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

Urogen Pharma (NASDAQ:URGN)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $40.40 and last traded at $39.19, with a volume of 556070 shares changing hands. The stock had previously closed at $39.51.

Analysts Set New Price Targets

A number of analysts recently weighed in on URGN shares. Jefferies Financial Group upgraded shares of Urogen Pharma to a “strong-buy” rating in a research note on Friday, April 24th. UBS Group restated a “buy” rating on shares of Urogen Pharma in a research note on Thursday, July 9th. D. Boral Capital reaffirmed a “buy” rating and issued a $33.00 target price on shares of Urogen Pharma in a report on Tuesday, March 31st. HC Wainwright reiterated a “buy” rating on shares of Urogen Pharma in a research note on Thursday, July 9th. Finally, LADENBURG THALM/SH SH assumed coverage on Urogen Pharma in a report on Monday, May 11th. They set a “buy” rating and a $43.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.50.

Urogen Pharma Stock Performance

The company has a market cap of $1.91 billion, a price-to-earnings ratio of -14.25 and a beta of 1.56. The company has a 50-day simple moving average of $31.90 and a 200-day simple moving average of $24.66.

Urogen Pharma (NASDAQ:URGN) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.01. The business had revenue of $50.96 million during the quarter, compared to analyst estimates of $44.83 million. As a group, equities research analysts forecast that Urogen Pharma will post -0.88 EPS for the current year.

Insider Transactions at Urogen Pharma

In other Urogen Pharma news, insider Mark Schoenberg sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $40.00, for a total value of $400,000.00. Following the completion of the sale, the insider owned 119,763 shares of the company’s stock, valued at approximately $4,790,520. This trade represents a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,222 shares of company stock valued at $892,661 in the last three months. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Urogen Pharma

Several institutional investors have recently made changes to their positions in URGN. Hennion & Walsh Asset Management Inc. increased its holdings in Urogen Pharma by 50.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 276,696 shares of the company’s stock valued at $10,182,000 after buying an additional 93,192 shares in the last quarter. Glenmede Trust Co. NA acquired a new stake in shares of Urogen Pharma during the 1st quarter valued at approximately $189,000. Janus Henderson Group PLC purchased a new stake in shares of Urogen Pharma during the 1st quarter worth approximately $343,000. Ally Bridge Group NY LLC purchased a new stake in shares of Urogen Pharma during the 1st quarter worth approximately $3,634,000. Finally, ADAR1 Capital Management LLC grew its holdings in shares of Urogen Pharma by 139.1% in the 1st quarter. ADAR1 Capital Management LLC now owns 395,459 shares of the company’s stock worth $7,110,000 after acquiring an additional 230,084 shares during the period. 91.29% of the stock is currently 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.