Analyst Alec Stranahan of Bank of America Securities maintained a Buy rating on CG Oncology, Inc. (CGON – Research Report), with a price target of $63.00.
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Alec Stranahan has given his Buy rating due to a combination of factors that highlight the potential of CG Oncology, Inc.’s cretostimogene (creto) in addressing current gaps in bladder cancer treatment. The ongoing shortage of BCG, a standard treatment for bladder cancer, has created a significant opportunity for creto, especially if it proves effective in BCG-naïve patients as anticipated in the upcoming CORE-008 study. The potential for label expansion following recent data updates further supports the positive outlook for creto, which could significantly increase the number of treatable patients.
Additionally, the safety profile of creto is a notable advantage, with a 0% Grade ≥3 TRAE rate and rapid resolution time, which contrasts favorably with other treatments like TAR-200. The expert insights from Dr. Theodore Cisu emphasize the importance of non-inferiority to BCG in the BCG-naïve setting, suggesting that achieving comparable efficacy and safety could attract significant attention from the medical community. With these factors in mind, Stranahan maintains a Buy rating with a price objective of $63, reflecting confidence in CG Oncology’s strategic positioning and future growth potential.
According to TipRanks, Stranahan is an analyst with an average return of -14.3% and a 32.97% success rate. Stranahan covers the Healthcare sector, focusing on stocks such as Novavax, Candel Therapeutics, and TG Therapeutics.
In another report released today, RBC Capital also reiterated a Buy rating on the stock with a $68.00 price target.