Why Are Investors Spooked About These 4 Stocks Today?

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Next up on is Coherus Biosciences Inc (NASDAQ:CHRS), shares of which are off by 12% in afternoon trading. Coherus Biosciences Inc (NASDAQ:CHRS), a leading pure-play biosimilars company with several late-stage clinical products, gave a somewhat bearish update on its CHS-1701 program. CEO Denny Lanfear said in a press release that:

“The recent pharmacokinetic/pharmacodynamic (PK/PD) study is acceptable to support filing the Biologics License Application (BLA). However, given the low cost and relatively short delay involved, it is most prudent to initiate a follow-on study in healthy volunteers. We believe this will remove any residual uncertainty, reduce regulatory risk and potential for BSUFA timeline delays, and ultimately increase the likelihood of first cycle approval of CHS-1701.”

The additional study will cost around $4 million and will delay the BLA filing timing by around one calendar quarter. 17 elite funds were long Coherus on September 30, down from 19 funds three months earlier.

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Last but not least, Oxford Industries Inc (NYSE:OXM) has dipped by 8% after the company reported a third-quarter loss of $0.08 per share on revenue of $198.6 million. Although Oxford Industries Inc (NYSE:OXM) beat earnings estimates by $0.02 per share, the company missed revenue expectations by $8.75 million. Guidance was a little disappointing, with management expecting fiscal 2015 adjusted EPS to come in at $3.53-to-$3.63 on net sales of $970 million-to-$985 million. Hedge funds are optimistic about the stock however. Our data shows that 23 elite funds that we track owned Oxford Industries shares at the end of the third quarter, up by two investors from the previous filing period.

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Disclosure: None

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