Truist Securities initiates coverage on CG Oncology stock with Buy rating

Investing.com - Truist Securities initiated coverage on CG Oncology (NASDAQ:CGON) with a Buy rating and a price target of $62.00 on Monday. The stock currently trades at $42.44, representing potential upside of 46% to Truist’s target. According to InvestingPro data, analyst consensus is strongly bullish with a 1.31 recommendation rating, while price targets range from $55 to $100.

The research firm cited the company’s ongoing Biologics License Application (BLA) rolling submission for its lead product Creto, which began in the fourth quarter of 2025, with a potential approval decision expected in late 2026.

Truist Securities views the initiation of the BLA submission as a possible indicator of management’s confidence in Creto’s approvability and the company’s readiness for manufacturing and launch in non-muscle invasive bladder cancer (NMIBC).

The firm believes Creto is competitively positioned with a potentially best-in-disease profile featuring differentiated durability compared to other treatments in the space.

Truist Securities also highlighted potential expansion opportunities for Creto into intermediate-risk NMIBC and additional high-risk settings, which could broaden the commercial opportunity for CG Oncology’s lead product.

In other recent news, CG Oncology has been making headlines with several key developments. The company announced its third-quarter 2025 earnings report and has started the process of filing its Biologics License Application (BLA), which has been a significant point of interest for investors. This progress led RBC Capital to raise its price target for CG Oncology from $53.00 to $61.00, while maintaining an Outperform rating. Additionally, Guggenheim initiated coverage on the company with a Buy rating and a price target of $90.00, citing the potential of cretostimogene in the non-muscle invasive bladder cancer market. H.C. Wainwright has also reiterated its Buy rating with a $75.00 price target, following the approval of Inlexzo and its potential pricing impact on CG Oncology’s cretostimogene therapy. Meanwhile, Jones Trading has joined the coverage with a Buy rating and a $50.00 price target, focusing on the development of cretostimogene grenadenorepvec. Furthermore, H.C. Wainwright highlighted strong clinical data, noting a complete response rate of approximately 42% in patients with high-risk non-muscle invasive bladder cancer. These developments underscore the growing interest and positive outlook from analysts regarding CG Oncology’s progress in cancer treatment.

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