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On Monday, Cantor Fitzgerald reiterated its Overweight rating on CG Oncology (NASDAQ:CGON) with a steadfast price target of $75.00. The firm’s analyst, emphasizing the potential of CG Oncology’s product, stated, "We continue to believe creto can reach $2B+ in peak worldwide sales." According to InvestingPro data, analyst targets for CGON range from $23 to $82, with the stock currently trading at $22.37. The company, valued at $1.7 billion, has shown strong momentum with a 9.6% return over the past week. The analyst foresees creto emerging as a formidable competitor to TAR-200 for patients in the post-BCG setting, noting that approximately half of the patients treated with TAR-200 experience a relapse within a year, potentially positioning creto as the subsequent treatment option.
The analyst’s remarks come in the wake of the AUA 2025 conference, which marked a significant shift in tone from the previous year’s event. At AUA 2024, Johnson & Johnson (JNJ) presented a very aggressive narrative that challenged CG Oncology’s position. This year, however, the conference highlighted a different landscape for CG Oncology, with a more favorable outlook for creto.
CG Oncology’s creto is being positioned as a key player in the bladder cancer treatment market, especially after the first-line therapy, where TAR-200 is commonly used. The observation that a substantial number of patients relapse after initial treatment with TAR-200 suggests a sizeable market opportunity for creto. With the company’s next earnings report due on May 8, investors following InvestingPro metrics note that while revenue growth has been strong, analysts anticipate a sales decline in the current year. The platform offers 8 additional ProTips and comprehensive financial analysis through its Pro Research Report.
The Overweight rating by Cantor Fitzgerald indicates the firm’s confidence in CG Oncology’s stock performance potential, backed by the anticipated success of creto in the oncology market. The $75.00 price target reflects the firm’s assessment of the stock’s value based on the projected sales and market impact of creto.
The AUA conference serves as a platform for companies like CG Oncology to present their latest findings and products to the medical community. The change in narrative from AUA 2024 to AUA 2025 underscores the evolving dynamics within the industry and the potential for new treatments to alter the competitive landscape. CG Oncology’s focus on creto as a follow-up treatment for patients who have relapsed post-TAR-200 treatment represents a strategic move to capture a niche yet crucial segment of the bladder cancer therapy market.
In other recent news, CG Oncology has reported significant developments in its Phase 3 study of cretostimogene, a treatment for high-risk non-muscle invasive bladder cancer. The study revealed a 75.5% complete response rate among 110 patients, with a median duration of response exceeding 28 months. The data, presented at the European Association of Urology Congress, also highlighted a 46% complete response rate at 12 months and confirmed responses in 30 patients at the 24-month mark. Notably, the treatment showed a strong safety profile, with no Grade 3 or greater treatment-related adverse events reported. H.C. Wainwright maintained its Buy rating and $75 price target for CG Oncology, citing the sustained performance and durability of cretostimogene as key factors. The firm noted that the upcoming presentation at the American Urological Association 2025 meeting could be pivotal for the company. The analyst highlighted cretostimogene’s administration method as an advantage over competitors, potentially offering improved patient tolerability. The treatment’s ongoing evaluation in other clinical trials, including a Phase 3 monotherapy trial, underscores its potential impact on bladder cancer care. While the results are promising, CG Oncology cautions that cretostimogene’s safety and efficacy have not yet been established by the FDA.
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