Urogen Pharma (NASDAQ:URGN) Hits New 1-Year High - What's Next?

Key Points

• Urogen Pharma shares surged 16.3%, reaching a new 52-week high of $47.84 and last trading at $46.43, compared with a prior close of $39.92.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $43.67; ratings include one Strong Buy, eight Buys, one Hold, and one Sell.
• The company reported quarterly revenue of $72.46 million, ahead of expectations, but its loss of $0.28 per share was slightly wider than forecast. Insiders have sold $892,661 of shares over the past 90 days, while institutional investors own 91.29% of the stock.

Urogen Pharma (NASDAQ:URGN - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $47.84 and last traded at $46.43, with a volume of 2480596 shares. The stock had previously closed at $39.92.

Analysts Set New Price Targets

URGN has been the subject of several analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Urogen Pharma in a research report on Friday, July 17th. LADENBURG THALM/SH SH began coverage on shares of Urogen Pharma in a report on Monday, May 11th. They issued a "buy" rating and a $43.00 price objective for the company. Jefferies Financial Group raised Urogen Pharma to a "strong-buy" rating in a research report on Friday, April 24th. The Goldman Sachs Group reiterated a "neutral" rating and set a $44.00 target price on shares of Urogen Pharma in a research note on Wednesday, July 15th. Finally, Guggenheim lifted their target price on Urogen Pharma from $32.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Urogen Pharma currently has an average rating of "Moderate Buy" and an average target price of $43.67.

Urogen Pharma Trading Up 16.3%

The company's 50 day simple moving average is $35.73 and its 200-day simple moving average is $26.80. The firm has a market cap of $2.26 billion, a P/E ratio of -16.88 and a beta of 1.57.

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 for the quarter, compared to analysts' expectations of $63.55 million. On average, sell-side analysts anticipate that Urogen Pharma will post -0.76 earnings per share for the current year.

Insider Transactions at Urogen Pharma

In related news, insider Mark Schoenberg sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $40.00, for a total value of $400,000.00. Following the sale, the insider 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,222 shares of company stock valued at $892,661 in the last 90 days. Company insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Urogen Pharma

Several hedge funds and other institutional investors have recently modified their holdings of URGN. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Urogen Pharma by 50.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 276,696 shares of the company's stock worth $10,182,000 after buying an additional 93,192 shares during the last quarter. Glenmede Trust Co. NA purchased a new stake in Urogen Pharma during the first quarter valued at $189,000. Janus Henderson Group PLC purchased a new stake in Urogen Pharma during the first quarter valued at $343,000. Ally Bridge Group NY LLC bought a new position in Urogen Pharma in the first quarter valued at about $3,634,000. Finally, ADAR1 Capital Management LLC lifted its holdings in Urogen Pharma by 139.1% in the first quarter. ADAR1 Capital Management LLC now owns 395,459 shares of the company's stock valued at $7,110,000 after acquiring an additional 230,084 shares during the period. 91.29% of the stock is owned by institutional investors.

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