Urogen Pharma (NASDAQ:URGN) Stock Price Down 9.9% – Here’s What Happened

Urogen Pharma (NASDAQ:URGN) shares were down 9.9% during trading on Thursday. The stock traded as low as $38.60 and last traded at $36.67. Approximately 93,420 shares changed hands during trading, a decline of 88% from the average daily volume of 799,128 shares. The stock had previously closed at $40.70.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on URGN. Jefferies Financial Group restated a “buy” rating and set a $56.00 price objective on shares of Urogen Pharma in a research report on Thursday, September 10th. The Goldman Sachs Group reissued a “neutral” rating and set a $44.00 price target on shares of Urogen Pharma in a research note on Wednesday, July 15th. UBS Group restated a “buy” rating on shares of Urogen Pharma in a report on Thursday, July 9th. Guggenheim lifted their price objective on Urogen Pharma from $42.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, HC Wainwright upped their price objective on Urogen Pharma from $45.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.38.

Urogen Pharma Stock Down 13.3%

The company has a 50 day simple moving average of $43.93 and a two-hundred day simple moving average of $34.44. The company has a market capitalization of $1.72 billion, a P/E ratio of -17.79 and a beta of 1.57.

Urogen Pharma (NASDAQ:URGN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The firm had revenue of $72.46 million during the quarter, compared to analyst estimates of $63.55 million. As a group, research analysts expect that Urogen Pharma will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at Urogen Pharma

In other Urogen Pharma news, insider Mark Schoenberg sold 871 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $42.92, for a total transaction of $37,383.32. Following the transaction, the insider owned 59,882 shares in the company, valued at $2,570,135.44. The trade was a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Jason Smith sold 1,519 shares of the 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 sale, the general counsel directly owned 53,141 shares in the company, valued at approximately $2,260,618.14. This represents a 2.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 63,067 shares of company stock worth $2,956,854 in the last 90 days. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Urogen Pharma

Several institutional investors have recently made changes to their positions in URGN. Partners Capital Investment Group LLP bought a new stake in shares of Urogen Pharma during the 2nd quarter worth approximately $566,000. Legal & General Group Plc bought a new position in Urogen Pharma in the 2nd quarter valued at $1,319,000. California State Teachers Retirement System increased its stake in Urogen Pharma by 1,605.5% in the first quarter. California State Teachers Retirement System now owns 38,750 shares of the company’s stock worth $697,000 after purchasing an additional 36,478 shares during the period. Rice Hall James & Associates LLC bought a new stake in shares of Urogen Pharma during the second quarter worth $11,064,000. Finally, Deutsche Bank AG bought a new stake in shares of Urogen Pharma during the second quarter worth $1,897,000. Institutional investors own 91.29% of the company’s stock.

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.