CG Oncology (CGON) PT Raised to $79 at RBC Capital

RBC Capital analyst Leonid Timashev raised the price target on CG Oncology (NASDAQ: CGON) to $79.00 (from $73.00) while maintaining a Outperform rating.

The analyst comments "We feel one of the most complex catalysts in our universe is PIVOT-006, given both limited data from which to base readout expectations on a fundamental basis, and the recent run-up and future catalyst path from a tactical perspective. Here, we look to pull apart key features of the catalyst to build a plausible picture of the upcoming data cut based on mgmt commentary, KOL feedback, and an in-depth analysis of the academic literature. Based on our work, we expect data from the trial in early June and creto to deliver a ~40% risk reduction, driving 20% upside in shares. Given the large >$1.2B U.S. opportunity for creto in IR, which builds on its already impressive profile in HR and physician excitement, we continue to like the setup, and would be buyers. Tgt to $79."

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