Urogen Pharma (NASDAQ:URGN) Stock: Insider Chris Degnan Sells 2,202 Shares

Key Points

• CFO Chris Degnan sold 2,202 Urogen Pharma shares at an average price of $36.69, generating $80,791.38 and reducing his holdings by 32.56% to 4,561 shares.
• Urogen’s stock traded at $37.51, with a market capitalization of approximately $1.83 billion. The company recently reported a quarterly loss of $0.28 per share, while revenue of $72.46 million exceeded analyst expectations.
• Analysts maintain a “Moderate Buy” consensus with a $52.38 price target; eight rate the stock Buy, one rates it Hold, and one rates it Sell. Institutional investors and hedge funds own 91.29% of the shares.

Urogen Pharma (NASDAQ:URGN - Get Free Report) CFO Chris Degnan sold 2,202 shares of the business's stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $36.69, for a total value of $80,791.38. Following the transaction, the chief financial officer owned 4,561 shares of the company's stock, valued at approximately $167,343.09. The trade was a 32.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Urogen Pharma Stock Performance

Urogen Pharma stock traded up $0.53 during midday trading on Friday, hitting $37.51. 477,184 shares of the company's stock were exchanged, compared to its average volume of 807,435. The company has a market cap of $1.83 billion, a PE ratio of -18.88 and a beta of 1.57. The firm has a 50-day moving average of $43.85 and a two-hundred day moving average of $34.58. Urogen Pharma has a 12 month low of $15.86 and a 12 month high of $50.81.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.28) 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 analysts' expectations of $63.55 million. As a group, equities analysts expect that Urogen Pharma will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Urogen Pharma

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Urogen Pharma in a research report on Friday, July 17th. The Goldman Sachs Group reissued a "neutral" rating and issued a $44.00 price target on shares of Urogen Pharma in a research report on Wednesday, July 15th. TD Cowen upped their price objective on shares of Urogen Pharma from $50.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Oppenheimer raised their price objective on Urogen Pharma from $40.00 to $50.00 and gave the stock an "outperform" rating in a report on Thursday, July 16th. Finally, Guggenheim lifted their target price on Urogen Pharma from $42.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.38.

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.

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