Sean Laaman, an analyst from Morgan Stanley, maintained the Buy rating on CG Oncology, Inc. (CGON – Research Report). The associated price target remains the same with $55.00.
Sean Laaman has given his Buy rating due to a combination of factors, primarily highlighting the promising data from CG Oncology’s Phase 3 BOND-003 trial. The trial results indicate a strong performance of cretostimogene in treating high-risk non-muscle invasive bladder cancer (NMIBC), with a complete response rate of 75.5% at any time and a 12-month complete response rate of 46%. These figures are consistent with previous results, showcasing the durability and effectiveness of the treatment.
Furthermore, the median duration of response has exceeded 28 months, with an estimated probability of maintaining this response at 24 months being 58.7%. This durability, combined with a favorable safety and tolerability profile, positions cretostimogene as a competitive option in the bladder cancer treatment landscape. Laaman believes that these factors, along with the potential for meaningful peak sales, support a positive outlook for CG Oncology’s stock.
According to TipRanks, Laaman is a 3-star analyst with an average return of 3.6% and a 59.09% success rate. Laaman covers the Healthcare sector, focusing on stocks such as Halozyme, Exelixis, and ACADIA Pharmaceuticals.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $75.00 price target.