Bank of America Securities analyst Alec Stranahan maintained a Buy rating on CG Oncology, Inc. on September 5 and set a price target of $62.00.
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Alec Stranahan has given his Buy rating due to a combination of factors related to CG Oncology, Inc.’s promising data on their treatment, creto, for high-risk BCG-unresponsive non-muscle invasive bladder cancer (NMIBC). The recent data shows an impressive 24-month complete response (CR) rate of 41.8%, an improvement from previous results, positioning creto as a strong contender in the market alongside JNJ’s TAR-200.
The durability of creto’s response, particularly over a two-year period, is a significant metric for its potential uptake, which is further supported by key opinion leader (KOL) insights. Additionally, creto demonstrates advantages in safety with a lower rate of severe treatment-related adverse events compared to TAR-200. While TAR-200 may have an edge in ease of administration, the familiarity of creto’s procedure to healthcare providers and the potential to outsource its administration to infusion centers mitigate concerns about its handling requirements.
According to TipRanks, Stranahan is an analyst with an average return of -8.8% and a 45.75% success rate. Stranahan covers the Healthcare sector, focusing on stocks such as Janux Therapeutics Inc, Agios Pharma, and Novavax.
In another report released today, LifeSci Capital also maintained a Buy rating on the stock with a $82.00 price target.