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CG Oncology Stock Surges 7% on Guggenheim’s Bullish Initiation
CG Oncology Stock Surges 7% on Guggenheim’s Bullish Initiation
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BTCCSquare news:
CG Oncology shares soared 7% Wednesday after Guggenheim analyst Brad Canino initiated coverage with a buy rating and $90 price target, more than double the stock's current trading level. The clinical-stage biotech focuses exclusively on non-muscle invasive bladder cancer treatment, with its cretostimogene candidate showing promise in clinical trials.
Canino highlighted the drug's large addressable market and potential pricing power, though regulatory hurdles remain. The stock's performance significantly outpaced the S&P 500's modest 0.6% gain, reflecting investor Optimism about the specialized biotech's prospects.
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