Urogen Pharma's (URGN) Buy Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright reaffirmed its Buy rating on Urogen Pharma and set a $75 price target, implying 123.47% upside from the previous close.
• Analyst sentiment remains broadly positive, with eight Buy ratings, one Hold, and one Sell; the consensus rating is Moderate Buy with a $52.38 price target.
• Urogen shares traded at $33.56, while the company’s latest quarter included $72.46 million in revenue—above estimates—but an EPS loss of $0.28 that missed expectations.

Urogen Pharma (NASDAQ:URGN - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at HC Wainwright in a report issued on Monday, Benzinga reports. They currently have a $75.00 price objective on the stock. HC Wainwright's target price indicates a potential upside of 123.47% from the company's previous close.

A number of other research firms also recently weighed in on URGN. TD Cowen upped their target price on Urogen Pharma from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Guggenheim raised their target price on Urogen Pharma from $42.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Jefferies Financial Group restated a "buy" rating and issued a $56.00 target price on shares of Urogen Pharma in a research note on Thursday, September 10th. Oppenheimer lifted their price target on Urogen Pharma from $40.00 to $50.00 and gave the company an "outperform" rating in a research report on Thursday, July 16th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $44.00 price target on shares of Urogen Pharma in a research note on Wednesday, July 15th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $52.38.

Urogen Pharma Stock Performance

Shares of NASDAQ URGN traded down $1.00 during midday trading on Monday, hitting $33.56. 207,455 shares of the company traded hands, compared to its average volume of 821,681. Urogen Pharma has a 12-month low of $16.36 and a 12-month high of $50.81. The firm has a market cap of $1.64 billion, a P/E ratio of -16.96 and a beta of 1.57. The stock has a 50-day moving average price of $43.16 and a 200 day moving average price of $35.39.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The business had revenue of $72.46 million for the quarter, compared to analyst estimates of $63.55 million. As a group, equities analysts expect that Urogen Pharma will post -0.20 earnings per share for the current year.

Insider Transactions at Urogen Pharma

In related news, General Counsel Jason Smith sold 1,519 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $42.54, for a total value of $64,618.26. Following the sale, the general counsel owned 53,141 shares in the company, valued at $2,260,618.14. This represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mark Schoenberg sold 871 shares of the firm's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $42.92, for a total value of $37,383.32. Following the transaction, the insider directly owned 59,882 shares of the company's stock, valued at approximately $2,570,135.44. This trade represents a 1.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,269 shares of company stock valued at $3,037,646 in the last ninety days. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Urogen Pharma

Several hedge funds and other institutional investors have recently modified their holdings of URGN. Persistent Asset Partners Ltd bought a new stake in shares of Urogen Pharma during the 2nd quarter valued at about $66,000. Quantbot Technologies LP bought a new position in shares of Urogen Pharma in the 2nd quarter worth approximately $78,000. Glenmede Trust Co. NA bought a new position in shares of Urogen Pharma in the 1st quarter worth approximately $189,000. The Manufacturers Life Insurance Company purchased a new position in shares of Urogen Pharma in the second quarter worth approximately $412,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Urogen Pharma in the second quarter worth approximately $431,000. 91.29% of the stock is owned by institutional investors.

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.