In a report released yesterday, Sam Slutsky from LifeSci Capital maintained a Buy rating on CG Oncology, Inc. (CGON – Research Report), with a price target of $82.00.
Sam Slutsky has given his Buy rating due to a combination of factors, primarily focusing on the competitive positioning of CG Oncology, Inc. in the non-muscle invasive bladder cancer (NMIBC) treatment landscape. The company’s targeted oncolytic virus, cretostimogene, shows promising efficacy data, particularly in comparison to JNJ’s TAR-200, with similar complete response rates at 12 and 24 months.
Slutsky highlights the potential long-term durability of cretostimogene, attributing this to its immunotherapy nature, which historically offers better durability than chemotherapy. Additionally, the data from CG Oncology’s study is impressive given the diverse patient population, including those with prior therapies, which JNJ’s study excluded. This positions cretostimogene as a potentially more versatile and effective treatment option in real-world scenarios, supporting the Buy rating.
In another report released on April 17, Morgan Stanley also reiterated a Buy rating on the stock with a $55.00 price target.