TD Cowen analyst Tyler Van Buren has maintained their bullish stance on CGON stock, giving a Buy rating on October 28.
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Tyler Van Buren has given his Buy rating due to a combination of factors that highlight the potential for significant growth in CG Oncology, Inc. One of the key reasons is the recent approval of JNJ’s Inlexzo, which has set a positive precedent for the regulatory path of CG’s creto. The approval of Inlexzo, a treatment for high-risk NMIBC patients, suggests a favorable outlook for creto’s approval, especially given the FDA’s history of accepting single-arm trials in this category.
Additionally, the pricing strategy for Inlexzo has exceeded market expectations, which bodes well for the competitive pricing of creto. Van Buren has adjusted the revenue estimates for creto upwards, reflecting a higher anticipated price point and a broader market adoption. This optimistic projection is supported by the expectation that creto will capture a significant share of the market for BCG-unresponsive, high-risk NMIBC patients. These factors collectively underpin Van Buren’s confidence in the stock’s potential, justifying the Buy rating.
According to TipRanks, Van Buren is a 4-star analyst with an average return of 8.2% and a 50.52% success rate. Van Buren covers the Healthcare sector, focusing on stocks such as Soleno Therapeutics, Gilead Sciences, and IDEAYA Biosciences.
In another report released on October 28, Piper Sandler also maintained a Buy rating on the stock with a $55.00 price target.