CG Oncology price target raised to $79 from $73 at RBC Capital

RBC Capital raised the firm’s price target on CG Oncology (CGON) to $79 from $73 and keeps an Outperform rating on the shares. One of the most complex catalysts in the firm’s 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, the analyst tells investors in a research note. RBC adds that it expects data from the trial in early June and creto to deliver a 40% risk reduction, driving 20% upside in shares.