Coherus Oncology (NASDAQ:CHRS) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Coherus Oncology, Inc. (NASDAQ:CHRS)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Coherus Oncology in a research report on Wednesday, October 8th. Oppenheimer assumed coverage on Coherus Oncology in a research note on Thursday, January 22nd. They set an “outperform” rating and a $10.00 target price on the stock. Finally, Wall Street Zen upgraded Coherus Oncology from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.51.

Coherus Oncology Price Performance

The firm has a market cap of $261.08 million, a PE ratio of 1.62 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 1.23. The firm has a 50-day simple moving average of $1.51 and a 200 day simple moving average of $1.38.

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

Institutional Trading of Coherus Oncology

A number of hedge funds have recently made changes to their positions in CHRS. Geode Capital Management LLC increased its position in Coherus Oncology by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,676,476 shares of the biotechnology company’s stock valued at $1,958,000 after buying an additional 20,976 shares in the last quarter. UBS Group AG grew its stake in shares of Coherus Oncology by 38.5% in the third quarter. UBS Group AG now owns 795,941 shares of the biotechnology company’s stock worth $1,305,000 after acquiring an additional 221,410 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of Coherus Oncology in the second quarter worth $581,000. Tejara Capital Ltd increased its holdings in shares of Coherus Oncology by 1.7% during the second quarter. Tejara Capital Ltd now owns 698,770 shares of the biotechnology company’s stock valued at $511,000 after acquiring an additional 11,552 shares in the last quarter. Finally, Jefferies Financial Group Inc. raised 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 during the last quarter. 72.82% of the stock is owned by 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.