Coherus Oncology (NASDAQ:CHRS) Stock Passes Above 200-Day Moving Average – What’s Next?

Coherus Oncology, Inc. (NASDAQ:CHRS)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.38 and traded as high as $2.37. Coherus Oncology shares last traded at $2.16, with a volume of 1,924,115 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Oppenheimer assumed coverage on shares of Coherus Oncology in a report on Thursday, January 22nd. They issued an “outperform” rating and a $10.00 price target on the stock. Wall Street Zen raised shares of Coherus Oncology from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Coherus Oncology in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.51.

Coherus Oncology Price Performance

The stock has a market capitalization of $261.08 million, a PE ratio of 1.62 and a beta of 0.96. The firm’s 50 day simple moving average is $1.51 and its 200 day simple moving average is $1.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 1.23.

Coherus Oncology (NASDAQ:CHRS) last posted its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.01. The business had revenue of $11.57 million for the quarter, compared to analysts’ expectations of $13.41 million. As a group, equities analysts forecast that Coherus Oncology, Inc. will post -1.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Coherus Oncology

Several hedge funds and other institutional investors have recently modified their holdings of CHRS. CWM LLC increased its holdings in Coherus Oncology by 13.8% during the 4th quarter. CWM LLC now owns 40,334 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 4,902 shares during the period. Jefferies Financial Group Inc. boosted its position in shares of Coherus Oncology by 2.5% in the 3rd quarter. Jefferies Financial Group Inc. now owns 325,625 shares of the biotechnology company’s stock worth $534,000 after purchasing an additional 8,000 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Coherus Oncology by 20.0% in the second quarter. Corient Private Wealth LLC now owns 60,000 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 10,000 shares in the last quarter. Tejara Capital Ltd boosted its stake in Coherus Oncology by 1.7% in the 2nd quarter. Tejara Capital Ltd now owns 698,770 shares of the biotechnology company’s stock worth $511,000 after purchasing an additional 11,552 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Coherus Oncology by 108.2% in the third quarter. BNP Paribas Financial Markets now owns 26,620 shares of the biotechnology company’s stock worth $44,000 after buying an additional 13,832 shares in the last quarter. 72.82% of the stock is owned by institutional investors.

Coherus Oncology Company Profile

Coherus Oncology, Inc is a commercial-stage biopharmaceutical company focused on the development, manufacturing and commercialization of biologic therapies for oncology support and immuno-oncology. Founded in 2010 and headquartered in Redwood City, California, Coherus specializes in biosimilar versions of established oncology agents as well as novel immunotherapy candidates.

The company’s lead marketed products include Udenyca (pegfilgrastim-cbqv) and Fulphila (pegfilgrastim-jmdb), biosimilars to Amgen’s Neulasta, which are designed to reduce the incidence of infection in patients undergoing myelosuppressive chemotherapy.