CG Oncology (NASDAQ:CGON) Price Target Raised to $68.00

CG Oncology (NASDAQ:CGON - Get Free Report) had its price objective hoisted by investment analysts at Royal Bank of Canada from $66.00 to $68.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank of Canada's price target would indicate a potential upside of 146.19% from the company's previous close.

A number of other equities analysts also recently commented on the company. TD Cowen started coverage on CG Oncology in a research report on Tuesday, January 7th. They set a "buy" rating on the stock. HC Wainwright reissued a "buy" rating and issued a $75.00 price objective on shares of CG Oncology in a report on Monday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $75.00 target price on shares of CG Oncology in a research note on Monday. Scotiabank assumed coverage on shares of CG Oncology in a research note on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 price target for the company. Finally, Morgan Stanley restated an "overweight" rating and set a $55.00 price target on shares of CG Oncology in a report on Friday, March 7th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CG Oncology currently has a consensus rating of "Buy" and a consensus price target of $59.56.

CG Oncology Trading Down 1.2 %

CGON traded down $0.35 on Tuesday, hitting $27.62. 935,958 shares of the company's stock were exchanged, compared to its average volume of 774,594. CG Oncology has a fifty-two week low of $14.80 and a fifty-two week high of $46.99. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -19.61 and a beta of 1.24. The firm has a 50-day moving average price of $23.62 and a 200-day moving average price of $29.17.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.11). CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The business had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.11 million. On average, equities analysts predict that CG Oncology will post -1.31 EPS for the current year.

Institutional Investors Weigh In On CG Oncology

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in CG Oncology by 8.8% during the first quarter. Bank of New York Mellon Corp now owns 147,560 shares of the company's stock worth $3,614,000 after purchasing an additional 11,993 shares during the period. Rhumbline Advisers raised its position in CG Oncology by 8.2% in the 1st quarter. Rhumbline Advisers now owns 74,689 shares of the company's stock valued at $1,829,000 after purchasing an additional 5,673 shares in the last quarter. GAMMA Investing LLC grew its holdings in CG Oncology by 1,051.0% during the 1st quarter. GAMMA Investing LLC now owns 2,302 shares of the company's stock worth $56,000 after acquiring an additional 2,102 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of CG Oncology by 274.4% in the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company's stock valued at $54,792,000 after purchasing an additional 1,400,251 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of CG Oncology by 115.3% during the 4th quarter. California State Teachers Retirement System now owns 38,768 shares of the company's stock worth $1,112,000 after purchasing an additional 20,763 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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