Urogen Pharma (NASDAQ:URGN) Sets New 12-Month High After Analyst Upgrade

Urogen Pharma (NASDAQ:URGN)’s stock price hit a new 52-week high during 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.

A number of other brokerages have also weighed in on URGN. HC Wainwright upped their target price on shares of Urogen Pharma from $45.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday. TD Cowen lifted their price target on Urogen Pharma from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group restated a “buy” rating on shares of Urogen Pharma in a report on Thursday, July 9th. LADENBURG THALM/SH SH began coverage on Urogen Pharma in a research report on Monday, May 11th. They set a “buy” rating and a $43.00 price objective for the company. Finally, Jefferies Financial Group upgraded Urogen Pharma to a “strong-buy” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.78.

Insiders Place Their Bets

In related news, insider Mark Schoenberg sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $40.00, for a total value of $400,000.00. Following the completion of the transaction, the insider owned 119,763 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, 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 valued at $892,661 over the last ninety days. 4.80% of the stock is currently owned by company insiders.

Institutional Trading of Urogen Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of URGN. Swiss National Bank acquired a new position in Urogen Pharma during the first quarter valued at approximately $1,399,000. SG Americas Securities LLC increased its position in shares of Urogen Pharma by 20.3% during the 1st 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 during the last quarter. ADAR1 Capital Management LLC increased its position in shares of Urogen Pharma by 139.1% during the 1st quarter. ADAR1 Capital Management LLC now owns 395,459 shares of the company’s stock worth $7,110,000 after purchasing an additional 230,084 shares during the last quarter. Rice Hall James & Associates LLC raised its stake in shares of Urogen Pharma by 8.8% during the 4th quarter. Rice Hall James & Associates LLC now owns 281,876 shares of the company’s stock worth $6,602,000 after purchasing an additional 22,733 shares in the last quarter. Finally, Elmind Capital LP bought a new stake in shares of Urogen Pharma during the 4th quarter worth approximately $2,342,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

Urogen Pharma Stock Performance

The company has a market cap of $2.30 billion, a price-to-earnings ratio of -23.72 and a beta of 1.57. The firm has a fifty day moving average price of $36.44 and a 200 day moving average price of $27.12.

Urogen Pharma (NASDAQ:URGN) last issued its earnings results on Wednesday, August 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The company had revenue of $72.46 million for the quarter, compared to analyst estimates of $63.55 million. On average, analysts expect that Urogen Pharma will post -0.76 EPS for the current fiscal 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.