Coherus Oncology (NASDAQ:CHRS) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Coherus Oncology (NASDAQ:CHRS) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.01, FiscalAI reports. The business had revenue of $11.57 million during the quarter, compared to the consensus estimate of $13.41 million.

Coherus Oncology Stock Performance

Shares of NASDAQ CHRS traded down $0.15 during trading hours on Friday, reaching $1.34. The stock had a trading volume of 2,920,956 shares, compared to its average volume of 1,037,423. Coherus Oncology has a twelve month low of $0.70 and a twelve month high of $2.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.44 and a quick ratio of 1.43. The business’s fifty day moving average is $1.55 and its two-hundred day moving average is $1.13. The company has a market cap of $155.75 million, a price-to-earnings ratio of 1.01 and a beta of 0.96.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Maxim Group raised Coherus Oncology from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Thursday, September 4th. Weiss Ratings restated a “sell (d)” rating on shares of Coherus Oncology in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.51.

Hedge Funds Weigh In On Coherus Oncology

A number of hedge funds and other institutional investors have recently made changes to their positions in CHRS. Geode Capital Management LLC increased its stake in shares of Coherus Oncology by 0.8% in the second quarter. Geode Capital Management LLC now owns 2,676,476 shares of the biotechnology company’s stock valued at $1,958,000 after buying an additional 20,976 shares in the last quarter. Invesco Ltd. grew its holdings in Coherus Oncology by 11.5% during the 2nd quarter. Invesco Ltd. now owns 208,271 shares of the biotechnology company’s stock worth $152,000 after acquiring an additional 21,550 shares during the last quarter. Acadian Asset Management LLC increased its position in Coherus Oncology by 52,980.1% in the 1st quarter. Acadian Asset Management LLC now owns 196,927 shares of the biotechnology company’s stock valued at $158,000 after acquiring an additional 196,556 shares in the last quarter. XTX Topco Ltd raised its stake 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 acquiring an additional 36,257 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Coherus Oncology during the second quarter worth approximately $46,000. 72.82% of the stock is owned by institutional investors.

Coherus Oncology Company Profile

Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the research, development, and commercialization of cancer treatments primarily in the United States. The company develops UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony stimulating factor; LOQTORZI, a novel PD-1 inhibitor; and Casdozokitug, an investigational recombinant human immunoglobulin isotype G1 (IgG1) monoclonal antibody targeting interleukin 27.