Coherus Oncology (NASDAQ:CHRS) Stock Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Coherus Oncology passed above its 200-day moving average ($1.62), trading as high as $1.88 on Wednesday with about 1.07 million shares changing hands; the 50-day MA is $1.74 and market cap is roughly $281.8M.
• Analyst coverage is mixed: the consensus rating is "Hold" with an average price target of $5.51, though Oppenheimer has an "Outperform" rating and a $10 target; overall there are three Buys, one Hold and one Sell.
• The company recently missed quarterly estimates (EPS -$0.34 vs. -$0.31; revenue $12.75M vs. $14.09M), and institutional investors own about 72.82% of the stock.

Coherus Oncology, Inc. (NASDAQ:CHRS - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.62 and traded as high as $1.88. Coherus Oncology shares last traded at $1.88, with a volume of 1,069,147 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CHRS shares. Wall Street Zen raised Coherus Oncology from a "sell" rating to a "hold" rating in a research report on Saturday, March 14th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Coherus Oncology in a research report on Wednesday, April 8th. Finally, Oppenheimer started coverage on Coherus Oncology in a research report on Thursday, January 22nd. They set an "outperform" rating and a $10.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Coherus Oncology currently has a consensus rating of "Hold" and an average target price of $5.51.

Coherus Oncology Price Performance

The firm has a 50-day simple moving average of $1.74 and a two-hundred day simple moving average of $1.62. The company has a market capitalization of $281.79 million, a price-to-earnings ratio of 1.29 and a beta of 1.03. The company has a current ratio of 1.47, a quick ratio of 1.45 and a debt-to-equity ratio of 0.61.

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

Institutional Investors Weigh In On Coherus Oncology

Hedge funds have recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Coherus Oncology during the 3rd quarter worth about $26,000. Voya Investment Management LLC purchased a new stake in shares of Coherus Oncology during the 3rd quarter worth about $28,000. Blair William & Co. IL purchased a new stake in shares of Coherus Oncology during the 4th quarter worth about $27,000. Bronte Capital Management Pty Ltd. purchased a new stake in shares of Coherus Oncology during the 4th quarter worth about $27,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of Coherus Oncology during the 4th quarter worth about $28,000. 72.82% of the stock is owned by hedge funds and other institutional investors.

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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