CG Oncology price target raised to $93 from $89 at Morgan Stanley

Morgan Stanley raised the firm’s price target on CG Oncology (CGON) to $93 from $89 and keeps an Overweight rating on the shares after the company announced that its PIVOT-006 Phase 3 trial in intermediate-risk non-muscle invasive bladder cancer will report topline data in the first half of 2026, nearly a year ahead of prior expectations. The accelerated timeline signals strong execution and high physician engagement, says the analyst, who increased the firm’s view of the odds of success in intermediate-risk NMIBC to 70% from 60%.