Analyst Sam Slutsky from LifeSci Capital maintained a Buy rating on CG Oncology, Inc. (CGON – Research Report) and decreased the price target to $82.00 from $83.00.
Sam Slutsky’s rating is based on the promising clinical data and financial stability of CG Oncology, Inc. The company recently reported a strong cash position, ending FY 2024 with $742.0 million in cash and marketable securities, which provides a solid financial foundation for future operations and development. Additionally, the topline data from the BOND-003 trial of their lead asset, cretostimogene, in high-risk BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) showed a complete response rate of 76%, with no significant treatment-related adverse events reported.
Furthermore, the comparison of cretostimogene to JNJ’s TAR-200 highlights its competitive edge, particularly in terms of safety and response durability. While TAR-200 has a slightly higher complete response rate, it also has a higher incidence of Grade 3 adverse events and treatment discontinuations. The rapid resolution of adverse events with cretostimogene, compared to TAR-200, adds to its appeal. These factors combined suggest a favorable outlook for CG Oncology’s product in the market, supporting the Buy rating.
Slutsky covers the Healthcare sector, focusing on stocks such as Immunovant, Astria Therapeutics, and Abivax SA Sponsored ADR. According to TipRanks, Slutsky has an average return of -7.7% and a 29.79% success rate on recommended stocks.
In another report released on March 25, H.C. Wainwright also reiterated a Buy rating on the stock with a $75.00 price target.