Urogen Pharma (NASDAQ:URGN) Reaches New 12-Month High - Here's What Happened

Key Points

• UroGen Pharma shares hit a new 52-week high on Tuesday, climbing as high as $41.92 and last trading around $41.12, up about 2.2% on the day.
• Recent Wall Street sentiment is generally positive, with a consensus rating of “Moderate Buy” and a consensus price target of $41.57, though Goldman Sachs still rates the stock neutral with a $44 target.
• The company recently beat quarterly expectations, reporting a smaller-than-expected loss and revenue of $50.96 million, while institutional ownership remains high at 91.29% despite some insider selling.

Urogen Pharma (NASDAQ:URGN - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $41.92 and last traded at $41.12, with a volume of 550404 shares traded. The stock had previously closed at $40.23.

Wall Street Analyst Weigh In

URGN has been the subject of several research reports. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $44.00 target price on shares of Urogen Pharma in a research note on Wednesday, July 15th. D. Boral Capital reiterated a "buy" rating and issued a $33.00 price target on shares of Urogen Pharma in a research report on Tuesday, March 31st. Jefferies Financial Group raised shares of Urogen Pharma to a "strong-buy" rating in a report on Friday, April 24th. HC Wainwright reaffirmed a "buy" rating on shares of Urogen Pharma in a research note on Thursday, July 9th. Finally, 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 target price on the stock. One investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.57.

Urogen Pharma Trading Up 2.2%

The firm has a market cap of $2.00 billion, a PE ratio of -14.95 and a beta of 1.56. The company's 50-day moving average is $32.85 and its 200 day moving average is $25.14.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.01. The firm had revenue of $50.96 million for the quarter, compared to analysts' expectations of $44.83 million. On average, research analysts predict that Urogen Pharma will post -0.86 EPS for the current fiscal year.

Insider Activity at Urogen Pharma

In other news, insider Mark Schoenberg sold 10,000 shares of Urogen Pharma stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $40.00, for a total transaction of $400,000.00. Following the transaction, the insider owned 119,763 shares in the company, valued at approximately $4,790,520. The trade was a 7.71% decrease in their ownership of the stock. The sale was disclosed in a filing 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 sold a total of 25,222 shares of company stock valued at $892,661 over the last ninety days. Company insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Paradigm Biocapital Advisors LP acquired a new position in Urogen Pharma in the 3rd quarter worth about $84,111,000. Soleus Capital Management L.P. acquired a new stake in shares of Urogen Pharma during the 2nd quarter valued at about $29,934,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Urogen Pharma in the 4th quarter valued at approximately $26,350,000. MPM Bioimpact LLC increased its stake in shares of Urogen Pharma by 597.3% during the 4th quarter. MPM Bioimpact LLC now owns 941,378 shares of the company's stock worth $22,047,000 after purchasing an additional 806,378 shares during the last quarter. Finally, TCG Crossover Management LLC acquired a new position in Urogen Pharma during the third quarter worth $14,311,000. 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.

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