UroGen Pharma (NASDAQ:URGN) Sees Unusually-High Trading Volume Following Analyst Upgrade

Shares of UroGen Pharma Ltd. (NASDAQ:URGN) saw an uptick in trading volume on Monday after HC Wainwright upgraded the stock from a neutral rating to a buy rating. HC Wainwright now has a $50.00 price target on the stock. 2,166,518 shares were traded during mid-day trading, an increase of 119% from the previous session’s volume of 989,570 shares.The stock last traded at $14.28 and had previously closed at $12.03.

A number of other equities research analysts have also recently issued reports on URGN. Oppenheimer cut their price objective on shares of UroGen Pharma from $36.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, June 3rd. D. Boral Capital reaffirmed a “buy” rating and issued a $25.00 price target on shares of UroGen Pharma in a research report on Thursday. LADENBURG THALM/SH SH initiated coverage on UroGen Pharma in a report on Wednesday, February 19th. They issued a “buy” rating and a $31.00 price objective for the company. Guggenheim increased their price target on UroGen Pharma from $15.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday. Finally, The Goldman Sachs Group lowered their price target on shares of UroGen Pharma from $16.00 to $3.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $28.00.

Insider Activity

In other UroGen Pharma news, insider Mark Schoenberg sold 5,162 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $7.37, for a total value of $38,043.94. Following the transaction, the insider now directly owns 153,378 shares of the company’s stock, valued at approximately $1,130,395.86. The trade was a 3.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On UroGen Pharma

Several institutional investors have recently modified their holdings of URGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of UroGen Pharma by 4.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,667 shares of the company’s stock valued at $231,000 after purchasing an additional 969 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of UroGen Pharma by 0.8% in the 1st quarter. Wellington Management Group LLP now owns 148,078 shares of the company’s stock valued at $1,638,000 after acquiring an additional 1,125 shares in the last quarter. Rhumbline Advisers lifted its holdings in UroGen Pharma by 2.8% in the 4th quarter. Rhumbline Advisers now owns 51,270 shares of the company’s stock worth $546,000 after purchasing an additional 1,402 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of UroGen Pharma by 13.6% in the fourth quarter. MetLife Investment Management LLC now owns 22,766 shares of the company’s stock valued at $242,000 after purchasing an additional 2,727 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of UroGen Pharma by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 93,517 shares of the company’s stock worth $996,000 after buying an additional 3,024 shares during the period. Hedge funds and other institutional investors own 91.29% of the company’s stock.

UroGen Pharma Stock Up 18.8%

The company has a current ratio of 9.00, a quick ratio of 8.77 and a debt-to-equity ratio of 4.77. The firm’s fifty day moving average is $8.54 and its 200 day moving average is $10.03. The stock has a market cap of $658.96 million, a P/E ratio of -4.47 and a beta of 0.40.

UroGen Pharma (NASDAQ:URGN) last announced its earnings results on Monday, May 12th. The company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.09). The company had revenue of $20.25 million during the quarter, compared to analysts’ expectations of $22.71 million. As a group, equities research analysts forecast that UroGen Pharma Ltd. will post -3.12 EPS for the current year.

About UroGen Pharma

UroGen Pharma Ltd., a biotechnology company, engages in the development and commercialization of solutions for urothelial and specialty cancers. It offers RTGel, a novel proprietary polymeric biocompatible, reverse thermal gelation hydrogel technology to improve therapeutic profiles of existing drugs; and Jelmyto for pyelocalyceal solution.