Urogen Pharma (NASDAQ:URGN) Rating Increased to Hold at Wall Street Zen

Key Points

• Urogen Pharma was upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment regarding the stock's performance.
• Oppenheimer has set a price target of $31.00 on Urogen Pharma shares, while the average target price among analysts is $32.00, indicating potential upside for investors.
• The company reported earnings of ($1.05) per share, missing analyst estimates, and had a revenue of $24.22 million, surpassing expectations, highlighting mixed financial performance.

Wall Street Zen upgraded shares of Urogen Pharma (NASDAQ:URGN - Free Report) from a sell rating to a hold rating in a research note published on Saturday morning.

Several other equities analysts also recently weighed in on URGN. Scotiabank restated an "outperform" rating on shares of Urogen Pharma in a report on Friday, June 13th. The Goldman Sachs Group set a $16.00 target price on Urogen Pharma and gave the stock a "neutral" rating in a research report on Friday, June 13th. HC Wainwright lowered their price objective on Urogen Pharma from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. D. Boral Capital reissued a "buy" rating and issued a $25.00 price target on shares of Urogen Pharma in a report on Tuesday, August 5th. Finally, Piper Sandler started coverage on Urogen Pharma in a report on Monday, August 18th. They issued an "overweight" rating and a $36.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Urogen Pharma has an average rating of "Buy" and a consensus price target of $32.00.

Urogen Pharma Trading Up 4.3%

Urogen Pharma stock traded up $0.77 on Friday, hitting $18.87. 767,457 shares of the stock traded hands, compared to its average volume of 1,186,928. The firm has a market cap of $872.93 million, a P/E ratio of -5.68 and a beta of 1.10. The business's fifty day simple moving average is $18.54 and its 200 day simple moving average is $13.10. Urogen Pharma has a 1 year low of $3.42 and a 1 year high of $21.71.

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

Insiders Place Their Bets

In other news, General Counsel Jason Drew Smith sold 1,520 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $19.11, for a total value of $29,047.20. Following the transaction, the general counsel directly owned 43,305 shares in the company, valued at approximately $827,558.55. This represents a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Schoenberg sold 10,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $17.69, for a total transaction of $176,900.00. Following the completion of the transaction, the insider directly owned 148,229 shares in the company, valued at $2,622,171.01. This represents a 6.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,062 shares of company stock valued at $465,115 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 made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Urogen Pharma by 216.6% in 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 worth $48,227,000 after buying an additional 2,983,368 shares during the period. RA Capital Management L.P. purchased a new stake in shares of Urogen Pharma in the 1st quarter worth $35,461,000. Soleus Capital Management L.P. purchased a new stake in shares of Urogen Pharma in the 2nd quarter worth $29,934,000. Vestal Point Capital LP lifted its holdings in shares of Urogen Pharma by 32.1% in the 1st quarter. Vestal Point Capital LP now owns 2,152,957 shares of the company's stock worth $23,812,000 after buying an additional 522,957 shares during the period. Finally, Toronto Dominion Bank purchased a new stake in shares of Urogen Pharma in the 4th quarter worth $18,628,000. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

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.