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

by · The Cerbat Gem

Coherus Oncology, Inc. (NASDAQ:CHRS – Get Free Report)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.22 and traded as high as $1.40. Coherus Oncology shares last traded at $1.32, with a volume of 793,971 shares traded.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wall Street Zen raised Coherus Oncology from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Coherus Oncology in a report on Wednesday, October 8th. Finally, Maxim Group raised shares of Coherus Oncology from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research report on Thursday, September 4th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.02.

Get Our Latest Analysis on CHRS

Coherus Oncology Stock Up 0.4%

The firm has a market capitalization of $160.15 million, a price-to-earnings ratio of 1.00 and a beta of 0.95. The business has a 50 day moving average of $1.40 and a 200 day moving average of $1.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 1.23.

Coherus Oncology (NASDAQ:CHRS – Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.01. The business had revenue of $11.57 million during the quarter, compared to the consensus estimate of $13.41 million. On average, equities analysts anticipate that Coherus Oncology, Inc. will post -1.05 EPS for the current year.

Hedge Funds Weigh In On Coherus Oncology

A number of institutional investors have recently modified their holdings of CHRS. Strs Ohio acquired a new position in Coherus Oncology during the 1st quarter worth $261,000. Invesco Ltd. increased its stake in shares of Coherus Oncology by 182.7% in the 1st quarter. Invesco Ltd. now owns 186,721 shares of the biotechnology company’s stock valued at $151,000 after buying an additional 120,670 shares during the period. Panagora Asset Management Inc. bought a new stake in shares of Coherus Oncology during the second quarter worth $581,000. Deutsche Bank AG raised its position in shares of Coherus Oncology by 198.9% during the first quarter. Deutsche Bank AG now owns 117,983 shares of the biotechnology company’s stock worth $96,000 after acquiring an additional 78,508 shares during the last quarter. Finally, Ieq Capital LLC lifted its stake in shares of Coherus Oncology by 52.5% during the first quarter. Ieq Capital LLC now owns 75,020 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 25,837 shares during the period. 72.82% of the stock is owned by institutional investors.

About Coherus Oncology

(Get Free Report)

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.

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