based on these targets, CHRS could surge 341.5% to reach the target high and rise by 54.53% to reach the target low. Reaching the average price target will result in a growth of 181.46% 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.
Summary of Insider Activity:
Insiders traded CHRS stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 4 while that of sell transactions has risen to 10 over the past year. The total number of shares bought during that period was 178,750 while 56,868 shares were sold.