Alec Stranahan, an analyst from Bank of America Securities, maintained the Buy rating on CG Oncology, Inc.. The associated price target remains the same with $60.00.
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Alec Stranahan has given his Buy rating due to a combination of factors that highlight CG Oncology, Inc.’s promising prospects. The company’s drug, cretostimogene (creto), has shown significant potential in treating high-risk non-muscle invasive bladder cancer (NMIBC). Recent data presented at the Society of Urologic Oncology (SUO) meeting demonstrated that creto’s performance in both BCG-naïve and BCG-unresponsive settings is comparable to existing treatments, with an optimized administration process that may enhance its adoption.
Moreover, the data from the BOND-003 cohort indicates that creto’s efficacy in the papillary setting is on par with Inlexzo, a leading competitor. This positions creto as a strong contender in the NMIBC market. The company’s strategic plans, including potential approval in the BCG-unresponsive setting by 2026 and ongoing trials in other NMIBC populations, further support the Buy rating. These developments, coupled with a favorable safety profile and the potential to address the ongoing BCG shortage, underscore the positive outlook for CG Oncology’s stock.
In another report released on December 5, LifeSci Capital also maintained a Buy rating on the stock with a $90.00 price target.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CGON in relation to earlier this year.