Coherus Oncology (NASDAQ:CHRS) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Coherus Oncology, Inc. (NASDAQ:CHRS) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.62 and traded as high as $1.7350. Coherus Oncology shares last traded at $1.66, with a volume of 1,191,567 shares.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wall Street Zen raised Coherus Oncology from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Guggenheim assumed coverage on Coherus Oncology in a report on Monday, May 11th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Weiss Ratings raised 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 issued a Hold rating to the company. Based on data from MarketBeat, Coherus Oncology currently has a consensus rating of “Moderate Buy” and an average target price of $8.67.

Coherus Oncology Price Performance

The business has a fifty day moving average of $1.71 and a 200-day moving average of $1.62. The firm has a market cap of $256.06 million, a PE ratio of 0.99 and a beta of 1.01. The company has a current ratio of 1.56, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47.

Coherus Oncology (NASDAQ:CHRS) last released its quarterly earnings results on Monday, May 11th. The biotechnology company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.01. Coherus Oncology had a negative return on equity of 198.90% and a net margin of 397.30%.The firm had revenue of $12.31 million for the quarter, compared to analysts’ expectations of $14.22 million. As a group, research analysts predict that Coherus Oncology, Inc. will post -0.93 earnings per share for the current year.

Institutional Trading of Coherus Oncology

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP purchased a new stake in shares of Coherus Oncology in the 3rd quarter valued at about $26,000. Blair William & Co. IL purchased a new stake in shares of Coherus Oncology in the 4th quarter valued at about $27,000. Bronte Capital Management Pty Ltd. purchased a new stake in shares of Coherus Oncology in the 4th quarter valued at about $27,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Coherus Oncology in the 4th quarter valued at about $28,000. Finally, Kestra Private Wealth Services LLC purchased a new stake in shares of Coherus Oncology in the 4th quarter valued at about $28,000. 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.