CG Oncology FY2024 EPS Estimate Boosted by Lifesci Capital

CG Oncology, Inc. (NASDAQ:CGON - Free Report) - Equities researchers at Lifesci Capital lifted their FY2024 EPS estimates for CG Oncology in a research note issued to investors on Tuesday, November 12th. Lifesci Capital analyst S. Slutsky now forecasts that the company will post earnings per share of ($1.41) for the year, up from their previous 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 - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.06. The company had revenue of $0.04 million for the quarter, compared to analysts' expectations of $0.30 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%.

Several other research firms have also issued reports on CGON. Roth Capital upgraded shares of CG Oncology to a "strong-buy" rating in a research report on Tuesday, August 27th. UBS Group began coverage on shares of CG Oncology in a research report on Thursday, October 24th. They set a "buy" rating and a $60.00 price target on the stock. HC Wainwright restated a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a research report on Tuesday. Bank of America restated a "buy" rating and issued a $65.00 target price on shares of CG Oncology in a research report on Tuesday, October 8th. Finally, 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 on the stock. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $63.88.

CG Oncology Stock Performance

Shares of NASDAQ CGON traded down $2.60 during trading hours on Friday, hitting $32.90. 754,729 shares of the stock were exchanged, compared to its average volume of 648,701. The company's fifty day simple moving average is $36.70 and its two-hundred day simple moving average is $34.73. CG Oncology has a 1-year low of $25.77 and a 1-year high of $50.23.

Insider Activity

In other news, Director Hong Fang Song sold 650,455 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $35.36, for a total value of $23,000,088.80. Following the completion of the sale, the director now owns 586,982 shares of the company's stock, valued at approximately $20,755,683.52. This represents a 52.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Institutional Investors Weigh In On CG Oncology

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new stake in CG Oncology during the first quarter worth approximately $492,000. Vanguard Group Inc. acquired a new stake in CG Oncology during the first quarter worth approximately $97,678,000. Ameritas Investment Partners Inc. acquired a new stake in CG Oncology during the first quarter worth approximately $102,000. American International Group Inc. acquired a new stake in CG Oncology during the first quarter worth approximately $13,443,000. Finally, Decheng Capital LLC acquired a new stake in CG Oncology during the first quarter worth approximately $239,642,000. Institutional investors and hedge funds own 26.56% of the company's stock.

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.