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Investing.com - Piper Sandler initiated coverage on CG Oncology (NASDAQ:CGON) with an Overweight rating and a price target of $55.00 on Tuesday. The company, currently valued at $1.96 billion, trades at $26.13, with analyst targets ranging from $40 to $82.
The research firm noted that investor expectations for CG Oncology’s creto treatment have decreased in 2025, with CGON shares underperforming year-to-date, down 10% compared to the XBI index’s 1% gain. According to InvestingPro data, the stock has declined 27.58% over the past year, though it maintains strong financial health with a current ratio of 22.15.
According to Piper Sandler, the current stock price reflects low uptake in the initial HR-BCGUR NMIBC (high-risk BCG-unresponsive non-muscle invasive bladder cancer) setting and assigns no value for potential label extensions.
The firm highlighted that multiple catalysts for additional NMIBC settings are expected later this year, representing opportunities not currently priced into the stock.
Based on key opinion leader feedback, Piper Sandler views creto as one of two main players in the high-risk NMIBC space, supporting their bullish outlook on the oncology company.
In other recent news, CG Oncology has been the focus of several investment firms due to its developments in cancer treatment. Morgan Stanley (NYSE:MS) has raised its price target for CG Oncology to $56 from $52, maintaining an Overweight rating. This update reflects anticipated opportunities in the non-muscle invasive bladder cancer treatment space, with the launch of CG Oncology’s treatment "creto" expected in the second half of 2026. Meanwhile, RBC Capital has lowered its price target to $53 from $68, yet continues to rate the stock as Outperform. RBC Capital is optimistic about the upcoming updates in the second half of the year, particularly concerning the treatment’s potential impact on HR NMIBC and BCG-naive patients. Additionally, Goldman Sachs has resumed coverage with a Buy rating and a price target of $40, highlighting the competitive clinical profile of CG Oncology’s cretostimogene treatment for bladder cancer. These recent developments indicate significant interest from analysts in CG Oncology’s future performance in the cancer treatment market.
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