Urogen Pharma (NASDAQ:URGN) Hits New 12-Month High – Still a Buy?

Shares of Urogen Pharma (NASDAQ:URGN) reached a new 52-week high during trading on Wednesday . The company traded as high as $33.31 and last traded at $32.6690, with a volume of 51651 shares traded. The stock had previously closed at $31.95.

Analyst Ratings Changes

A number of research firms recently commented on URGN. Oppenheimer reiterated an “outperform” rating on shares of Urogen Pharma in a research note on Tuesday, June 2nd. D. Boral Capital reaffirmed a “buy” rating and set a $33.00 price target on shares of Urogen Pharma in a research note on Tuesday, March 31st. LADENBURG THALM/SH SH assumed coverage on Urogen Pharma in a research report on Monday, May 11th. They set a “buy” rating and a $43.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Urogen Pharma in a report on Monday, April 20th. Finally, Jefferies Financial Group raised Urogen Pharma to a “strong-buy” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.50.

Urogen Pharma Stock Up 2.3%

The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -12.21 and a beta of 1.59. The company’s 50-day simple moving average is $26.82 and its 200-day simple moving average is $22.94.

Urogen Pharma (NASDAQ:URGN) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.01. The company had revenue of $50.96 million for the quarter, compared to analyst estimates of $44.83 million. As a group, analysts expect that Urogen Pharma will post -0.98 EPS for the current fiscal year.

Insider Activity

In related news, insider Mark Schoenberg sold 5,222 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $27.30, for a total value of $142,560.60. Following the completion of the sale, the insider owned 139,763 shares in the company, valued at approximately $3,815,529.90. This represents a 3.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Urogen Pharma

Several hedge funds have recently bought and sold shares of URGN. Paradigm Biocapital Advisors LP purchased a new stake in shares of Urogen Pharma in the third quarter worth approximately $84,111,000. Soleus Capital Management L.P. purchased a new position in Urogen Pharma in the second quarter valued at about $29,934,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Urogen Pharma in the 4th quarter worth about $26,350,000. MPM Bioimpact LLC increased its position in Urogen Pharma by 597.3% in the 4th quarter. MPM Bioimpact LLC now owns 941,378 shares of the company’s stock worth $22,047,000 after purchasing an additional 806,378 shares during the last quarter. Finally, TCG Crossover Management LLC purchased a new stake in shares of Urogen Pharma during the 3rd quarter worth about $14,311,000. 91.29% of the stock is 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.