Coherus Oncology (NASDAQ:CHRS) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Coherus Oncology, Inc. (NASDAQ:CHRS) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.30 and traded as high as $1.67. Coherus Oncology shares last traded at $1.60, with a volume of 985,010 shares.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CHRS. Weiss Ratings restated a “sell (d)” rating on shares of Coherus Oncology in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Coherus Oncology from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Coherus Oncology presently has a consensus rating of “Hold” and a consensus target price of $4.02.

Coherus Oncology Stock Down 3.6%

The firm’s 50 day moving average is $1.35 and its 200-day moving average is $1.31. The firm has a market cap of $193.39 million, a PE ratio of 1.20 and a beta of 0.96. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.42.

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

Institutional Trading of Coherus Oncology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of Coherus Oncology during the 3rd quarter worth about $26,000. Voya Investment Management LLC purchased a new position in Coherus Oncology during the third quarter worth approximately $28,000. International Assets Investment Management LLC acquired a new stake in shares of Coherus Oncology during the 2nd quarter worth $33,000. Corient Private Wealth LLC increased its holdings in shares of Coherus Oncology by 20.0% during the 2nd quarter. Corient Private Wealth LLC now owns 60,000 shares of the biotechnology company’s stock worth $44,000 after buying an additional 10,000 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Coherus Oncology by 108.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,620 shares of the biotechnology company’s stock worth $44,000 after buying an additional 13,832 shares during the period. Hedge funds and other institutional investors own 72.82% of the company’s stock.

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.