CG Oncology (NASDAQ:CGON) Stock Price Expected to Rise, Wedbush Analyst Says

Key Points

• Wedbush raised its price target on CG Oncology from $77 to $80 and kept an outperform rating, implying about 14.9% upside from the prior close.
• Analyst sentiment is generally positive overall: 11 Buy ratings, one Hold, and one Sell, with a MarketBeat average target price of $80.45.
• CG Oncology recently reported a Q1 EPS loss of $0.71, wider than expected, but revenue of $1.08 million beat estimates; the stock was trading near its 52-week high at $69.62.

CG Oncology (NASDAQ:CGON - Get Free Report) had its price target upped by Wedbush from $77.00 to $80.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Wedbush's target price would suggest a potential upside of 14.91% from the company's previous close.

A number of other equities analysts have also commented on CGON. Wall Street Zen lowered shares of CG Oncology from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. Piper Sandler raised their price objective on shares of CG Oncology from $55.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, January 16th. The Goldman Sachs Group restated a "buy" rating and issued a $82.00 price objective on shares of CG Oncology in a research report on Monday, January 12th. JPMorgan Chase & Co. raised their price objective on shares of CG Oncology from $65.00 to $91.00 and gave the company an "overweight" rating in a research report on Friday, April 17th. Finally, Truist Financial raised their price objective on shares of CG Oncology from $66.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, February 10th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $80.45.

CG Oncology Price Performance

CGON opened at $69.62 on Monday. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of -29.88 and a beta of 0.41. The firm has a 50-day moving average price of $65.66 and a 200-day moving average price of $52.87. CG Oncology has a twelve month low of $23.32 and a twelve month high of $73.56.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its earnings results on Friday, May 8th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The firm had revenue of $1.08 million for the quarter, compared to analysts' expectations of $0.45 million. On average, sell-side analysts expect that CG Oncology will post -2.56 earnings per share for the current fiscal year.

Insider Transactions at CG Oncology

In other CG Oncology news, Director James Mulay sold 15,600 shares of CG Oncology stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $73.01, for a total transaction of $1,138,956.00. Following the completion of the sale, the director directly owned 15,600 shares in the company, valued at $1,138,956. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CG Oncology

Hedge funds have recently bought and sold shares of the stock. Candriam S.C.A. lifted its position in CG Oncology by 35.9% during the third quarter. Candriam S.C.A. now owns 1,037,892 shares of the company's stock valued at $41,806,000 after purchasing an additional 274,312 shares during the last quarter. JPMorgan Chase & Co. lifted its position in CG Oncology by 321.3% during the third quarter. JPMorgan Chase & Co. now owns 227,879 shares of the company's stock valued at $9,179,000 after purchasing an additional 173,785 shares during the last quarter. Vanguard Group Inc. lifted its position in CG Oncology by 11.4% during the third quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company's stock valued at $264,933,000 after purchasing an additional 670,770 shares during the last quarter. Mangrove Partners IM LLC lifted its position in CG Oncology by 21.0% during the third quarter. Mangrove Partners IM LLC now owns 671,692 shares of the company's stock valued at $27,056,000 after purchasing an additional 116,575 shares during the last quarter. Finally, Sivik Global Healthcare LLC bought a new stake in CG Oncology during the fourth quarter valued at approximately $1,453,000. 26.56% of the stock is currently owned by 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.

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