RBC Capital lowered the firm’s price target on CG Oncology (CGON) to $53 from $68 and keeps an Outperform rating on the shares. The firm is refreshing its views on the stock following key opinion leader discussions on Creto, additional diligence, and a meeting with the management, the analyst tells investors in a research note. RBC sees a favorable setup into the second half of the year, with topline readouts in HR NMIBC and BCG-naive patients likely to clear the bar and drive as much as 20% potential upside, the firm added.
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