FY2024 EPS Estimates for CG Oncology Lifted by HC Wainwright

CG Oncology, Inc. (NASDAQ:CGON) – Analysts at HC Wainwright increased their FY2024 EPS estimates for CG Oncology in a research note issued to investors on Wednesday, November 13th. HC Wainwright analyst A. Maldonado now expects that the company will post earnings of ($1.33) per share for the year, up from their previous forecast of ($1.54). HC Wainwright has a “Buy” rating and a $75.00 price objective 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.

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

CG Oncology Stock Performance

Shares of CG Oncology stock opened at $35.50 on Friday. CG Oncology has a 1-year low of $25.77 and a 1-year high of $50.23. The firm has a fifty day simple moving average of $36.80 and a 200-day simple moving average of $34.80.

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

Institutional Investors Weigh In On CG Oncology

Several institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in CG Oncology by 107.6% during the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock valued at $61,000 after purchasing an additional 840 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of CG Oncology during the first quarter worth approximately $102,000. California State Teachers Retirement System bought a new position in shares of CG Oncology in the first quarter valued at approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in CG Oncology during the 3rd quarter worth approximately $241,000. Finally, Profund Advisors LLC bought a new position in CG Oncology in the 2nd quarter valued at $300,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

Insider Activity at CG Oncology

In other CG Oncology 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 in the company, valued at $20,755,683.52. This represents a 52.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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.