CG Oncology (NASDAQ:CGON) Earns Buy Rating from Analysts at Bank of America

Investment analysts at Bank of America started coverage on shares of CG Oncology (NASDAQ:CGON) in a research report issued on Friday, Marketbeat.com reports. The brokerage set a “buy” rating and a $65.00 price target on the stock. Bank of America‘s target price suggests a potential upside of 105.89% from the company’s current price.

CGON has been the subject of a number of other research reports. HC Wainwright reiterated a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Tuesday, May 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $75.00 target price on shares of CG Oncology in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group raised CG Oncology from a “neutral” rating to a “buy” rating and increased their target price for the stock from $43.00 to $50.00 in a report on Monday, May 13th. Five analysts have rated the stock with a buy rating, According to MarketBeat, CG Oncology presently has a consensus rating of “Buy” and a consensus price target of $64.00.

CG Oncology Stock Up 4.4 %

Shares of CGON stock opened at $31.57 on Friday. The stock has a 50 day moving average price of $33.50. CG Oncology has a 12 month low of $25.77 and a 12 month high of $50.23.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.01). The business had revenue of $0.53 million during the quarter. On average, equities research analysts forecast that CG Oncology will post -1.71 EPS for the current year.

Institutional Investors Weigh In On CG Oncology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Decheng Capital LLC acquired a new stake in CG Oncology during the 1st quarter valued at $239,642,000. Vanguard Group Inc. acquired a new stake in CG Oncology during the 1st quarter valued at $97,678,000. BVF Inc. IL acquired a new stake in CG Oncology during the 1st quarter valued at $82,716,000. Janus Henderson Group PLC acquired a new stake in CG Oncology during the 1st quarter valued at $66,757,000. Finally, RA Capital Management L.P. acquired a new stake in CG Oncology during the 1st quarter valued at $61,347,000. 26.56% of the stock is owned by institutional investors and hedge funds.

CG Oncology Company Profile

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.