CG Oncology (NASDAQ:CGON) Given Buy Rating at HC Wainwright

CG Oncology (NASDAQ:CGON)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $75.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 123.48% from the company’s previous close.

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

CG Oncology Stock Performance

NASDAQ CGON opened at $33.56 on Friday. CG Oncology has a 52 week low of $25.77 and a 52 week high of $50.23. The stock’s 50 day moving average price is $35.84 and its two-hundred day moving average price is $34.84.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.06. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The firm had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.30 million. Analysts anticipate that CG Oncology will post -1.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CGON. Ally Bridge Group NY LLC lifted its position in CG Oncology by 50.5% during the third quarter. Ally Bridge Group NY LLC now owns 263,266 shares of the company’s stock worth $9,933,000 after acquiring an additional 88,390 shares during the last quarter. Deerfield Management Company L.P. Series C increased its stake in shares of CG Oncology by 811.9% during the second quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock worth $13,687,000 after purchasing an additional 386,000 shares during the period. Ensign Peak Advisors Inc bought a new position in shares of CG Oncology during the second quarter worth approximately $1,912,000. SG Americas Securities LLC bought a new stake in CG Oncology in the 3rd quarter valued at $664,000. Finally, Bank of New York Mellon Corp boosted its stake in CG Oncology by 38.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 89,344 shares of the company’s stock valued at $2,821,000 after purchasing an additional 24,801 shares during the period. Institutional investors and hedge funds own 26.56% of the company’s stock.

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.