Analyst Andres Y. Maldonado of H.C. Wainwright reiterated a Buy rating on CG Oncology, Inc. (CGON – Research Report), retaining the price target of $75.00.
Andres Y. Maldonado’s rating is based on a combination of factors surrounding CG Oncology, Inc.’s promising clinical trial outcomes and market potential. CG Oncology’s lead product, cretostimogene (creto), has shown a high complete response (CR) rate in patients with high-risk, BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) during its Phase 2 CORE-001 trial. The trial demonstrated an impressive 85% CR rate post-induction, with durable responses at 6 and 12 months, suggesting the potential for significant long-term benefits. The favorable safety profile of creto, in line with expectations for a PD-1 combination treatment, further strengthens the investment case. Maldonado anticipates continued durability in results, which could lead to substantial market adoption and peak sales, supporting a Buy rating and a $75 price target for CGON shares.
Furthermore, Maldonado acknowledges the competitive landscape, comparing creto with Johnson & Johnson’s TAR-200. Despite the competition, Maldonado believes there is ample space in the NMIBC market for creto, even if TAR-200 shows slightly superior 12-month CR rates. He notes that the potential peak sales for creto are substantial and are projected to capture a considerable share of the market by 2034. The analyst also points out the safety advantages of creto and the growing investor confidence in its favorable safety profile over the long term. Given the clinical data, market potential, and safety profile, Maldonado concludes that CG Oncology’s stock is an attractive investment, warranting the Buy recommendation.
In another report released yesterday, LifeSci Capital also assigned a Buy rating to the stock with a $86.00 price target.
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CG Oncology, Inc. (CGON) Company Description:
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