Coherus Oncology (NASDAQ:CHRS) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Coherus Oncology, Inc. (NASDAQ:CHRS) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.60 and traded as high as $1.79. Coherus Oncology shares last traded at $1.74, with a volume of 793,783 shares.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of Coherus Oncology from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Oppenheimer assumed coverage on shares of Coherus Oncology in a research note on Thursday, January 22nd. They issued an “outperform” rating and a $10.00 target price for the company. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.51.

Coherus Oncology Stock Up 3.0%

The stock has a market capitalization of $260.81 million, a P/E ratio of 1.19 and a beta of 1.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.47 and a quick ratio of 1.45. The stock has a fifty day moving average price of $1.83 and a 200 day moving average price of $1.60.

Coherus Oncology (NASDAQ:CHRS) last released its quarterly earnings data on Monday, March 9th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.03). The company had revenue of $12.75 million for the quarter, compared to the consensus estimate of $14.09 million. Coherus Oncology had a net margin of 398.42% and a negative return on equity of 860.29%. On average, research analysts forecast that Coherus Oncology, Inc. will post -1.05 earnings per share for the current year.

Institutional Investors Weigh In On Coherus Oncology

Several hedge funds and other institutional investors have recently modified their holdings of CHRS. Panagora Asset Management Inc. bought a new stake in shares of Coherus Oncology during the 2nd quarter valued at about $581,000. Millennium Management LLC bought a new position in shares of Coherus Oncology in the fourth quarter worth approximately $938,000. UBS Group AG increased its position 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 purchasing an additional 221,410 shares during the last quarter. Acadian Asset Management LLC raised its stake in Coherus Oncology by 52,980.1% in the first quarter. Acadian Asset Management LLC now owns 196,927 shares of the biotechnology company’s stock valued at $158,000 after purchasing an additional 196,556 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in Coherus Oncology by 72.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 441,000 shares of the biotechnology company’s stock valued at $626,000 after purchasing an additional 186,000 shares in the last quarter. 72.82% of the stock is currently 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.