Guggenheim initiated coverage on CG Oncology (NASDAQ:CGON) with a Buy rating and a $90.00 price target on Wednesday. The $2.9 billion market cap company has seen its shares surge 143.75% over the past six months, currently trading near its 52-week high of $40.65.
The research firm highlighted cretostimogene’s potential in the non-muscle invasive bladder cancer (NMIBC) market, citing its "best-in-class efficacy, durability and safety" for a treatment expected to enter FDA review next year.
Guggenheim noted that NMIBC patients seek therapies to avoid invasive operations or bladder removal, creating strong motivation to use the most durable product with a pristine safety profile - attributes the firm believes cretostimogene provides.
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