CG Oncology (NASDAQ:CGON) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase raised its price target on CG Oncology from $65 to $91 and maintained an "overweight" rating, implying roughly a 32% upside from the prior close.
• Analyst consensus is broadly positive—11 Buys, 1 Hold and 1 Sell—giving a consensus rating of "Moderate Buy" with an average price target of $79.
• Shares traded up about 3.9% to $68.90; the company reported Q-quarter EPS of -$0.51 (beating estimates by $0.10), has a market cap of $5.82B, insiders own 7.4%, and several institutions have recently increased stakes.

CG Oncology (NASDAQ:CGON - Get Free Report) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $65.00 to $91.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 32.09% from the stock's previous close.

A number of other research analysts have also weighed in on CGON. Truist Financial lifted their price target on shares of CG Oncology from $66.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, February 10th. Royal Bank Of Canada lifted their price target on shares of CG Oncology from $61.00 to $73.00 and gave the company an "outperform" rating in a research note on Wednesday, January 21st. Wall Street Zen raised shares of CG Oncology from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $82.00 price target on shares of CG Oncology in a research note on Monday, January 12th. Finally, Morgan Stanley set a $93.00 price target on shares of CG Oncology in a research note on Friday, January 9th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $79.00.

CG Oncology Trading Up 3.9%

CGON stock traded up $2.56 during mid-day trading on Friday, hitting $68.90. 394,781 shares of the company were exchanged, compared to its average volume of 1,309,992. The firm has a fifty day simple moving average of $61.86 and a 200 day simple moving average of $50.21. CG Oncology has a twelve month low of $19.91 and a twelve month high of $71.90. The company has a market capitalization of $5.82 billion, a PE ratio of -33.45 and a beta of 0.70.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its quarterly earnings results on Friday, February 27th. The company reported ($0.51) EPS for the quarter, topping analysts' consensus estimates of ($0.61) by $0.10. The company had revenue of $2.32 million for the quarter. As a group, sell-side analysts anticipate that CG Oncology will post -1.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director James Mulay sold 1,964 shares of CG Oncology stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $63.50, for a total value of $124,714.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.40% of the company's stock.

Institutional Investors Weigh In On CG Oncology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new stake in shares of CG Oncology during the first quarter worth about $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in CG Oncology by 18.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,522 shares of the company's stock valued at $876,000 after buying an additional 5,442 shares in the last quarter. Millennium Management LLC grew its holdings in CG Oncology by 139.4% during the 1st quarter. Millennium Management LLC now owns 596,056 shares of the company's stock valued at $14,597,000 after buying an additional 347,055 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in CG Oncology by 42.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 179,363 shares of the company's stock valued at $4,393,000 after buying an additional 53,461 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in CG Oncology by 12.3% during the 2nd quarter. Legal & General Group Plc now owns 44,354 shares of the company's stock valued at $1,153,000 after buying an additional 4,847 shares in the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

About CG Oncology

CG Oncology, Inc NASDAQ: CGON is a clinical-stage biopharmaceutical company focused on the discovery and development of novel antibody-based immunotherapies for the treatment of solid tumor cancers. The company leverages a platform-driven approach to identify and optimize antibody candidates that engage key immune checkpoints and co-stimulatory pathways within the tumor microenvironment. Its pipeline encompasses multiple preclinical programs alongside early-phase clinical trials designed to assess safety, dosing and preliminary anti-tumor activity.

Headquartered in South San Francisco, California, CG Oncology conducts clinical research primarily in the United States, collaborating with leading academic medical centers and contract research organizations to advance its lead candidates.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.