Urogen Pharma (NASDAQ:URGN) Stock Rated “Moderate Buy” by Wall Street Brokerages

Urogen Pharma (NASDAQ:URGN) has been given an average rating of “Moderate Buy” by the ten analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $52.38.

Several brokerages have recently weighed in on URGN. Guggenheim increased their target price on shares of Urogen Pharma from $42.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. UBS Group reaffirmed a “buy” rating on shares of Urogen Pharma in a research note on Thursday, July 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Urogen Pharma in a research report on Thursday. Oppenheimer upped their price target on Urogen Pharma from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Finally, TD Cowen increased their price target on Urogen Pharma from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th.

Urogen Pharma Stock Performance

Shares of NASDAQ URGN opened at $34.56 on Monday. Urogen Pharma has a twelve month low of $16.36 and a twelve month high of $50.81. The stock has a 50 day moving average of $43.16 and a two-hundred day moving average of $35.39. The stock has a market cap of $1.69 billion, a P/E ratio of -17.45 and a beta of 1.57.

Urogen Pharma (NASDAQ:URGN) last announced its earnings results on Wednesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The firm had revenue of $72.46 million for the quarter, compared to analyst estimates of $63.55 million. As a group, research analysts predict that Urogen Pharma will post -0.20 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Mark Schoenberg sold 60,677 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $47.05, for a total transaction of $2,854,852.85. Following the completion of the transaction, the insider directly owned 59,086 shares of the company’s stock, valued at $2,779,996.30. This represents a 50.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Chris Degnan sold 2,202 shares of Urogen Pharma stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $36.69, for a total value of $80,791.38. Following the completion of the sale, the chief financial officer directly owned 4,561 shares in the company, valued at $167,343.09. This represents a 32.56% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 65,269 shares of company stock worth $3,037,646. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Urogen Pharma

Large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Urogen Pharma during the 2nd quarter worth $117,814,000. Jefferies Financial Group Inc. purchased a new stake in Urogen Pharma during the second quarter worth $80,947,000. SG Americas Securities LLC boosted its position in Urogen Pharma by 20.3% during the first quarter. SG Americas Securities LLC now owns 1,657,846 shares of the company’s stock worth $29,808,000 after purchasing an additional 280,199 shares in the last quarter. Opaleye Management Inc. increased its position in shares of Urogen Pharma by 0.7% in the second quarter. Opaleye Management Inc. now owns 1,439,996 shares of the company’s stock valued at $52,992,000 after buying an additional 9,996 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Urogen Pharma during the 4th quarter worth $26,350,000. 91.29% of the stock is owned by hedge funds and other institutional investors.

About Urogen Pharma

UroGen Pharma Ltd. is a biopharmaceutical company focused on developing and commercializing therapies for cancers of the urinary tract. The company’s platform is based on RTGel, a proprietary reverse-thermal hydrogel designed to retain medicines in the urinary tract and provide localized treatment while limiting systemic exposure.

UroGen’s lead commercial product is JELMYTO (mitomycin), a gel-based therapy approved by the U.S. Food and Drug Administration for the primary chemoablation of low-grade upper tract urothelial cancer in adults.