Urogen Pharma (NASDAQ:URGN) Reaches New 12-Month High on Analyst Upgrade

Urogen Pharma (NASDAQ:URGN)’s stock price reached a new 52-week high during mid-day trading on Thursday after Guggenheim raised their price target on the stock from $42.00 to $58.00. Guggenheim currently has a buy rating on the stock. Urogen Pharma traded as high as $47.84 and last traded at $46.43, with a volume of 2480596 shares traded. The stock had previously closed at $39.92.

Several other research firms also recently weighed in on URGN. UBS Group restated a “buy” rating on shares of Urogen Pharma in a report on Thursday, July 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Urogen Pharma in a research report on Friday, July 17th. HC Wainwright raised their price objective on shares of Urogen Pharma from $45.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group restated a “neutral” rating and set a $44.00 price objective on shares of Urogen Pharma in a research report on Wednesday, July 15th. Finally, Oppenheimer upped their target price on Urogen Pharma from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Urogen Pharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.78.

Insider Buying and Selling

In other Urogen Pharma news, insider Mark Schoenberg sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. Following the transaction, the insider owned 119,763 shares of the company’s stock, valued at $4,790,520. This trade represents a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,222 shares of company stock worth $892,661 over the last ninety days. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its position in shares of 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 purchasing an additional 3,070 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Urogen Pharma by 27.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,275 shares of the company’s stock valued at $53,000 after acquiring an additional 486 shares during the period. Persistent Asset Partners Ltd bought a new position in Urogen Pharma in the 2nd quarter worth about $66,000. Russell Investments Group Ltd. increased its position in Urogen Pharma by 1,594.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company’s stock valued at $66,000 after acquiring an additional 3,125 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Urogen Pharma by 422.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the company’s stock worth $94,000 after purchasing an additional 5,571 shares during the period. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Urogen Pharma Price Performance

The stock has a market cap of $2.30 billion, a P/E ratio of -23.72 and a beta of 1.57. The company has a fifty day moving average of $36.44 and a 200 day moving average of $27.12.

Urogen Pharma (NASDAQ:URGN) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The business had revenue of $72.46 million during the quarter, compared to the consensus estimate of $63.55 million. As a group, analysts anticipate that Urogen Pharma will post -0.76 EPS for the current year.

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.