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Investing.com - H.C. Wainwright reiterated a Buy rating on CG Oncology (NASDAQ:CGON) with a price target of $75.00, citing impressive clinical data from the company’s bladder cancer treatment. The target represents significant upside potential from the current price of $33.07, with analyst targets ranging from $40 to $82. According to InvestingPro data, the stock has shown strong momentum with a 23% gain in the past week.
The firm highlighted the 24-month update from the BOND-003 Cohort C study, which showed cretostimogene achieving a complete response rate of approximately 42% in patients with BCG-unresponsive high-risk non-muscle invasive bladder cancer (NMIBC).
H.C. Wainwright noted the treatment’s "unprecedented durability," with 90% of patients who responded at 12 months maintaining remission at the 24-month mark. The median duration of response now exceeds 28 months and is still ongoing.
Nearly 97% of patients avoided progression to muscle-invasive disease, which the firm described as underscoring the clinical significance of the dataset.
The research note also mentioned that enrollment in the pivotal PIVOT-006 trial for intermediate-risk, BCG-naïve disease finished nearly ten months ahead of schedule, which H.C. Wainwright believes de-risks the company’s expansion strategy and accelerates the timeline toward broader market capture.
In other recent news, CG Oncology announced significant findings from its Phase 3 BOND-003 Cohort C trial, revealing a 41.8% complete response rate at 24 months for its bladder cancer treatment, cretostimogene. This data, highlighting 46 out of 110 patients maintaining a complete response, underscores the treatment’s durability in high-risk non-muscle invasive bladder cancer. Additionally, CG Oncology has completed enrollment in its Phase 3 PIVOT-006 trial, evaluating cretostimogene as an adjuvant treatment for intermediate-risk bladder cancer, ahead of schedule. Piper Sandler has initiated coverage on CG Oncology with an Overweight rating, setting a price target of $55.00. Meanwhile, RBC Capital has adjusted its price target for the company to $53.00 from $68.00, maintaining an Outperform rating. The firm anticipates potential upside from upcoming updates in the second half of the year. These developments reflect ongoing interest and confidence in CG Oncology’s treatment advancements.
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