HC Wainwright Reiterates Buy Rating for CG Oncology (NASDAQ:CGON)

by · The Markets Daily

HC Wainwright reissued their buy rating on shares of CG Oncology (NASDAQ:CGON – Free Report) in a report released on Tuesday morning,Benzinga reports. They currently have a $75.00 price objective on the stock. HC Wainwright also issued estimates for CG Oncology’s Q4 2024 earnings at ($0.36) EPS, FY2024 earnings at ($1.33) EPS, FY2025 earnings at ($1.94) EPS, FY2026 earnings at ($1.69) EPS, FY2027 earnings at ($1.18) EPS and FY2028 earnings at $0.39 EPS.

A number of other research firms have also weighed in on CGON. Bank of America reaffirmed a “buy” rating and set a $65.00 price objective on shares of CG Oncology in a research report on Tuesday, October 8th. Royal Bank of Canada assumed coverage on shares of CG Oncology in a research note on Monday, September 23rd. They issued an “outperform” rating and a $66.00 price target on the stock. UBS Group began coverage on shares of CG Oncology in a research note on Thursday, October 24th. They set a “buy” rating and a $60.00 price objective for the company. Roth Capital upgraded shares of CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Roth Mkm initiated coverage on shares of CG Oncology in a report on Tuesday, August 27th. They set a “buy” rating and a $65.00 price target on the stock. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $63.88.

View Our Latest Research Report on CGON

CG Oncology Trading Down 7.3 %

Shares of NASDAQ CGON opened at $32.90 on Tuesday. CG Oncology has a 1 year low of $25.77 and a 1 year high of $50.23. The company’s 50-day moving average is $36.70 and its 200 day moving average is $34.73.

CG Oncology (NASDAQ:CGON – Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06. The business had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.30 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. On average, research analysts anticipate that CG Oncology will post -1.45 EPS for the current fiscal year.

Insider Activity

In related news, Director Hong Fang Song sold 650,455 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $35.36, for a total value of $23,000,088.80. Following the completion of the transaction, the director now owns 586,982 shares of the company’s stock, valued at approximately $20,755,683.52. This represents a 52.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Trading of CG Oncology

Institutional investors have recently made changes to their positions in the business. American International Group Inc. purchased a new position in CG Oncology in the 1st quarter worth approximately $13,443,000. Price T Rowe Associates Inc. MD bought a new position in shares of CG Oncology during the first quarter worth $43,555,000. BNP Paribas Financial Markets purchased a new position in CG Oncology during the first quarter valued at $492,000. Deerfield Management Company L.P. Series C boosted its holdings in shares of CG Oncology by 811.9% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock valued at $13,687,000 after purchasing an additional 386,000 shares during the last quarter. Finally, Ensign Peak Advisors Inc purchased a new position in shares of CG Oncology during the second quarter valued at about $1,912,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Company Profile

(Get Free Report)

CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.

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