Lifesci Capital Forecasts Stronger Earnings for CG Oncology

CG Oncology, Inc. (NASDAQ:CGON) – Stock analysts at Lifesci Capital lifted their FY2024 earnings per share (EPS) estimates for shares of CG Oncology in a report issued on Tuesday, November 12th. Lifesci Capital analyst S. Slutsky now forecasts that the company will earn ($1.41) per share for the year, up from their prior forecast 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.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada assumed coverage on shares of CG Oncology in a research note on Monday, September 23rd. They issued an “outperform” rating and a $66.00 price objective on the stock. Roth Mkm assumed coverage on CG Oncology in a report on Tuesday, August 27th. They set a “buy” rating and a $65.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research note on Tuesday, November 12th. Roth Capital raised CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Bank of America reiterated a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a report on Tuesday, October 8th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $63.88.

CG Oncology Price Performance

CGON opened at $32.90 on Friday. CG Oncology has a fifty-two week low of $25.77 and a fifty-two week high of $50.23. The company’s 50 day moving average price is $36.70 and its two-hundred day moving average price is $34.69.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data 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. The company had revenue of $0.04 million during 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%.

Insiders Place Their Bets

In other CG Oncology news, Director Hong Fang Song sold 650,455 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the transaction, the director now directly owns 586,982 shares in the company, valued at approximately $20,755,683.52. This represents a 52.56 % decrease in their position. The transaction 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 large investors have recently bought and sold shares of the stock. Amalgamated Bank raised its holdings in shares of CG Oncology by 107.6% during 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. acquired a new position in CG Oncology during the 1st quarter worth approximately $102,000. California State Teachers Retirement System acquired a new position in CG Oncology during the 1st quarter worth approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in CG Oncology in the third quarter worth approximately $241,000. Finally, Profund Advisors LLC acquired a new stake in CG Oncology in the second quarter valued at approximately $300,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.

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.