HC Wainwright Issues Pessimistic Forecast for Urogen Pharma (NASDAQ:URGN) Stock Price

Key Points

• HC Wainwright reduced Urogen Pharma's price target from $50.00 to $40.00, reflecting a 125.35% potential upside from the current stock price while maintaining a "buy" rating.
• Urogen Pharma reported a quarterly EPS of ($1.05), missing estimates by ($0.23), and had a negative net margin of 164.44%.
• Insiders have sold a total of 17,833 shares worth approximately $280,567 in the last three months, indicating potential concerns regarding the company's stock performance.

Urogen Pharma (NASDAQ:URGN - Get Free Report) had its price target decreased by HC Wainwright from $50.00 to $40.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target would indicate a potential upside of 125.35% from the company's current price.

URGN has been the subject of a number of other reports. The Goldman Sachs Group set a $16.00 target price on shares of Urogen Pharma and gave the stock a "neutral" rating in a research note on Friday, June 13th. Oppenheimer set a $31.00 target price on shares of Urogen Pharma and gave the stock a "buy" rating in a research note on Friday, June 13th. Scotiabank reaffirmed an "outperform" rating on shares of Urogen Pharma in a research note on Friday, June 13th. Guggenheim reaffirmed a "buy" rating and issued a $30.00 target price (up from $15.00) on shares of Urogen Pharma in a research note on Friday, June 13th. Finally, D. Boral Capital reaffirmed a "buy" rating and issued a $25.00 target price on shares of Urogen Pharma in a research note on Tuesday, August 5th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $31.43.

Urogen Pharma Stock Performance

URGN opened at $17.75 on Monday. Urogen Pharma has a 52 week low of $3.42 and a 52 week high of $21.01. The firm has a market capitalization of $821.12 million, a PE ratio of -5.35 and a beta of 1.12. The company has a fifty day moving average price of $14.05 and a two-hundred day moving average price of $11.35.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.23). Urogen Pharma had a negative net margin of 164.44% and a negative return on equity of 97,487.15%. The firm had revenue of $24.22 million during the quarter, compared to analyst estimates of $23.06 million. Equities analysts forecast that Urogen Pharma will post -3.12 EPS for the current year.

Insider Activity

In other Urogen Pharma news, insider Mark Schoenberg sold 5,149 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $19.14, for a total value of $98,551.86. Following the sale, the insider owned 158,229 shares in the company, valued at $3,028,503.06. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Jason Drew Smith sold 7,522 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $19.14, for a total value of $143,971.08. Following the completion of the sale, the general counsel owned 41,492 shares in the company, valued at $794,156.88. This represents a 15.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,833 shares of company stock worth $280,567 over the last three months. Insiders own 4.70% of the company's stock.

Institutional Investors Weigh In On Urogen Pharma

Several hedge funds have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Urogen Pharma by 216.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,360,524 shares of the company's stock valued at $48,227,000 after purchasing an additional 2,983,368 shares during the last quarter. RTW Investments LP raised its holdings in Urogen Pharma by 1.3% in the 4th quarter. RTW Investments LP now owns 3,834,794 shares of the company's stock valued at $40,841,000 after acquiring an additional 47,447 shares during the period. RA Capital Management L.P. bought a new position in Urogen Pharma in the 1st quarter valued at about $35,461,000. Vestal Point Capital LP raised its holdings in Urogen Pharma by 32.1% in the 1st quarter. Vestal Point Capital LP now owns 2,152,957 shares of the company's stock valued at $23,812,000 after acquiring an additional 522,957 shares during the period. Finally, Toronto Dominion Bank bought a new position in Urogen Pharma in the 4th quarter valued at about $18,628,000. Institutional investors and hedge funds own 91.29% of the company's stock.

About Urogen Pharma

UroGen Pharma Ltd., a biotechnology company, engages in the development and commercialization of solutions for urothelial and specialty cancers. It offers RTGel, a novel proprietary polymeric biocompatible, reverse thermal gelation hydrogel technology to improve therapeutic profiles of existing drugs; and Jelmyto for pyelocalyceal solution.

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