Coherus Oncology (NASDAQ:CHRS) Raised to “Strong-Buy” at Guggenheim

Coherus Oncology (NASDAQ:CHRS) was upgraded by equities research analysts at Guggenheim to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts also recently issued reports on the stock. Oppenheimer began coverage on shares of Coherus Oncology in a report on Thursday, January 22nd. They issued an “outperform” rating and a $10.00 price objective on the stock. Wall Street Zen raised shares of Coherus Oncology from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Weiss Ratings raised shares of Coherus Oncology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $8.67.

Coherus Oncology Stock Performance

Shares of CHRS stock opened at $1.95 on Monday. The company has a 50 day moving average price of $1.74 and a 200-day moving average price of $1.63. Coherus Oncology has a 52 week low of $0.71 and a 52 week high of $2.62. The firm has a market capitalization of $300.73 million, a PE ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.45, a current ratio of 1.47 and a debt-to-equity ratio of 0.61.

Coherus Oncology (NASDAQ:CHRS) last announced its quarterly earnings results on Monday, May 11th. The biotechnology company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.01). The company had revenue of $12.31 million during the quarter, compared to the consensus estimate of $14.22 million. Coherus Oncology had a negative return on equity of 860.29% and a net margin of 398.42%. As a group, equities research analysts expect that Coherus Oncology will post -0.93 earnings per share for the current year.

Hedge Funds Weigh In On Coherus Oncology

Hedge funds have recently modified their holdings of the stock. Ieq Capital LLC lifted its holdings in shares of Coherus Oncology by 24.9% in the fourth quarter. Ieq Capital LLC now owns 79,128 shares of the biotechnology company’s stock worth $112,000 after buying an additional 15,751 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Coherus Oncology in the third quarter worth $70,000. XTX Topco Ltd lifted its holdings in shares of Coherus Oncology by 65.3% in the second quarter. XTX Topco Ltd now owns 91,739 shares of the biotechnology company’s stock worth $67,000 after buying an additional 36,257 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Coherus Oncology in the second quarter worth $46,000. Finally, Corient Private Wealth LLC lifted its holdings in shares of Coherus Oncology by 20.0% in the second quarter. Corient Private Wealth LLC now owns 60,000 shares of the biotechnology company’s stock worth $44,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 72.82% of the company’s stock.

About Coherus Oncology

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.