On Tuesday, several major investment firms initiated coverage on CG Oncology (NASDAQ:CGON), a biotechnology company specializing in cancer treatments. Morgan Stanley (NYSE:MS) rated CG Oncology as Overweight with a price target of $55.00. Goldman Sachs (NYSE:GS) gave the company a Neutral rating and a 12-month price target. Cantor Fitzgerald also initiated coverage and issued an Overweight rating with a target price of $75.00. The following day, H.C. Wainwright joined in and gave CG Oncology a Buy rating with a price target of $75.00. The stock experienced a 9.9% increase in share price during mid-day trading on Monday.
Morgan Stanley and Goldman Sachs Initiate Coverage on CG Oncology
Morgan Stanley and Goldman Sachs, two major investment firms, have recently initiated coverage on CG Oncology (NASDAQ:CGON), a biotechnology company focused on cancer treatments. Morgan Stanley rated CG Oncology as Overweight, indicating their positive outlook on the company’s potential. They also set a price target of $55.00, suggesting substantial upside for investors. Meanwhile, Goldman Sachs gave CG Oncology a Neutral rating, indicating a more cautious stance. They also provided a 12-month price target for the stock, allowing investors to assess potential returns.
“Issuing coverage on CG Oncology, Morgan Stanley rates the company as Overweight, reaffirming their positive stance on the stock’s future prospects.”
“Goldman Sachs initiates coverage on CG Oncology with a Neutral rating, implying a more balanced outlook on the company’s performance.”
Cantor Fitzgerald and H.C. Wainwright Also Join In
Adding to the coverage, Cantor Fitzgerald and H.C. Wainwright both initiated coverage on CG Oncology as well. Cantor Fitzgerald issued an Overweight rating, aligning with Morgan Stanley’s positive assessment. They also set a target price of $75.00, indicating significant growth potential for the stock. On the other hand, H.C. Wainwright gave CG Oncology a Buy rating, expressing their confidence in the company. Their price target was also set at $75.00, in line with Cantor Fitzgerald’s outlook.
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“Cantor Fitzgerald initiates coverage on CG Oncology with an Overweight rating, suggesting a favorable outlook for the company’s future performance.”
“H.C. Wainwright joins in and rates CG Oncology as a Buy, indicating their belief in the company’s potential. They also set a target price of $75.00, matching Cantor Fitzgerald’s assessment.”
Stock Performance and Market Reaction
Following the initiations of coverage, CG Oncology’s stock experienced a 9.9% increase in share price during mid-day trading on Monday. This positive market reaction suggests that investors are responding favorably to the coverage and the potential upside indicated by the investment firms. The coverage from reputable firms like Morgan Stanley, Goldman Sachs, Cantor Fitzgerald, and H.C. Wainwright can provide valuable insights to investors considering CG Oncology as a potential investment.
- Morgan Stanley rates CG Oncology as Overweight with a price target of $55.00.
- Goldman Sachs rates CG Oncology as Neutral with a 12-month price target.
- Cantor Fitzgerald rates CG Oncology as Overweight with a target price of $75.00.
- H.C. Wainwright rates CG Oncology as Buy with a price target of $75.00.
- CG Oncology’s stock experienced a 9.9% increase in share price during mid-day trading on Monday.
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