Coherus Oncology (NASDAQ:CHRS) Share Price Passes Above 200 Day Moving Average – What’s Next?
by Michael Walen · The Markets DailyCoherus Oncology, Inc. (NASDAQ:CHRS – Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.58 and traded as high as $1.65. Coherus Oncology shares last traded at $1.64, with a volume of 1,245,744 shares changing hands.
Analyst Ratings Changes
Several analysts have issued reports on CHRS shares. Wall Street Zen raised shares of Coherus Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Oppenheimer started coverage on shares of Coherus Oncology in a research note on Thursday, January 22nd. They set an “outperform” rating and a $10.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.51.
Get Our Latest Stock Report on CHRS
Coherus Oncology Price Performance
The business has a fifty day moving average of $1.82 and a two-hundred day moving average of $1.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.45 and a current ratio of 1.47. The firm has a market capitalization of $265.31 million, a price-to-earnings ratio of 1.21 and a beta of 1.04.
Coherus Oncology (NASDAQ:CHRS – Get Free Report) last announced its quarterly earnings results on Monday, March 9th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.03). Coherus Oncology had a net margin of 398.42% and a negative return on equity of 860.29%. The business had revenue of $12.75 million for the quarter, compared to analyst estimates of $14.09 million. As a group, research analysts predict that Coherus Oncology, Inc. will post -1.05 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of CHRS. Geode Capital Management LLC lifted its position in Coherus Oncology by 0.8% during the second quarter. Geode Capital Management LLC now owns 2,676,476 shares of the biotechnology company’s stock worth $1,958,000 after acquiring an additional 20,976 shares during the last quarter. Panagora Asset Management Inc. grew its position in shares of Coherus Oncology by 17.8% in the fourth quarter. Panagora Asset Management Inc. now owns 1,620,271 shares of the biotechnology company’s stock valued at $2,301,000 after purchasing an additional 244,303 shares during the last quarter. Hudson Bay Capital Management LP increased its stake in shares of Coherus Oncology by 3.1% during the fourth quarter. Hudson Bay Capital Management LP now owns 835,000 shares of the biotechnology company’s stock worth $1,186,000 after purchasing an additional 25,000 shares during the period. UBS Group AG lifted its holdings in Coherus Oncology by 38.5% during 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 last quarter. Finally, Tejara Capital Ltd lifted its holdings in Coherus Oncology by 1.7% during 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 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.