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

Coherus Oncology, Inc. (NASDAQ:CHRS) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.67 and traded as high as $1.71. Coherus Oncology shares last traded at $1.67, with a volume of 1,525,559 shares traded.

Analyst Upgrades and Downgrades

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

Coherus Oncology Price Performance

The stock has a market capitalization of $251.43 million, a PE ratio of 0.98 and a beta of 0.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.56 and a quick ratio of 1.52. The firm’s 50 day simple moving average is $1.56 and its 200 day simple moving average is $1.67.

Coherus Oncology (NASDAQ:CHRS) last announced its quarterly earnings data on Monday, May 11th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. The company had revenue of $12.31 million during 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%. As a group, equities analysts forecast that Coherus Oncology, Inc. will post -0.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Focus Partners Wealth bought a new position in Coherus Oncology during the 3rd quarter worth approximately $70,000. Two Sigma Investments LP purchased a new stake in shares of Coherus Oncology during the third quarter valued at approximately $59,000. BNP Paribas Financial Markets grew its holdings in shares of Coherus Oncology by 108.2% in the third quarter. BNP Paribas Financial Markets now owns 26,620 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 13,832 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Coherus Oncology by 190.2% in the first quarter. Bank of America Corp DE now owns 324,133 shares of the biotechnology company’s stock worth $548,000 after buying an additional 212,430 shares during the period. Finally, Cetera Investment Advisers purchased a new position in shares of Coherus Oncology in the first quarter worth $54,000. Hedge funds and other institutional investors own 72.82% of the company’s stock.

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.