Lifesci Capital Forecasts Stronger Earnings for CG Oncology

CG Oncology, Inc. (NASDAQ:CGON) – Equities researchers at Lifesci Capital upped their FY2024 EPS estimates for CG Oncology in a research note issued on Tuesday, November 12th. Lifesci Capital analyst S. Slutsky now forecasts that the company will earn ($1.41) per share for the year, up from their previous estimate of ($1.59). The consensus estimate for CG Oncology’s current full-year earnings is ($1.45) per share. Lifesci Capital also issued estimates for CG Oncology’s Q4 2024 earnings at ($0.47) EPS, FY2025 earnings at ($2.34) EPS and FY2026 earnings at ($1.80) EPS.

Several other research firms have also recently weighed in on CGON. UBS Group assumed coverage on shares of CG Oncology in a report on Thursday, October 24th. They set a “buy” rating and a $60.00 price objective for the company. Roth Mkm assumed coverage on CG Oncology in a report on Tuesday, August 27th. They set a “buy” rating and a $65.00 price target on the stock. Roth Capital raised CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th. Royal Bank of Canada assumed coverage on CG Oncology in a research report on Monday, September 23rd. They set an “outperform” rating and a $66.00 price objective for the company. Finally, Bank of America reissued a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a research report on Tuesday, October 8th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $63.88.

CG Oncology Price Performance

Shares of NASDAQ:CGON opened at $32.90 on Friday. The business has a 50-day simple moving average of $36.70 and a two-hundred day simple moving average of $34.73. CG Oncology has a fifty-two week low of $25.77 and a fifty-two week high of $50.23.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06. The business had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.30 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%.

Institutional Investors Weigh In On CG Oncology

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new stake in CG Oncology during the 1st quarter valued at $492,000. Vanguard Group Inc. purchased a new stake in shares of CG Oncology in the first quarter valued at $97,678,000. Ameritas Investment Partners Inc. bought a new stake in shares of CG Oncology in the 1st quarter worth about $102,000. American International Group Inc. purchased a new position in shares of CG Oncology during the 1st quarter worth about $13,443,000. Finally, Decheng Capital LLC purchased a new position in shares of CG Oncology during the first quarter valued at approximately $239,642,000. 26.56% of the stock is owned by institutional investors.

Insider Activity at CG Oncology

In related news, Director Hong Fang Song sold 650,455 shares of CG Oncology stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $35.36, for a total value of $23,000,088.80. Following the completion of the transaction, the director now owns 586,982 shares in the company, valued at approximately $20,755,683.52. This trade represents a 52.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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.