CG Oncology, Inc. (CGON) has received a new Buy rating, initiated by JonesTrading analyst, Soumit Roy.
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Soumit Roy’s rating is based on CG Oncology’s promising developments in the treatment of Non-Muscle Invasive Bladder Cancer (NMIBC) with their oncolytic virus, cretostimogene grenadenorepvec (creto). The company is addressing a significant need for new therapies in the NMIBC space, particularly due to a shortage of the BCG vaccine, which has been the standard treatment. Experts in bladder cancer have shown enthusiasm for creto, highlighting its potential as a highly effective and safe option that could become a leading treatment for intermediate- and high-risk NMIBC patients who are unresponsive or naive to BCG.
CG Oncology is well-positioned financially to support its ongoing clinical trials, with multiple critical data readouts expected in the fourth quarter of 2025. The company’s strong cash reserves and the advanced stage of their trials suggest a lower risk profile, making it an attractive investment. Additionally, CG Oncology’s potential for acquisition, given its focused approach and the reasonable valuation, further supports the Buy rating. The projected peak revenue and the competitive landscape in intermediate-risk NMIBC also contribute to the positive outlook for CG Oncology’s stock.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $75.00 price target.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CGON in relation to earlier this year.