As of Friday close, Coherus BioSciences Inc.’s (NASDAQ:CHRS) stock was up $0.32, moving up 7.73 percent to $4.46. The average number of shares traded per day over the past five days has been 2,949,960 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.46 fall in that time frame. In the last twenty days, the average volume was 3,695,700, while in the previous 50 days, it was 2,917,264.
Since last month, CHRS stock retreated -3.88%. Shares of the company fell to $4.12 on 09/21/23, the lowest level in the past month. A 52-week high of $10.99 was reached on 01/13/23 after having rallying from a 52-week low of $3.60. Since the beginning of this year, CHRS’s stock price has dropped by -43.69% or -$3.46, and marked a new high 3 times. However, the stock has declined by -59.42% since its 52-week high.
Financial Health
In the three months ended June 29, Coherus BioSciences Inc.’s quick ratio stood at 1.90, while its current ratio was 2.30, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 49.90% percent. Based on annual data, CHRS earned $140.96 million in gross profit and brought in $211.04 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -78.20%. Return on equity (ROE) for the past 12 months was 174.40%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. CHRS’s revenue fell -2.44% to $32.44 million during the quarter, while net income inched up to $58.72 million. While analysts expected Coherus BioSciences Inc. to report -$0.48 quarterly earnings, the actual figure was -$0.38 per share, beating the consensus estimate by 20.80%. During the quarter, the company generated -$33.66 million in EBITDA. The liabilities of Coherus BioSciences Inc. were 644.36 million at the end of its most recent quarter ended June 29, and its total debt was $479.26 million. The value of shareholders’ equity is $94.47 million.
Technical Picture
This quick technical analysis looks at Coherus BioSciences Inc.’s (CHRS) price momentum. With a historical volatility rate of 87.11%, the RSI 9-day stood at 42.60% on 22 September.
With respect to its five-day moving average, the current Coherus BioSciences Inc. price is down by -9.35% percent or -$0.46. At present, CHRS shares trade -2.41% below its 20-day simple moving average and -41.85% percent below its 100-day simple moving average. However, the stock is currently trading approximately +4.45% above its SMA50 and -33.83% below its SMA200.
Stochastic coefficient K was 14.12% and Stochastic coefficient D was 14.21%, while ATR was 0.32. Given the Stochastic reading of 28.10% for the 14-day period, the RSI (14) reading has been calculated as 44.37%. As of today, the MACD Oscillator reading stands at -0.26, while the 14-day reading stands at -0.37.
Analyst Ratings
Citigroup launched its rating on Coherus BioSciences Inc. (NASDAQ: CHRS) to a Buy in a note to investors on July 24, 2023. Coherus BioSciences Inc. (CHRS) has been rated Overweight by analysts. According to 0 brokerage firms, CHRS is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Coherus BioSciences Inc. stock as buy, with 6 recommending it as overweight.
With a median target price of $12.50, the current consensus forecast for the stock is $7.00 – $20.00. Based on these forecasts, analysts predict Coherus BioSciences Inc. (CHRS) will achieve an average price target of $12.75.
