RBC Capital raised the firm’s price target on CG Oncology (CGON) to $61 from $53 and keeps an Outperform rating on the shares. CG Oncology’s Q3 update highlighted that its BLA filing is now underway, easing concerns about timing and keeping the company on track for a potentially strong non-muscle invasive bladder cancer launch with a more than $2.7B opportunity, the analyst tells investors in a research note. With additional Q4 catalysts ahead and a favorable safety/efficacy profile despite competitive questions, the outlook remains compelling, RBC says.
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