Coherus Oncology (NASDAQ:CHRS) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Technical move: Coherus Oncology shares rose above their 200-day moving average (200‑day MA $1.58), trading as high as $1.65 and last at $1.64 on heavy volume, up about 7.9%.
• Mixed analyst outlook: Oppenheimer initiated coverage with an "outperform" rating and $10 price target, but the Street consensus is a "Hold" (3 Buys, 1 Hold, 1 Sell) with an average target of $5.51.
• Weak recent results: The company missed quarterly estimates (EPS -$0.34 vs. -$0.31; revenue $12.75M vs. $14.09M), has a market cap around $246M, and institutional investors own roughly 72.8% of the stock.

Coherus Oncology, Inc. (NASDAQ:CHRS - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.58 and traded as high as $1.65. Coherus Oncology shares last traded at $1.64, with a volume of 1,245,744 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Oppenheimer started coverage on Coherus Oncology in a research report on Thursday, January 22nd. They issued an "outperform" rating and a $10.00 price objective for the company. Wall Street Zen raised shares of Coherus Oncology from a "sell" rating to a "hold" rating in a research report on Saturday, March 14th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $5.51.

Coherus Oncology Stock Up 7.9%

The firm has a 50 day moving average of $1.82 and a 200-day moving average of $1.58. 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 stock has a market capitalization of $245.82 million, a P/E ratio of 1.12 and a beta of 1.05.

Coherus Oncology (NASDAQ:CHRS - Get Free Report) last announced its quarterly earnings data on Monday, March 9th. The biotechnology company reported ($0.34) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.03). The firm had revenue of $12.75 million during the quarter, compared to the consensus estimate of $14.09 million. Coherus Oncology had a negative return on equity of 860.29% and a net margin of 398.42%. On average, equities research analysts expect that Coherus Oncology, Inc. will post -1.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coherus Oncology

Hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of Coherus Oncology during the 3rd quarter valued at about $26,000. Voya Investment Management LLC acquired a new position in Coherus Oncology in the third quarter worth about $28,000. Blair William & Co. IL bought a new position in Coherus Oncology during the fourth quarter worth about $27,000. Bronte Capital Management Pty Ltd. bought a new position in Coherus Oncology during the fourth quarter worth about $27,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in Coherus Oncology during the fourth quarter valued at approximately $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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