CG Oncology (NASDAQ:CGON) Earns Buy Rating from Analysts at Bank of America

Research analysts at Bank of America assumed coverage on shares of CG Oncology (NASDAQ:CGON) in a report released on Friday, Briefing.com reports. The firm set a “buy” rating and a $65.00 price target on the stock. Bank of America‘s price target points to a potential upside of 114.88% from the company’s current price.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group upgraded shares of CG Oncology from a “neutral” rating to a “buy” rating and boosted their target price for the company from $43.00 to $50.00 in a report on Monday, May 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $75.00 price target on shares of CG Oncology in a research note on Thursday, May 2nd. Finally, HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research note on Tuesday, May 28th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $64.00.

CG Oncology Trading Down 0.9 %

NASDAQ:CGON opened at $30.25 on Friday. The stock has a 50-day simple moving average of $33.57. CG Oncology has a twelve month low of $25.77 and a twelve month high of $50.23.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.01). The firm had revenue of $0.53 million for the quarter. On average, research analysts anticipate that CG Oncology will post -1.71 earnings per share for the current year.

Hedge Funds Weigh In On CG Oncology

Several large investors have recently made changes to their positions in CGON. Ameritas Investment Partners Inc. acquired a new position in shares of CG Oncology in the 1st quarter worth approximately $102,000. California State Teachers Retirement System acquired a new position in shares of CG Oncology in the 1st quarter worth approximately $103,000. BNP Paribas Financial Markets acquired a new position in shares of CG Oncology in the 1st quarter worth approximately $492,000. Capstone Investment Advisors LLC acquired a new position in shares of CG Oncology in the 1st quarter worth approximately $806,000. Finally, Blackstone Inc. acquired a new position in shares of CG Oncology in the 1st quarter worth approximately $1,098,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.

CG Oncology Company Profile

CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.