CG Oncology, Inc., the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Sean Laaman from Morgan Stanley maintained a Buy rating on the stock and has a $79.00 price target.
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Sean Laaman has given his Buy rating due to a combination of factors that highlight CG Oncology, Inc.’s strategic advancements and risk mitigation efforts. The initiation of the rolling BLA submission, expected to be completed by 2026, demonstrates management’s confidence in the pre-launch phase. The company is actively addressing concerns related to CMC and manufacturing, with significant progress in resolving analytical testing issues and upgrading system infrastructure to prepare for inspections.
Moreover, CG Oncology has strategically acquired a fill and finish facility to expedite processes and identified a backup facility to ensure supply continuity. Management’s focus on simplifying the administration process to a 2-step method and their efforts to include this in the potential label further contribute to the positive outlook. These strategic initiatives, along with the company’s proactive measures to mitigate risks seen in similar cases, underpin the Buy rating recommendation.
Laaman covers the Healthcare sector, focusing on stocks such as Jazz Pharmaceuticals, Neurocrine, and ACADIA Pharmaceuticals. According to TipRanks, Laaman has an average return of 9.6% and a 64.65% success rate on recommended stocks.
In another report released yesterday, JonesTrading also reiterated a Buy rating on the stock with a $75.00 price target.