Urogen Pharma (NASDAQ:URGN) Rating Increased to Strong-Buy at Jefferies Financial Group

Key Points

• Jefferies Financial Group upgraded Urogen Pharma to a "strong‑buy"; MarketBeat shows one Strong Buy, six Buy, one Hold and one Sell, with an average analyst price target of $34.13 and an overall rating of "Moderate Buy".
• Shares opened at $24.11 (1‑year range $3.42–$30.00) with a $1.17B market cap; the company reported Q1 EPS of ($0.54) that beat estimates but missed revenue, and analysts expect roughly ‑1.45 EPS for the year, indicating continued losses.
• Company insiders sold notable blocks in February (including ~7,400 shares by the General Counsel and another insider), insiders now own 4.7% of shares while institutional investors hold about 91.3%.

Urogen Pharma (NASDAQ:URGN - Get Free Report) was upgraded by analysts at Jefferies Financial Group to a "strong-buy" rating in a report released on Friday,Zacks.com reports.

Several other analysts have also commented on URGN. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Urogen Pharma in a report on Monday. Oppenheimer reiterated an "outperform" rating on shares of Urogen Pharma in a research report on Monday, March 2nd. Finally, D. Boral Capital reiterated a "buy" rating and set a $33.00 price target on shares of Urogen Pharma in a research report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Urogen Pharma has an average rating of "Moderate Buy" and an average target price of $34.13.

Urogen Pharma Price Performance

Shares of URGN stock opened at $24.11 on Friday. Urogen Pharma has a 1-year low of $3.42 and a 1-year high of $30.00. The stock's 50-day moving average is $20.11 and its 200 day moving average is $21.13. The company has a market cap of $1.17 billion, a P/E ratio of -7.53 and a beta of 1.43.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.54) earnings per share for the quarter, beating analysts' consensus estimates of ($0.66) by $0.12. The firm had revenue of $37.84 million during the quarter, compared to analyst estimates of $39.92 million. On average, analysts anticipate that Urogen Pharma will post -1.45 EPS for the current year.

Insider Activity at Urogen Pharma

In other news, General Counsel Jason Drew Smith sold 7,479 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $19.69, for a total value of $147,261.51. Following the transaction, the general counsel owned 51,326 shares in the company, valued at $1,010,608.94. This trade represents a 12.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Schoenberg sold 7,373 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $19.69, for a total value of $145,174.37. Following the completion of the transaction, the insider owned 144,985 shares in the company, valued at approximately $2,854,754.65. This trade represents a 4.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.70% of the company's stock.

Hedge Funds Weigh In On Urogen Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Urogen Pharma by 27.2% in the fourth 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 in the last quarter. State of Wyoming purchased a new position in Urogen Pharma during the third quarter worth approximately $66,000. Russell Investments Group Ltd. increased its stake in Urogen Pharma by 1,594.4% during the third quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company's stock worth $66,000 after acquiring an additional 3,125 shares during the last quarter. Osaic Holdings Inc. increased its stake in Urogen Pharma by 491.2% during the second quarter. Osaic Holdings Inc. now owns 3,695 shares of the company's stock worth $50,000 after acquiring an additional 3,070 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Urogen Pharma during the third quarter worth $76,000. Hedge funds and other institutional investors 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.

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