Short Interest in Urogen Pharma (NASDAQ:URGN) Declines By 29.9%

Urogen Pharma (NASDAQ:URGN - Get Free Report) was the recipient of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 3,920,000 shares, a decrease of 29.9% from the May 15th total of 5,590,000 shares. Based on an average daily trading volume, of 1,670,000 shares, the days-to-cover ratio is currently 2.3 days. Currently, 17.6% of the company's shares are sold short.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on URGN. Guggenheim reissued a "buy" rating and set a $30.00 price target (up previously from $15.00) on shares of Urogen Pharma in a research report on Friday, June 13th. Scotiabank reissued an "outperform" rating on shares of Urogen Pharma in a research note on Friday, June 13th. Oppenheimer set a $31.00 target price on Urogen Pharma and gave the company a "buy" rating in a research report on Friday, June 13th. HC Wainwright raised Urogen Pharma from a "neutral" rating to a "buy" rating and set a $50.00 price target for the company in a research report on Monday. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $25.00 price objective on shares of Urogen Pharma in a research report on Thursday, June 12th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $32.86.

Urogen Pharma Stock Down 1.1%

Shares of URGN stock traded down $0.17 during trading hours on Friday, reaching $14.70. 2,649,040 shares of the company's stock were exchanged, compared to its average volume of 1,037,812. The stock's fifty day moving average price is $8.90 and its two-hundred day moving average price is $10.12. The stock has a market cap of $677.77 million, a PE ratio of -4.62 and a beta of 0.40. The company has a current ratio of 5.65, a quick ratio of 5.47 and a debt-to-equity ratio of 4.77. Urogen Pharma has a 1 year low of $3.42 and a 1 year high of $18.15.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.09). Urogen Pharma had a negative return on equity of 97,487.15% and a negative net margin of 150.68%. The company had revenue of $20.25 million during the quarter, compared to analysts' expectations of $22.71 million. Research analysts predict that Urogen Pharma will post -3.12 EPS for the current year.

Insider Transactions at Urogen Pharma

In other Urogen Pharma news, insider Mark Schoenberg sold 5,162 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $7.37, for a total value of $38,043.94. Following the completion of the sale, the insider now directly owns 153,378 shares of the company's stock, valued at $1,130,395.86. The trade was a 3.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. RA Capital Management L.P. acquired a new position in Urogen Pharma in the 1st quarter worth approximately $35,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Urogen Pharma by 216.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,360,524 shares of the company's stock worth $48,227,000 after acquiring an additional 2,983,368 shares during the period. Toronto Dominion Bank purchased a new position in shares of Urogen Pharma during the fourth quarter worth $18,628,000. Acorn Capital Advisors LLC acquired a new position in Urogen Pharma during the fourth quarter valued at $16,149,000. Finally, Nantahala Capital Management LLC acquired a new position in Urogen Pharma during the fourth quarter valued at $14,608,000. 91.29% of the stock is owned by institutional investors and hedge funds.

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.