Coherus Oncology (NASDAQ:CHRS) Raised to “Strong-Buy” at Guggenheim

Coherus Oncology (NASDAQ:CHRS) was upgraded by analysts at Guggenheim to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Oppenheimer began coverage on shares of Coherus Oncology in a report on Thursday, January 22nd. They issued an “outperform” rating and a $10.00 price target on the stock. Weiss Ratings raised shares of Coherus Oncology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen raised shares of Coherus Oncology from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Coherus Oncology currently has a consensus rating of “Buy” and an average target price of $8.67.

Coherus Oncology Price Performance

Coherus Oncology stock opened at $1.95 on Monday. The company has a market cap of $300.73 million, a price-to-earnings ratio of 1.34 and a beta of 1.01. The firm’s fifty day moving average is $1.74 and its 200 day moving average is $1.63. The company has a quick ratio of 1.45, a current ratio of 1.47 and a debt-to-equity ratio of 0.61. Coherus Oncology has a 52-week low of $0.71 and a 52-week high of $2.62.

Coherus Oncology (NASDAQ:CHRS) last posted its quarterly earnings data on Monday, May 11th. The biotechnology company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.01). The firm had revenue of $12.31 million for the quarter, compared to the consensus estimate of $14.22 million. Coherus Oncology had a net margin of 398.42% and a negative return on equity of 860.29%. Sell-side analysts forecast that Coherus Oncology will post -0.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Coherus Oncology by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,676,476 shares of the biotechnology company’s stock worth $1,958,000 after purchasing an additional 20,976 shares during the period. Panagora Asset Management Inc. grew its position in Coherus Oncology by 17.8% in the 4th quarter. Panagora Asset Management Inc. now owns 1,620,271 shares of the biotechnology company’s stock valued at $2,301,000 after buying an additional 244,303 shares during the last quarter. Hudson Bay Capital Management LP grew its position in Coherus Oncology by 3.1% in the 4th quarter. Hudson Bay Capital Management LP now owns 835,000 shares of the biotechnology company’s stock valued at $1,186,000 after buying an additional 25,000 shares during the last quarter. UBS Group AG grew its position in Coherus Oncology by 38.5% in the 3rd quarter. UBS Group AG now owns 795,941 shares of the biotechnology company’s stock valued at $1,305,000 after buying an additional 221,410 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in Coherus Oncology in the 4th quarter valued at $938,000. Institutional investors and hedge funds 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.