Coherus Oncology (NASDAQ:CHRS) Stock Crosses Above 200 Day Moving Average – Here’s Why

Shares of Coherus Oncology, Inc. (NASDAQ:CHRS) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.62 and traded as high as $1.7350. Coherus Oncology shares last traded at $1.66, with a volume of 1,191,567 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently commented on CHRS. Wall Street Zen upgraded shares of Coherus Oncology from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings upgraded shares of Coherus Oncology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Finally, Guggenheim began coverage on shares of Coherus Oncology in a research note on Monday, May 11th. They set a “buy” rating and a $12.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.67.

Coherus Oncology Stock Performance

The business has a fifty day moving average of $1.71 and a 200 day moving average of $1.63. The company has a market cap of $245.26 million, a P/E ratio of 0.95 and a beta of 1.01. The company has a quick ratio of 1.52, a current ratio of 1.56 and a debt-to-equity ratio of 0.47.

Coherus Oncology (NASDAQ:CHRS) last released its quarterly earnings results on Monday, May 11th. The biotechnology company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.01. The business had revenue of $12.31 million for the quarter, compared to analysts’ expectations of $14.22 million. Coherus Oncology had a net margin of 397.30% and a negative return on equity of 198.90%. On average, equities analysts predict that Coherus Oncology, Inc. will post -0.93 EPS for the current year.

Institutional Investors Weigh In On Coherus Oncology

Several institutional investors and hedge funds have recently modified their holdings of CHRS. Millennium Management LLC purchased a new stake in shares of Coherus Oncology in the 4th quarter worth about $938,000. Sei Investments Co. lifted its position in shares of Coherus Oncology by 492.2% in the 1st quarter. Sei Investments Co. now owns 453,763 shares of the biotechnology company’s stock worth $767,000 after purchasing an additional 377,134 shares during the period. Simplify Asset Management Inc. purchased a new stake in shares of Coherus Oncology in the 1st quarter worth about $428,000. Panagora Asset Management Inc. lifted its position in shares of Coherus Oncology by 17.8% in the 4th quarter. Panagora Asset Management Inc. now owns 1,620,271 shares of the biotechnology company’s stock worth $2,301,000 after purchasing an additional 244,303 shares during the period. Finally, UBS Group AG lifted its position in shares of Coherus Oncology by 38.5% in the 3rd quarter. UBS Group AG now owns 795,941 shares of the biotechnology company’s stock worth $1,305,000 after purchasing an additional 221,410 shares during the period. 72.82% of the stock is owned by hedge funds and other institutional investors.

About Coherus Oncology

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.