CG Oncology price target raised to $89 from $82 at Morgan Stanley

Morgan Stanley analyst Sean Laaman raised the firm’s price target on CG Oncology (CGON) to $89 from $82 and keeps an Overweight rating on the shares. The firm sees a continuation of U.S. small-to-mid cap biotech’s outperformance in 2026 as commercial names transition from “capital consumers to producers” and Large Cap Biopharma faces a looming patent cliff, the analyst tells investors in an outlook note for the group.