Coherus Oncology (NASDAQ:CHRS) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Coherus Oncology (NASDAQ:CHRS) posted its earnings results on Monday. The biotechnology company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.03), FiscalAI reports. The business had revenue of $12.75 million during the quarter, compared to the consensus estimate of $14.09 million.

Coherus Oncology Stock Up 6.0%

Shares of CHRS stock traded up $0.11 during trading hours on Monday, reaching $1.93. 2,205,039 shares of the company’s stock were exchanged, compared to its average volume of 2,549,935. Coherus Oncology has a fifty-two week low of $0.71 and a fifty-two week high of $2.62. The stock’s 50 day moving average is $1.77 and its 200-day moving average is $1.54. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42. The company has a market cap of $288.48 million, a price-to-earnings ratio of 1.45 and a beta of 1.05.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer began coverage on Coherus Oncology in a research report on Thursday, January 22nd. They issued an “outperform” rating and a $10.00 price target for the company. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.51.

Institutional Investors Weigh In On Coherus Oncology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its stake in shares of 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 worth $158,000 after acquiring an additional 196,556 shares during the period. Invesco Ltd. lifted its position in Coherus Oncology by 11.5% during the second quarter. Invesco Ltd. now owns 208,271 shares of the biotechnology company’s stock valued at $152,000 after purchasing an additional 21,550 shares during the period. Squarepoint Ops LLC purchased a new stake in Coherus Oncology in the fourth quarter valued at $132,000. Marshall Wace LLP purchased a new stake in Coherus Oncology in the fourth quarter valued at $121,000. Finally, Ieq Capital LLC grew its position in Coherus Oncology by 24.9% during the 4th quarter. Ieq Capital LLC now owns 79,128 shares of the biotechnology company’s stock worth $112,000 after purchasing an additional 15,751 shares during the period. 72.82% of the stock is currently owned by hedge funds and other institutional investors.

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.