CG Oncology (NASDAQ:CGON) Rating Increased to Strong-Buy at Roth Capital

CG Oncology (NASDAQ:CGON) was upgraded by equities researchers at Roth Capital to a “strong-buy” rating in a report released on Tuesday, Zacks.com reports.

CGON has been the topic of a number of other research reports. HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a report on Tuesday, May 28th. Bank of America began coverage on shares of CG Oncology in a research note on Friday, June 28th. They set a “buy” rating and a $65.00 price objective for the company. Roth Mkm assumed coverage on shares of CG Oncology in a research note on Tuesday. They issued a “buy” rating and a $65.00 target price on the stock. The Goldman Sachs Group upgraded shares of CG Oncology from a “neutral” rating to a “buy” rating and boosted their price target for the company from $43.00 to $50.00 in a research report on Monday, May 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $75.00 price target on shares of CG Oncology in a report on Thursday, May 2nd. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, CG Oncology has an average rating of “Buy” and a consensus target price of $64.17.

CG Oncology Price Performance

NASDAQ CGON opened at $36.79 on Tuesday. The company’s 50 day moving average is $33.58 and its 200-day moving average is $36.28. CG Oncology has a 12-month low of $25.77 and a 12-month high of $50.23.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Thursday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.14. The business had revenue of $0.11 million for the quarter. On average, equities analysts expect that CG Oncology will post -1.64 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGON. American International Group Inc. bought a new stake in CG Oncology during the first quarter worth about $13,443,000. TimesSquare Capital Management LLC bought a new stake in CG Oncology in the 1st quarter worth approximately $9,837,000. Price T Rowe Associates Inc. MD purchased a new stake in CG Oncology in the first quarter worth approximately $43,555,000. BNP Paribas Financial Markets bought a new position in shares of CG Oncology during the 1st quarter valued at $492,000. Finally, Vanguard Group Inc. bought a new position in shares of CG Oncology during the first quarter valued at about $97,678,000. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

About CG Oncology

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.