HC Wainwright Forecasts CG Oncology FY2029 Earnings

CG Oncology, Inc. (NASDAQ:CGON) – Equities researchers at HC Wainwright issued their FY2029 earnings per share estimates for shares of CG Oncology in a report released on Monday, March 31st. HC Wainwright analyst A. Maldonado expects that the company will earn $1.34 per share for the year. HC Wainwright currently has a “Buy” rating and a $75.00 target price on the stock. The consensus estimate for CG Oncology’s current full-year earnings is ($1.31) per share.

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

A number of other brokerages also recently commented on CGON. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 target price on shares of CG Oncology in a research note on Friday, December 6th. Morgan Stanley reiterated an “overweight” rating and set a $55.00 price target on shares of CG Oncology in a report on Friday, March 7th. Finally, TD Cowen assumed coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They set a “buy” rating for the company. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, 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 business has a fifty day moving average price of $27.50 and a 200 day moving average price of $31.57. The company has a market cap of $1.69 billion, a P/E ratio of -15.66 and a beta of 1.60.

Hedge Funds Weigh In On CG Oncology

Several institutional investors have recently added to or reduced their stakes in CGON. GF Fund Management CO. LTD. purchased a new stake in shares of CG Oncology during the fourth quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in CG Oncology in the 4th quarter valued at approximately $68,000. KLP Kapitalforvaltning AS purchased a new position in shares of CG Oncology during the 4th quarter worth approximately $100,000. Federated Hermes Inc. purchased a new position in shares of CG Oncology during the 4th quarter worth approximately $172,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of CG Oncology in the 4th quarter valued at approximately $189,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

Insider Activity

In related news, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was 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 available at this link.

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.