Coherus BioSciences faced challenges with their Q4 financial results, causing a drop in their stock value on March 13, 2024. The company’s earnings report for the fourth quarter showed a net revenue of $91.5 million, with a total of $257.2 million for the entire year of 2023. In response, Coherus implemented a corporate restructuring plan centered around oncology, resulting in a 30% reduction in staff and annual cost savings exceeding $25 million. Despite these setbacks, the company successfully launched LOQTORZI™ and UDENYCA ONBODY™ in Q1 2024. As a result of these developments, Coherus BioSciences’ shares plummeted by 13% to $2.00 following the news.
Coherus BioSciences Inc. (CHRS) Stock Fluctuates on March 13, 2024: Positive Momentum Despite After-Hours Decline
On March 13, 2024, Coherus BioSciences Inc. (CHRS) experienced some fluctuations in its stock performance. According to data from CNN Money, CHRS was trading near the bottom of its 52-week range and below its 200-day simple moving average. This indicates that the stock may be facing some downward pressure in the market.
Despite this, CHRS saw a slight increase in its stock price on March 13. The price of CHRS shares rose by $0.06, representing a 2.68% increase from the previous market close. The stock closed at $2.30, showing some positive momentum for investors.
However, after-hours trading saw a decline in CHRS stock price. The stock dropped by $0.14, indicating that there may be some volatility in the market for CHRS in the near future.
Overall, the performance of CHRS stock on March 13, 2024, was a mix of both positive and negative movements. Investors should keep an eye on the stock’s performance in the coming days.
CHRS Stock Performance Analysis: Revenue Decline But Positive Signs of Improvement in Net Income and EPS
On March 13, 2024, CHRS stock had a mixed performance based on the financial data provided by CNN Money. The company’s total revenue for the past year was $211.04 million, which decreased by 35.37% compared to the previous year. However, the total revenue for the most recent quarter was $74.57 million, showing a 27.0% increase from the previous quarter.
In terms of net income, CHRS reported a net loss of $291.75 million for the past year, which was an improvement of 1.62% compared to the previous year. The net loss for the most recent quarter was $39.64 million, showing a 7.53% increase from the previous quarter.
Earnings per share (EPS) for CHRS were -$3.76 for the past year, which was a 1.23% increase from the previous year. The EPS for the most recent quarter was -$0.41, showing a significant 17.43% increase from the previous quarter.
Overall, CHRS stock showed some positive signs of improvement in terms of net income and EPS compared to the previous year and quarter. Investors should closely monitor the company’s financial performance and future outlook before making any investment decisions.
