Brokers Issue Forecasts for CG Oncology FY2029 Earnings

CG Oncology, Inc. (NASDAQ:CGON) – Research analysts at HC Wainwright issued their FY2029 earnings per share estimates for CG Oncology in a research note issued to investors on Monday, March 31st. HC Wainwright analyst A. Maldonado expects that the company will post earnings per share of $1.34 for the year. 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 ($1.31) per share.

CG Oncology (NASDAQ:CGON) last released its earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The company had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $0.11 million.

A number of other analysts also recently weighed in on CGON. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price target on shares of CG Oncology in a research report on Friday, December 6th. TD Cowen initiated coverage on CG Oncology in a research report on Tuesday, January 7th. They set a “buy” rating on the stock. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $55.00 price target on shares of CG Oncology in a research report on Friday, March 7th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $63.88.

CG Oncology Stock Performance

NASDAQ CGON opened at $22.24 on Wednesday. CG Oncology has a one year low of $21.61 and a one year high of $46.99. The company’s 50 day moving average price is $27.50 and its 200 day moving average price is $31.57. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -15.66 and a beta of 1.60.

Insider Transactions at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $29.66, for a total transaction of $29,660.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Institutional Trading of CG Oncology

A number of institutional investors and hedge funds have recently modified their holdings of CGON. Charles Schwab Investment Management Inc. increased its holdings in CG Oncology by 114.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company’s stock valued at $14,325,000 after buying an additional 202,262 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of CG Oncology by 21.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 73,149 shares of the company’s stock worth $2,760,000 after buying an additional 12,848 shares during the period. FMR LLC lifted its holdings in CG Oncology by 83,581.6% during the 3rd quarter. FMR LLC now owns 145,606 shares of the company’s stock valued at $5,494,000 after purchasing an additional 145,432 shares during the last quarter. BNP Paribas Financial Markets grew its stake in CG Oncology by 876.9% during the third quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company’s stock worth $1,006,000 after buying an additional 23,931 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in shares of CG Oncology by 103.2% in the 3rd quarter. MetLife Investment Management LLC now owns 27,132 shares of the company’s stock worth $1,024,000 after acquiring an additional 13,780 shares in the last quarter. 26.56% of the stock is currently owned by institutional investors.

About CG Oncology

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.