Urogen Pharma (NASDAQ:URGN) Hits New 52-Week High – Time to Buy?

Urogen Pharma (NASDAQ:URGN)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $49.98 and last traded at $49.5860, with a volume of 41402 shares. The stock had previously closed at $48.92.

Analyst Ratings Changes

A number of research firms recently issued reports on URGN. Oppenheimer lifted their target price on Urogen Pharma from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. TD Cowen upped their price target on shares of Urogen Pharma from $50.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Urogen Pharma in a research report on Friday, July 17th. UBS Group reaffirmed a “buy” rating on shares of Urogen Pharma in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $44.00 target price on shares of Urogen Pharma in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Urogen Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $50.38.

Urogen Pharma Price Performance

The firm has a market capitalization of $2.29 billion, a PE ratio of -23.64 and a beta of 1.57. The company has a fifty day moving average of $40.17 and a 200-day moving average of $28.95.

Urogen Pharma (NASDAQ:URGN) last issued its 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 during the quarter, compared to analysts’ expectations of $63.55 million. Equities analysts anticipate that Urogen Pharma will post -0.2 EPS for the current year.

Insider Buying and Selling

In related news, insider Mark Schoenberg sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,222 shares of company stock valued at $892,661 in the last 90 days. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Urogen Pharma

Institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Urogen Pharma by 27.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,275 shares of the company’s stock valued at $53,000 after acquiring an additional 486 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Urogen Pharma by 7.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,320 shares of the company’s stock worth $258,000 after purchasing an additional 1,653 shares during the last quarter. Persistent Asset Partners Ltd bought a new stake in Urogen Pharma during the second quarter worth approximately $66,000. Main Street Financial Solutions LLC boosted its position in Urogen Pharma by 8.2% during the second quarter. Main Street Financial Solutions LLC now owns 25,968 shares of the company’s stock worth $356,000 after purchasing an additional 1,968 shares during the period. Finally, Barclays PLC grew its holdings in Urogen Pharma by 3.8% during the fourth quarter. Barclays PLC now owns 57,744 shares of the company’s stock valued at $1,352,000 after purchasing an additional 2,125 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

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.