Urogen Pharma (NASDAQ:URGN) Issues Earnings Results, Beats Estimates By $0.03 EPS

Urogen Pharma (NASDAQ:URGN) posted its quarterly earnings results on Thursday. The company reported ($0.69) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.03, Zacks reports. The company had revenue of $27.48 million for the quarter, compared to analyst estimates of $34.09 million. Urogen Pharma had a negative net margin of 164.44% and a negative return on equity of 97,487.15%.

Urogen Pharma Stock Performance

Shares of URGN traded down $0.30 during trading hours on Friday, hitting $23.24. 2,072,560 shares of the stock were exchanged, compared to its average volume of 1,457,238. The stock’s 50-day moving average price is $18.60 and its two-hundred day moving average price is $14.99. Urogen Pharma has a 12-month low of $3.42 and a 12-month high of $23.90. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -7.00 and a beta of 1.06.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CFO Chris Degnan sold 2,203 shares of the stock in a transaction dated 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 sale, the chief financial officer directly owned 2,280 shares in the company, valued at $38,418. This represents a 49.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Jason Drew Smith sold 1,520 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $19.11, for a total transaction of $29,047.20. Following the completion of the transaction, the general counsel directly owned 43,305 shares in the company, valued at approximately $827,558.55. This represents a 3.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,594 shares of company stock valued at $259,713 in the last 90 days. 4.70% of the stock is owned by insiders.

Institutional Trading of Urogen Pharma

Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC raised its position in Urogen Pharma by 347.5% in the first quarter. AQR Capital Management LLC now owns 114,066 shares of the company’s stock valued at $1,262,000 after purchasing an additional 88,577 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Urogen Pharma by 7.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,320 shares of the company’s stock valued at $258,000 after buying an additional 1,653 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Urogen Pharma by 94.3% in the first quarter. Jane Street Group LLC now owns 51,177 shares of the company’s stock valued at $566,000 after buying an additional 24,839 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Urogen Pharma in the 2nd quarter valued at $361,000. Finally, JPMorgan Chase & Co. lifted its stake in Urogen Pharma by 5.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 390,364 shares of the company’s stock worth $5,348,000 after acquiring an additional 19,405 shares in the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

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.