Scotiabank has initiated coverage of CG Oncology (CGON, Financial), assigning a Sector Perform rating and setting a price target of $23 for the stock. The company is focused on developing an innovative treatment for nonmuscle invasive bladder cancer (NMIBC), a field that Scotiabank considers ripe with commercial potential.
Despite the lack of a standout therapeutic solution in this segment, Scotiabank sees significant potential for market growth and believes that investor discussions will be robust as various options continue to evolve through 2027. The NMIBC market is currently at the early stages of development and is projected to have the capacity to generate billions in revenue over the next ten years.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 7 analysts, the average target price for CG Oncology Inc (CGON, Financial) is $68.00 with a high estimate of $82.00 and a low estimate of $55.00. The average target implies an upside of 238.14% from the current price of $20.11. More detailed estimate data can be found on the CG Oncology Inc (CGON) Forecast page.
Based on the consensus recommendation from 8 brokerage firms, CG Oncology Inc's (CGON, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
