Coherus Oncology (NASDAQ:CHRS) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Coherus Oncology's stock recently crossed above its 200-day moving average (200-day = $1.63), trading as high as $1.81 and last at $1.76 on volume of about 1.38 million shares, a bullish technical signal.
• Analyst sentiment is mixed but leans positive: three Buys and one Sell produce a consensus Moderate Buy rating with a $7 average price target, and Oppenheimer initiated coverage with an $10 "Outperform" call.
• Underlying fundamentals remain weak—Coherus missed the quarter (EPS -$0.34 vs. -$0.31 est.; revenue $12.75M vs. $14.09M), faces a -0.93 EPS forecast for the year, yet institutional investors hold roughly 72.8% of the shares.

Coherus Oncology, Inc. (NASDAQ:CHRS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.63 and traded as high as $1.81. Coherus Oncology shares last traded at $1.76, with a volume of 1,379,128 shares traded.

Analyst Ratings Changes

Several research firms have commented on CHRS. Wall Street Zen upgraded Coherus Oncology from a "sell" rating to a "hold" rating in a research note on Saturday, March 14th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Coherus Oncology in a report on Wednesday, April 8th. Finally, Oppenheimer initiated coverage on shares of Coherus Oncology in a research report on Thursday, January 22nd. They issued an "outperform" rating and a $10.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $7.00.

Coherus Oncology Trading Down 2.2%

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.47 and a quick ratio of 1.45. The business has a 50-day simple moving average of $1.71 and a two-hundred day simple moving average of $1.63. The stock has a market cap of $271.43 million, a price-to-earnings ratio of 1.21 and a beta of 1.03.

Coherus Oncology (NASDAQ:CHRS - Get Free Report) last released its quarterly earnings data on Monday, March 9th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.03). Coherus Oncology had a net margin of 398.42% and a negative return on equity of 860.29%. The business had revenue of $12.75 million during the quarter, compared to analyst estimates of $14.09 million. Equities analysts forecast that Coherus Oncology, Inc. will post -0.93 EPS for the current fiscal year.

Institutional Trading of Coherus Oncology

A number of hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new stake in Coherus Oncology during the third quarter worth approximately $26,000. Voya Investment Management LLC bought a new stake in Coherus Oncology in the 3rd quarter valued at $28,000. Blair William & Co. IL acquired a new position in Coherus Oncology in the 4th quarter valued at $27,000. Bronte Capital Management Pty Ltd. bought a new position in Coherus Oncology during the 4th quarter worth $27,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in Coherus Oncology during the 4th quarter worth $28,000. Institutional investors and hedge funds own 72.82% of the company's stock.

Coherus Oncology Company Profile

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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