Urogen Pharma (NASDAQ:URGN) Reaches New 52-Week High – Here’s What Happened

Shares of Urogen Pharma (NASDAQ:URGN) reached a new 52-week high during trading on Wednesday . The stock traded as high as $24.92 and last traded at $24.80, with a volume of 500011 shares trading hands. The stock had previously closed at $23.63.

Wall Street Analyst Weigh In

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

Urogen Pharma Stock Performance

The company has a market cap of $1.18 billion, a price-to-earnings ratio of -7.27 and a beta of 1.06. The company has a fifty day moving average of $18.83 and a two-hundred day moving average of $15.34.

Urogen Pharma (NASDAQ:URGN) last posted its earnings results on Thursday, November 6th. The company reported ($0.69) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.03. Urogen Pharma had a negative return on equity of 97,487.15% and a negative net margin of 170.59%.The firm had revenue of $27.48 million during the quarter, compared to the consensus estimate of $34.09 million. Equities analysts expect that Urogen Pharma will post -3.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Urogen Pharma news, CFO Chris Degnan sold 2,203 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $16.85, for a total value of $37,120.55. Following the completion of the transaction, the chief financial officer directly owned 2,280 shares in the company, valued at approximately $38,418. This represents a 49.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Jason Drew Smith sold 1,520 shares of the firm’s stock in a transaction on 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 directly owned 43,305 shares of the company’s stock, valued at approximately $827,558.55. This represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 4,594 shares of company stock valued at $82,813. 4.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Urogen Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. acquired a new position in shares of Urogen Pharma during the 1st quarter valued at $35,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Urogen Pharma by 216.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,360,524 shares of the company’s stock valued at $48,227,000 after acquiring an additional 2,983,368 shares in the last quarter. Soleus Capital Management L.P. acquired a new position in shares of Urogen Pharma during the second quarter worth approximately $29,934,000. SG Americas Securities LLC lifted its holdings in shares of Urogen Pharma by 607.1% in the 2nd quarter. SG Americas Securities LLC now owns 1,149,081 shares of the company’s stock worth $15,742,000 after purchasing an additional 986,567 shares in the last quarter. Finally, Vestal Point Capital LP grew its position in Urogen Pharma by 32.1% in the 1st quarter. Vestal Point Capital LP now owns 2,152,957 shares of the company’s stock valued at $23,812,000 after purchasing an additional 522,957 shares during the period. Institutional investors and hedge funds own 91.29% of the company’s stock.

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.