Analyst Andres Y. Maldonado from H.C. Wainwright reiterated a Buy rating on CG Oncology, Inc. (CGON – Research Report) and keeping the price target at $75.00.
Andres Y. Maldonado has given his Buy rating due to a combination of factors surrounding the promising clinical data and the potential market position of CG Oncology, Inc.’s product, cretostimogene. The analyst highlights the impressive complete response (CR) rates from the BOND-003 study, which suggest that cretostimogene could outperform competitors in treating high-risk non-muscle invasive bladder cancer (HR-NMIBC). The historical data shows a high retention of CR over significant periods, indicating a durable treatment effect. This durability, along with a favorable safety profile, strongly positions cretostimogene as a best-in-class therapy option, contributing to the Buy rating.
Moreover, Maldonado’s analysis includes a comparison with key competitors’ therapies, which reveals that even with an average drop in CR rates, cretostimogene is expected to maintain a superior baseline 12-month CR rate. The potential for cretostimogene to become a leading therapy in this space is further substantiated by its comparison to nadofaragene and pembrolizumab, with calculations forecasting a better performance. The anticipation of new data being presented at the upcoming American Urological Association Annual Meeting reinforces the analyst’s confidence in the therapy and supports the Buy recommendation along with a price target of $75.
Y. Maldonado covers the Healthcare sector, focusing on stocks such as Ikena Oncology, Werewolf Therapeutics, and Scholar Rock Holding. According to TipRanks, Y. Maldonado has an average return of 32.6% and a 60.98% success rate on recommended stocks.
In another report released on April 1, LifeSci Capital also maintained a Buy rating on the stock with a $86.00 price target.
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CG Oncology, Inc. (CGON) Company Description:
Read More on CGON:
- CG Oncology to Present Results on Cretostimogene at the AUA 2024 Annual Meeting
- Five new option listings and one option delisting on March 12th
- CG Oncology announces first patient dosed in PIVOT-006 Phase 3 trial
- CG Oncology initiated with an Overweight at Cantor Fitzgerald
- CG Oncology initiated with an Outperform at LifeSci Capital
