Urogen Pharma (NASDAQ:URGN) Hits New 1-Year High - Time to Buy?

Key Points

• Urogen Pharma shares reached a new 52-week high of $48.21 and last traded near $47.94, giving the company a market capitalization of approximately $2.34 billion.
• Analyst sentiment is generally positive: the stock has a “Moderate Buy” consensus rating, with price targets ranging from $60 to $75 among recent bullish analysts, although one firm maintains a sell rating.
• The company exceeded quarterly revenue expectations with $72.46 million in sales but missed EPS estimates, reporting a loss of $0.28 per share versus the expected $0.26 loss. Insiders sold shares recently, while institutional investors collectively own 91.29% of the stock.

Urogen Pharma (NASDAQ:URGN - Get Free Report)'s share price hit a new 52-week high on Wednesday . The company traded as high as $48.21 and last traded at $47.9360, with a volume of 125669 shares traded. The stock had previously closed at $47.11.

Wall Street Analysts Forecast Growth

URGN has been the topic of several analyst reports. TD Cowen increased their price target on shares of Urogen Pharma from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. UBS Group restated a "buy" rating on shares of Urogen Pharma in a research note on Thursday, July 9th. Jefferies Financial Group raised Urogen Pharma to a "strong-buy" rating in a report on Friday, April 24th. HC Wainwright lifted their price target on Urogen Pharma from $45.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Urogen Pharma in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $48.78.

Urogen Pharma Stock Performance

The firm has a market cap of $2.34 billion, a P/E ratio of -24.21 and a beta of 1.57. The company's 50 day moving average is $37.24 and its 200 day moving average is $27.57.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.02). The firm had revenue of $72.46 million during the quarter, compared to the consensus estimate of $63.55 million. On average, equities research analysts anticipate that Urogen Pharma will post -0.2 EPS for the current year.

Insider Buying and Selling

In other Urogen Pharma news, insider Mark Schoenberg sold 10,000 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $40.00, for a total value of $400,000.00. Following the completion of the transaction, the insider directly owned 119,763 shares in the company, valued at approximately $4,790,520. This trade represents a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,222 shares of company stock valued at $892,661 in the last ninety days. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in URGN. Persistent Asset Partners Ltd acquired a new stake in Urogen Pharma during the 2nd quarter worth approximately $66,000. Mirae Asset Global Investments Co. Ltd. increased its position in Urogen Pharma by 27.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,275 shares of the company's stock valued at $53,000 after acquiring an additional 486 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Urogen Pharma by 1,594.4% during the third quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company's stock valued at $66,000 after acquiring an additional 3,125 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of Urogen Pharma by 491.2% during the second quarter. Osaic Holdings Inc. now owns 3,695 shares of the company's stock valued at $50,000 after acquiring an additional 3,070 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Urogen Pharma by 422.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the company's stock valued at $94,000 after acquiring an additional 5,571 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company's stock.

About Urogen Pharma

UroGen Pharma is a clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for uro-oncology and uro-genital diseases. Founded in 2010 and headquartered in Ra'anana, Israel, with offices in New York, UroGen applies its proprietary RTGel® reverse thermal gel delivery platform to create sustained-release formulations designed for in-office use by urologists.

The company's lead product, Jelmyto® (mitomycin gel), received U.S. Food and Drug Administration approval in 2020 for the treatment of adults with low-grade upper tract urothelial cancer.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source