FY2024 EPS Estimates for CG Oncology Lifted by HC Wainwright

CG Oncology, Inc. (NASDAQ:CGON) – Research analysts at HC Wainwright raised their FY2024 earnings estimates for shares of CG Oncology in a research note issued on Wednesday, November 13th. HC Wainwright analyst A. Maldonado now forecasts that the company will post earnings per share of ($1.33) for the year, up from their prior forecast of ($1.54). HC Wainwright has a “Buy” rating and a $75.00 price target on the stock. The consensus estimate for CG Oncology’s current full-year earnings is ($1.45) per share. HC Wainwright also issued estimates for CG Oncology’s Q4 2024 earnings at ($0.36) EPS, FY2025 earnings at ($1.94) EPS, FY2026 earnings at ($1.69) EPS, FY2027 earnings at ($1.18) EPS and FY2028 earnings at $0.39 EPS.

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

Several other research analysts also recently commented on the stock. Roth Capital raised shares of CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. Bank of America restated a “buy” rating and issued a $65.00 price objective on shares of CG Oncology in a research report on Tuesday, October 8th. UBS Group assumed coverage on shares of CG Oncology in a research note on Thursday, October 24th. They set a “buy” rating and a $60.00 price objective for the company. Royal Bank of Canada initiated coverage on CG Oncology in a research note on Monday, September 23rd. They issued an “outperform” rating and a $66.00 target price on the stock. Finally, Roth Mkm initiated coverage on CG Oncology in a research report on Tuesday, August 27th. They set a “buy” rating and a $65.00 price target for the company. Eight research 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 currently has an average rating of “Buy” and a consensus target price of $63.88.

CG Oncology Trading Down 7.3 %

Shares of CGON stock opened at $32.90 on Friday. CG Oncology has a fifty-two week low of $25.77 and a fifty-two week high of $50.23. The stock has a 50 day moving average price of $36.70 and a two-hundred day moving average price of $34.69.

Institutional Trading of CG Oncology

A number of hedge funds have recently modified their holdings of the business. American International Group Inc. bought a new position in shares of CG Oncology in the 1st quarter worth about $13,443,000. Price T Rowe Associates Inc. MD bought a new position in shares of CG Oncology during the first quarter valued at approximately $43,555,000. BNP Paribas Financial Markets purchased a new position in shares of CG Oncology during the first quarter valued at approximately $492,000. Deerfield Management Company L.P. Series C boosted its position in shares of CG Oncology by 811.9% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock worth $13,687,000 after purchasing an additional 386,000 shares in the last quarter. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of CG Oncology in the 2nd quarter worth approximately $1,912,000. Institutional investors own 26.56% of the company’s stock.

Insiders Place Their Bets

In related news, Director Hong Fang Song sold 650,455 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 586,982 shares of the company’s stock, valued at $20,755,683.52. This represents a 52.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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.