Coherus Oncology (NASDAQ:CHRS) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Coherus Oncology, Inc. (NASDAQ:CHRS) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.24 and traded as high as $1.49. Coherus Oncology shares last traded at $1.42, with a volume of 1,167,356 shares.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CHRS. Maxim Group upgraded Coherus Oncology from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research report on Thursday, September 4th. 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 reiterated a “sell (d)” rating on shares of Coherus Oncology in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.02.

Coherus Oncology Price Performance

The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $171.64 million, a PE ratio of 1.07 and a beta of 0.95. The stock has a 50-day moving average price of $1.37 and a 200 day moving average price of $1.24.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new position in Coherus Oncology during the third quarter worth approximately $26,000. Voya Investment Management LLC acquired a new stake in shares of Coherus Oncology in the 3rd quarter worth $28,000. International Assets Investment Management LLC acquired a new stake in shares of Coherus Oncology in the 2nd quarter worth $33,000. Corient Private Wealth LLC raised its holdings in shares of Coherus Oncology by 20.0% during the 2nd 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 during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Coherus Oncology by 108.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,620 shares of the biotechnology company’s stock valued at $44,000 after acquiring an additional 13,832 shares during the last quarter. Institutional investors and hedge funds own 72.82% of the company’s stock.

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.