Urogen Pharma (NASDAQ:URGN) Sets New 1-Year High After Strong Earnings

Shares of Urogen Pharma (NASDAQ:URGN) hit a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $23.00 and last traded at $22.1330, with a volume of 1810385 shares traded. The stock had previously closed at $19.31.

The company reported ($0.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.01. Urogen Pharma had a negative return on equity of 97,487.15% and a negative net margin of 164.44%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on URGN shares. D. Boral Capital restated a “buy” rating and set a $25.00 price objective on shares of Urogen Pharma in a research report on Monday, October 27th. Wall Street Zen lowered Urogen Pharma from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Urogen Pharma in a research report on Wednesday, October 8th. Piper Sandler began coverage on Urogen Pharma in a research note on Monday, August 18th. They set an “overweight” rating and a $36.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Urogen Pharma in a research note on Monday, October 27th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Insider Buying and Selling at Urogen Pharma

In other Urogen Pharma news, General Counsel Jason Drew Smith sold 1,520 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $19.11, for a total value of $29,047.20. Following the transaction, the general counsel owned 43,305 shares in the company, valued at $827,558.55. The trade was a 3.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Chris Degnan sold 2,203 shares of the company’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $16.85, for a total value of $37,120.55. Following the sale, the chief financial officer owned 2,280 shares of the company’s stock, valued at approximately $38,418. This trade represents a 49.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,594 shares of company stock worth $259,713 over the last 90 days. 4.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Urogen Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wyoming acquired a new stake in Urogen Pharma during the 3rd quarter valued at $66,000. Osaic Holdings Inc. boosted its position in Urogen Pharma by 491.2% in the 2nd quarter. Osaic Holdings Inc. now owns 3,695 shares of the company’s stock valued at $50,000 after buying an additional 3,070 shares during the last quarter. Strs Ohio bought a new position in Urogen Pharma in the 3rd quarter valued at $76,000. CWM LLC boosted its position in Urogen Pharma by 18.0% in the 3rd quarter. CWM LLC now owns 4,271 shares of the company’s stock valued at $85,000 after buying an additional 650 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Urogen Pharma by 422.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the company’s stock valued at $94,000 after buying an additional 5,571 shares during the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Urogen Pharma Stock Performance

The stock has a market capitalization of $1.02 billion, a P/E ratio of -6.61 and a beta of 1.06. The stock has a 50-day simple moving average of $18.52 and a 200 day simple moving average of $14.93.

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.