Coherus Oncology (NASDAQ:CHRS) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Coherus Oncology, Inc. (NASDAQ:CHRS) shares passed 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 changing hands.

Wall Street Analyst Weigh In

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

Coherus Oncology Trading Up 7.1%

The company has a market cap of $257.60 million, a price-to-earnings ratio of 1.00 and a beta of 0.97. The business has a fifty day simple moving average of $1.56 and a 200 day simple moving average of $1.67. The company has a quick ratio of 1.52, a current ratio of 1.56 and a debt-to-equity ratio of 0.47.

Coherus Oncology (NASDAQ:CHRS) last announced its quarterly earnings data on Monday, May 11th. The biotechnology company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.01. The firm 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%. On average, equities analysts anticipate that Coherus Oncology, Inc. will post -0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Coherus Oncology

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new stake in Coherus Oncology in the third quarter valued at $26,000. Bronte Capital Management Pty Ltd. acquired a new position in shares of Coherus Oncology during the 4th quarter worth $27,000. Blair William & Co. IL acquired a new position in shares of Coherus Oncology during the 4th quarter worth $27,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Coherus Oncology in the 4th quarter worth about $28,000. Finally, Kestra Private Wealth Services LLC purchased a new stake in shares of Coherus Oncology in the 4th quarter worth about $28,000. 72.82% of the stock is owned by institutional investors and hedge funds.

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.