CG Oncology (NASDAQ:CGON) Price Target Raised to $85.00

CG Oncology (NASDAQ:CGON) had its target price lifted by equities research analysts at Piper Sandler from $82.00 to $85.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 14.44% from the company’s previous close.

A number of other brokerages have also recently commented on CGON. Royal Bank Of Canada lifted their price target on CG Oncology from $79.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of CG Oncology in a report on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a research note on Friday, July 17th. JPMorgan Chase & Co. lifted their target price on CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Wolfe Research began coverage on CG Oncology in a research report on Tuesday, May 19th. They issued a “peer perform” rating on the stock. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $83.36.

CG Oncology Trading Down 0.8%

Shares of NASDAQ CGON traded down $0.57 during midday trading on Friday, reaching $74.28. The company had a trading volume of 225,275 shares, compared to its average volume of 1,158,239. The business’s 50-day simple moving average is $66.86 and its 200 day simple moving average is $63.87. The stock has a market cap of $6.55 billion, a P/E ratio of -31.81 and a beta of 0.23. CG Oncology has a 1 year low of $23.65 and a 1 year high of $77.00.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.24). The firm had revenue of $1.16 million for the quarter, compared to analysts’ expectations of $0.36 million. Analysts predict that CG Oncology will post -2.89 earnings per share for the current year.

Insiders Place Their Bets

In other CG Oncology news, Director Leonard E. Post sold 5,000 shares of CG Oncology stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at approximately $350,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brian Guan-Chyun Liu acquired 371,085 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average cost of $66.87 per share, with a total value of $24,814,453.95. Following the acquisition, the director owned 1,886,236 shares in the company, valued at approximately $126,132,601.32. This trade represents a 24.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have sold 37,129 shares of company stock valued at $2,663,817. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On CG Oncology

Several hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. acquired a new stake in CG Oncology during the fourth quarter valued at $27,000. NFSG Corp purchased a new stake in shares of CG Oncology during the 1st quarter worth about $34,000. Comerica Bank grew its position in shares of CG Oncology by 100.4% during the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after acquiring an additional 515 shares during the period. Fifth Third Bancorp acquired a new stake in shares of CG Oncology during the 1st quarter valued at about $74,000. Finally, KBC Group NV purchased a new position in shares of CG Oncology in the 1st quarter valued at about $78,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Key Stories Impacting CG Oncology

Here are the key news stories impacting CG Oncology this week:

• Positive Sentiment: Truist raised its price target to $85 from $82 and upgraded or reaffirmed a “Buy” rating, implying approximately 14% upside from the referenced share price. The target increase supports investor confidence in CG Oncology’s long-term prospects. Benzinga analyst update
• Positive Sentiment: HC Wainwright maintained its “Buy” rating and $100 price target. The firm raised its FY2030 earnings estimate to $6.88 per share from $6.77, reflecting optimism about the company’s longer-term earnings potential. HC Wainwright estimates
• Positive Sentiment: CG Oncology reported second-quarter revenue of $1.16 million, exceeding the consensus estimate of $0.36 million. Management also highlighted business and pipeline updates, which may reinforce the company’s development outlook. CG Oncology second-quarter results
• Neutral Sentiment: HC Wainwright lowered its FY2029 EPS estimate to $2.34 from $2.43, partially offsetting its higher FY2030 forecast. The firm nevertheless retained its Buy rating and $100 target. HC Wainwright revised estimates
• Negative Sentiment: Second-quarter EPS was a larger-than-expected loss of $0.90, compared with the consensus loss estimate of $0.66 and a loss of $0.54 a year earlier. The earnings miss and widening loss are the main near-term pressure on CGON. Zacks second-quarter earnings report
• Neutral Sentiment: Investors traded an unusually high volume of CGON call options, signaling increased speculative interest but not necessarily a fundamental change in the company’s outlook. CGON call options activity

CG Oncology Company Profile

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.