Urogen Pharma’s (URGN) Buy Rating Reaffirmed at HC Wainwright

Urogen Pharma (NASDAQ:URGN)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued on Monday, Benzinga reports. They presently have a $75.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 121.53% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $44.00 price target on shares of Urogen Pharma in a report on Wednesday, July 15th. Oppenheimer raised their price target on shares of Urogen Pharma from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. TD Cowen raised their price target on shares of Urogen Pharma from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Urogen Pharma in a report on Thursday. Finally, Jefferies Financial Group restated a “buy” rating and issued a $56.00 price target on shares of Urogen Pharma in a report on Thursday, September 10th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Urogen Pharma presently has a consensus rating of “Moderate Buy” and an average price target of $52.38.

Urogen Pharma Stock Down 2.0%

NASDAQ:URGN traded down $0.70 during trading hours on Monday, reaching $33.86. The company had a trading volume of 331,264 shares, compared to its average volume of 822,381. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -17.11 and a beta of 1.57. The business’s 50-day simple moving average is $43.16 and its two-hundred day simple moving average is $35.39. Urogen Pharma has a twelve month low of $16.36 and a twelve month high of $50.81.

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

Insider Buying and Selling at Urogen Pharma

In other Urogen Pharma news, insider Mark Schoenberg sold 60,677 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $47.05, for a total value of $2,854,852.85. Following the transaction, the insider directly owned 59,086 shares of the company’s stock, valued at approximately $2,779,996.30. This trade represents a 50.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Jason Smith sold 1,519 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $42.54, for a total transaction of $64,618.26. Following the completion of the transaction, the general counsel directly owned 53,141 shares in the company, valued at $2,260,618.14. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 65,269 shares of company stock valued at $3,037,646. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Persistent Asset Partners Ltd purchased a new position in Urogen Pharma during the second quarter worth about $66,000. Quantbot Technologies LP purchased a new position in Urogen Pharma during the second quarter worth about $78,000. Glenmede Trust Co. NA purchased a new position in Urogen Pharma during the first quarter worth about $189,000. Janus Henderson Group PLC purchased a new position in Urogen Pharma during the first quarter worth about $343,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Urogen Pharma during the second quarter worth about $412,000. 91.29% of the stock is owned by 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.