Analysts Issue Forecasts for CG Oncology FY2024 Earnings

CG Oncology, Inc. (NASDAQ:CGON) – HC Wainwright raised their FY2024 earnings per share (EPS) estimates for shares of CG Oncology in a research note issued on Wednesday, November 13th. HC Wainwright analyst A. Maldonado now anticipates that the company will post earnings of ($1.33) per share for the year, up from their previous estimate of ($1.54). 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 ($1.45) per share. HC Wainwright also issued estimates for CG Oncology’s Q4 2024 earnings at ($0.36) EPS, FY2025 earnings at ($1.94) EPS, FY2026 earnings at ($1.69) EPS, FY2027 earnings at ($1.18) EPS and FY2028 earnings at $0.39 EPS.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $0.30 million.

A number of other equities research analysts also recently commented on the company. Royal Bank of Canada initiated coverage on CG Oncology in a report on Monday, September 23rd. They issued an “outperform” rating and a $66.00 price objective for the company. Roth Capital raised shares of CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. Bank of America reaffirmed a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a research note on Tuesday, October 8th. Roth Mkm initiated coverage on shares of CG Oncology in a report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 price target for the company. Finally, UBS Group began coverage on CG Oncology in a report on Thursday, October 24th. They set a “buy” rating and a $60.00 target price on the stock. Eight analysts have rated the stock with a buy rating and one has given 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 Up 1.0 %

CGON opened at $35.50 on Friday. The company has a fifty day moving average price of $36.80 and a two-hundred day moving average price of $34.80. CG Oncology has a 52 week low of $25.77 and a 52 week high of $50.23.

Institutional Investors Weigh In On CG Oncology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank grew its holdings in shares of CG Oncology by 107.6% in the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock valued at $61,000 after acquiring an additional 840 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of CG Oncology in the 1st quarter valued at approximately $102,000. California State Teachers Retirement System bought a new position in shares of CG Oncology in the first quarter valued at $103,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in CG Oncology during the third quarter worth $241,000. Finally, Profund Advisors LLC bought a new stake in CG Oncology during the second quarter worth $300,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Hong Fang Song sold 650,455 shares of CG Oncology stock in a transaction that occurred on 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 $20,755,683.52. This trade represents a 52.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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.