CG Oncology FY2024 EPS Estimate Boosted by Lifesci Capital

CG Oncology, Inc. (NASDAQ:CGON) – Analysts at Lifesci Capital boosted their FY2024 earnings estimates for shares of CG Oncology in a research report issued on Tuesday, November 12th. Lifesci Capital analyst S. Slutsky now anticipates that the company will post earnings per share of ($1.41) for the year, up from their prior estimate of ($1.59). The consensus estimate for CG Oncology’s current full-year earnings is ($1.45) per share. Lifesci Capital also issued estimates for CG Oncology’s Q4 2024 earnings at ($0.47) EPS, FY2025 earnings at ($2.34) EPS and FY2026 earnings at ($1.80) EPS.

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

Other equities analysts also recently issued research reports about the company. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. Roth Mkm began coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research note on Tuesday. Royal Bank of Canada assumed coverage on CG Oncology in a report on Monday, September 23rd. They set an “outperform” rating and a $66.00 target price on the stock. Finally, UBS Group started coverage on CG Oncology in a research report on Thursday, October 24th. They set a “buy” rating and a $60.00 price objective on the stock. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CG Oncology presently has an average rating of “Buy” and an average target price of $63.88.

CG Oncology Trading Up 1.0 %

CGON stock opened at $35.50 on Friday. The business’s 50-day moving average is $36.80 and its 200 day moving average is $34.80. CG Oncology has a 12-month low of $25.77 and a 12-month high of $50.23.

Insider Activity

In related news, Director Hong Fang Song sold 650,455 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were 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 approximately $20,755,683.52. The trade was a 52.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On CG Oncology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Amalgamated Bank raised its position in CG Oncology by 107.6% in the third 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 period. Ameritas Investment Partners Inc. purchased a new stake in shares of CG Oncology in the 1st quarter valued at $102,000. California State Teachers Retirement System acquired a new position in CG Oncology during the 1st quarter worth about $103,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in CG Oncology during the 3rd quarter valued at about $241,000. Finally, Profund Advisors LLC acquired a new position in CG Oncology in the 2nd quarter valued at about $300,000. 26.56% of the stock is owned by hedge funds and other institutional investors.

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.