Coherus Oncology (NASDAQ:CHRS) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Coherus Oncology from “hold” to “sell.” Despite the move, MarketBeat reported a “Moderate Buy” consensus rating and an average price target of $11, based on three Buy ratings and one Sell rating.
• The company’s latest quarterly results missed expectations: EPS was a loss of $0.25 versus the expected loss of $0.22, while revenue was $14.27 million versus estimates of $15.90 million.
• Shares opened at $0.53 and were down 2.4%; the stock’s 12-month range was $0.50 to $2.62.

Coherus Oncology (NASDAQ:CHRS - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday, Wall Street Zen reports.

A number of other brokerages have also commented on CHRS. HC Wainwright began coverage on shares of Coherus Oncology in a research report on Thursday, October 29th. They set a "buy" rating on the stock. Weiss Ratings lowered Coherus Oncology from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $11.00.

Coherus Oncology Trading Down 2.4%

CHRS stock opened at $0.53 on Friday. The company has a market capitalization of $81.19 million, a PE ratio of -0.54 and a beta of 1.03. Coherus Oncology has a 12 month low of $0.50 and a 12 month high of $2.62. The firm's 50-day moving average is $1.06 and its 200 day moving average is $1.47. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.51 and a quick ratio of 1.70.

Coherus Oncology (NASDAQ:CHRS - Get Free Report) last released its quarterly earnings data on Monday, November 9th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The company had revenue of $14.27 million during the quarter, compared to analysts' expectations of $15.90 million. Coherus Oncology had a negative net margin of 253.43% and a negative return on equity of 274.46%. On average, research analysts anticipate that Coherus Oncology will post -0.83 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Spark Investment Management LLC purchased a new position in Coherus Oncology during the 2nd quarter valued at about $25,000. Cetera Investment Advisers bought a new stake in shares of Coherus Oncology in the 1st quarter valued at about $54,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Coherus Oncology in the 2nd quarter worth approximately $54,000. Dimensional Fund Advisors LP purchased a new stake in shares of Coherus Oncology in the 1st quarter worth approximately $60,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Coherus Oncology in the 2nd quarter worth approximately $131,000. 72.82% of the stock is currently owned by institutional investors.

Coherus Oncology Company Profile

Coherus Oncology, formerly Coherus BioSciences, is a biopharmaceutical company focused on developing and commercializing cancer treatments. Its portfolio includes LOQTORZI (toripalimab-tpzi), an immune checkpoint inhibitor that targets PD-1 and is approved in the United States for certain patients with nasopharyngeal cancer. The company is also advancing a pipeline of investigational immuno-oncology medicines. Coherus historically built its business around biosimilar medicines before shifting its focus to oncology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.