Coherus BioSciences, Inc. (NASDAQ:CHRS) is one of the best performers on the stock market today. At current price of $18.26, the shares have already added 0.7 points (3.99% higher) from its previous close of $17.56. Should you buy or avoid them? The stock sets an active trading volume day with a reported 530679 contracts so far this session. CHRS shares had a relatively better volume day versus average trading capacity of 846.06 thousand shares, but with a 63.83 million float and a 9.07% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CHRS stock indicates that the average analyst price target is $28.6 per share. This means the stock has a potential increase of 56.63% from where the CHRS share price has been trading recently which is between $17.05 and $17.72.
The shorts are running away from Coherus BioSciences, Inc. (CHRS) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in CHRS shares. While short interest still represents only 11.16% of CHRS’s float, the number of shares shorted have fallen by -99316. The number of shares shorted fell to 7024783 shares, down from 7124099 shares during the preceding fortnight. With average daily trading volumes at 782382 shares, days to cover increased to about 5.720371 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of CHRS earnings conference call or presentation 9-May-19 8:30pm GMT” and dated May 15, 2019.
During the recent trading session for Coherus BioSciences, Inc. (NASDAQ:CHRS), the company witnessed their stock rise $0.82 over a week and surge $3.58 from the price 20 days ago. When compared to their established 52-week high of $20.66, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/28/18. The recent low of $8.32 stood for a -11.63% since 01/04/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 3.59 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Coherus BioSciences, Inc., the two-week RSI stands at 69.74. This figure suggests that CHRS stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CHRS readings is similarly very revealing as it has a stochastic reading of 77.87% at this stage. This figure means that CHRS share price today is being oversold.
Technical chart claims that Coherus BioSciences, Inc. (CHRS) would settle between $17.84/share to $18.11/share level. However, if the stock price goes below the $17.17 mark, then the market for Coherus BioSciences, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $16.77 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.76. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at H.C. Wainwright, assumed coverage of CHRS assigning Buy rating, according to their opinion released on May 07. H.C. Wainwright, analysts launched coverage of Coherus BioSciences, Inc. (NASDAQ:CHRS) stock with a Buy recommendation, according to their flash note issued to investors on August 28. Analysts at Maxim Group are sticking to their Buy stance. However, on March 09, they lifted price target for these shares to $15 from $20.
CHRS equity has an average rating of 1.67, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 6 analysts rated Coherus BioSciences, Inc. (NASDAQ:CHRS) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, CHRS stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 4.21 while for the average stock in the same group, the multiple is 49.5.