Feb. 10 at 7:35 PM
Truist⬆️
$CGON's PT to
$75 and reiterated at a Buy rating.
$URGN JNJ
$IBRX MRK
$TARA PFE
$TYRA
Here's what Truist said:
CGON is set to disclose PIVOT-006 topline in IR NMIBC in 1H26 - a setting with a large addressable market & less competition where Creto is the most advanced candidate with broad disease coverage (LG/HG Ta, including newly diagnosed patients).
Here, we provide a mini-primer on the IR NMIBC landscape, and PIVOT-006's setup against our efficacy bars (HR, 12-mos RFS).
We see a potential for -/+30% stock move, & assign a 55% PoS to our Good/Best-case scenarios (PoS-adj 6% upside potential).
Ahead of data and following our market analysis, we fine-tune our model, lifting peak sales in IR NMIBC to
$1.8B (from
$1.4B), and increase our PT to
$75 (from
$66) - Reiterate Buy.
