Cantor Fitzgerald Reiterates Overweight Rating for CG Oncology (NASDAQ:CGON)

Key Points

• Cantor Fitzgerald has reaffirmed its **"overweight" rating** on CG Oncology (NASDAQ:CGON) with a price target of **$75.00**, suggesting a potential upside of **128.61%** from the last closing price.
• Multiple research firms have issued opinions on CG Oncology, noting a range of price targets, with an **average price target of $54.30** and a consensus rating of **"Moderate Buy."**
• CG Oncology's most recent quarterly earnings reported a loss of **($0.54) per share**, falling short of analysts' expectations by **$0.05**, indicating ongoing financial challenges for the company.

CG Oncology (NASDAQ:CGON - Get Free Report)'s stock had its "overweight" rating reaffirmed by equities research analysts at Cantor Fitzgerald in a note issued to investors on Monday,Benzinga reports. They currently have a $75.00 price objective on the stock. Cantor Fitzgerald's target price would indicate a potential upside of 128.61% from the company's previous close.

A number of other equities research analysts have also weighed in on CGON. Royal Bank Of Canada reduced their price objective on CG Oncology from $68.00 to $53.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. Morgan Stanley boosted their price objective on CG Oncology from $52.00 to $56.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. The Goldman Sachs Group upgraded CG Oncology to a "strong-buy" rating and set a $40.00 price objective on the stock in a research report on Thursday, July 10th. HC Wainwright restated a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a research report on Friday. Finally, Piper Sandler initiated coverage on CG Oncology in a research report on Monday, August 18th. They set an "overweight" rating and a $55.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $54.30.

CG Oncology Trading Down 0.8%

NASDAQ:CGON opened at $32.81 on Monday. The stock has a market cap of $2.50 billion, a P/E ratio of -18.54 and a beta of 0.87. The stock has a 50 day simple moving average of $26.51 and a 200 day simple moving average of $25.29. CG Oncology has a 1-year low of $14.80 and a 1-year high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.05). CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 19.37%. As a group, sell-side analysts forecast that CG Oncology will post -1.31 EPS for the current year.

Insider Activity at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 2,000 shares of the stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $28.00, for a total transaction of $56,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hong Fang Song sold 100,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $27.80, for a total value of $2,780,000.00. Following the sale, the director owned 2,903,931 shares in the company, valued at approximately $80,729,281.80. This represents a 3.33% decrease in their position. The disclosure for this sale can be found here.

Institutional Investors Weigh In On CG Oncology

Large investors have recently added to or reduced their stakes in the company. Northern Trust Corp grew its stake in shares of CG Oncology by 13.7% during the fourth quarter. Northern Trust Corp now owns 433,860 shares of the company's stock valued at $12,443,000 after buying an additional 52,419 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of CG Oncology by 70.2% during the fourth quarter. Ameriprise Financial Inc. now owns 21,946 shares of the company's stock valued at $629,000 after buying an additional 9,051 shares during the last quarter. Bank of America Corp DE grew its stake in shares of CG Oncology by 22.6% during the fourth quarter. Bank of America Corp DE now owns 209,518 shares of the company's stock valued at $6,009,000 after buying an additional 38,626 shares during the last quarter. Deutsche Bank AG grew its stake in shares of CG Oncology by 53.5% during the fourth quarter. Deutsche Bank AG now owns 38,978 shares of the company's stock valued at $1,118,000 after buying an additional 13,589 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of CG Oncology by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,080 shares of the company's stock valued at $862,000 after buying an additional 1,026 shares during the last quarter. Hedge funds and other institutional investors own 26.56% of the company's stock.

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.

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