Urogen Pharma (NASDAQ:URGN) Sets New 52-Week High – What’s Next?

Urogen Pharma (NASDAQ:URGN)’s share price reached a new 52-week high on Wednesday . The company traded as high as $33.31 and last traded at $32.6690, with a volume of 51651 shares. The stock had previously closed at $31.95.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on URGN. LADENBURG THALM/SH SH began coverage on Urogen Pharma in a report on Monday, May 11th. They issued a “buy” rating and a $43.00 price target on the stock. D. Boral Capital restated a “buy” rating and set a $33.00 price objective on shares of Urogen Pharma in a research note on Tuesday, March 31st. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective on shares of Urogen Pharma in a research report on Wednesday, June 3rd. Jefferies Financial Group upgraded shares of Urogen Pharma to a “strong-buy” rating in a report on Friday, April 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Urogen Pharma in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.50.

Urogen Pharma Trading Up 3.7%

The company’s 50-day moving average is $26.23 and its 200 day moving average is $22.88. The stock has a market capitalization of $1.61 billion, a PE ratio of -12.07 and a beta of 1.59.

Urogen Pharma (NASDAQ:URGN) last released its earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.01. The firm had revenue of $50.96 million during the quarter, compared to analyst estimates of $44.83 million. Sell-side analysts forecast that Urogen Pharma will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Urogen Pharma

In related news, insider Mark Schoenberg sold 5,222 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $27.30, for a total transaction of $142,560.60. Following the completion of the transaction, the insider owned 139,763 shares of the company’s stock, valued at $3,815,529.90. This trade represents a 3.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Urogen Pharma

Several hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Urogen Pharma by 27.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,275 shares of the company’s stock valued at $53,000 after buying an additional 486 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Urogen Pharma by 1,594.4% in the third quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company’s stock worth $66,000 after buying an additional 3,125 shares during the last quarter. Osaic Holdings Inc. grew its holdings in Urogen Pharma by 491.2% during the second quarter. Osaic Holdings Inc. now owns 3,695 shares of the company’s stock worth $50,000 after acquiring an additional 3,070 shares during the period. Tower Research Capital LLC TRC grew its holdings in Urogen Pharma by 422.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the company’s stock worth $94,000 after acquiring an additional 5,571 shares during the period. Finally, ProShare Advisors LLC purchased a new position in Urogen Pharma during the fourth quarter valued at approximately $206,000. 91.29% of the stock is owned by hedge funds and other institutional investors.

About Urogen Pharma

UroGen Pharma is a clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for uro-oncology and uro-genital diseases. Founded in 2010 and headquartered in Ra’anana, Israel, with offices in New York, UroGen applies its proprietary RTGel® reverse thermal gel delivery platform to create sustained-release formulations designed for in-office use by urologists.

The company’s lead product, Jelmyto® (mitomycin gel), received U.S. Food and Drug Administration approval in 2020 for the treatment of adults with low-grade upper tract urothelial cancer.