CG Oncology, Inc. (NASDAQ:CGON) Receives $63.88 Consensus Target Price from Brokerages

Shares of CG Oncology, Inc. (NASDAQ:CGON) have received a consensus rating of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $63.88.

Several research firms have commented on CGON. Bank of America reaffirmed a “buy” rating and set a $65.00 price objective on shares of CG Oncology in a research note on Tuesday, October 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price target on shares of CG Oncology in a report on Friday. UBS Group assumed coverage on shares of CG Oncology in a research note on Thursday, October 24th. They issued a “buy” rating and a $60.00 price objective for the company. Roth Mkm initiated coverage on CG Oncology in a research note on Tuesday, August 27th. They set a “buy” rating and a $65.00 target price on the stock. Finally, Roth Capital upgraded CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th.

Insiders Place Their Bets

In related news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $34.54, for a total transaction of $34,540.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Trading of CG Oncology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank grew its position in shares of CG Oncology by 107.6% in the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock worth $61,000 after buying an additional 840 shares during the last quarter. California State Teachers Retirement System purchased a new position in CG Oncology in the first quarter worth $103,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of CG Oncology during the third quarter worth $241,000. Profund Advisors LLC acquired a new stake in shares of CG Oncology in the 2nd quarter worth $300,000. Finally, HighVista Strategies LLC purchased a new position in CG Oncology during the 3rd quarter worth $594,000. Institutional investors own 26.56% of the company’s stock.

CG Oncology Stock Performance

Shares of NASDAQ CGON opened at $33.23 on Thursday. CG Oncology has a 12-month low of $25.77 and a 12-month high of $50.23. The firm’s 50-day moving average price is $35.69 and its 200-day moving average price is $34.97.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. The business had revenue of $0.04 million for 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%. Analysts anticipate that CG Oncology will post -1.31 earnings per share for the current fiscal year.

About CG Oncology

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.