Urogen Pharma (NASDAQ:URGN) Reaches New 1-Year High - Here's What Happened

Key Points

• Urogen Pharma's stock reached a new 52-week high of $19.36, with a current trading price of $18.90 and a high trading volume of 1,288,770 shares.
• Analyst ratings show a consensus of buy, with targets ranging from $16.00 to $50.00, and an average price target of $32.86.
• Despite positive analyst sentiment, the company reported negative earnings per share of ($0.92) for the last quarter, missing expectations and reflecting significant financial challenges.

Shares of Urogen Pharma (NASDAQ:URGN - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $19.36 and last traded at $18.90, with a volume of 1288770 shares trading hands. The stock had previously closed at $18.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. HC Wainwright reaffirmed a "buy" rating and set a $50.00 price target on shares of Urogen Pharma in a report on Tuesday, July 8th. D. Boral Capital reissued a "buy" rating and issued a $25.00 target price on shares of Urogen Pharma in a research note on Monday, July 7th. Guggenheim reissued a "buy" rating and issued a $30.00 target price (up from $15.00) on shares of Urogen Pharma in a research note on Friday, June 13th. Scotiabank reissued an "outperform" rating on shares of Urogen Pharma in a research note on Friday, June 13th. Finally, Oppenheimer set a $31.00 target price on Urogen Pharma and gave the company a "buy" rating in a research note on Friday, June 13th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Urogen Pharma presently has a consensus rating of "Buy" and an average price target of $32.86.

Urogen Pharma Price Performance

The business has a 50 day moving average of $12.21 and a 200 day moving average of $10.96. The firm has a market capitalization of $899.28 million, a price-to-earnings ratio of -6.12 and a beta of 1.02.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.92) EPS for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.09). Urogen Pharma had a negative return on equity of 97,487.15% and a negative net margin of 150.68%. The company had revenue of $20.25 million for the quarter, compared to analyst estimates of $22.71 million. As a group, equities analysts predict that Urogen Pharma will post -3.12 EPS for the current year.

Insiders Place Their Bets

In other Urogen Pharma news, insider Mark Schoenberg sold 5,149 shares of Urogen Pharma stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $19.14, for a total transaction of $98,551.86. Following the transaction, the insider directly owned 158,229 shares in the company, valued at approximately $3,028,503.06. The trade was a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Jason Drew Smith sold 7,522 shares of Urogen Pharma stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $19.14, for a total value of $143,971.08. Following the transaction, the general counsel owned 41,492 shares in the company, valued at approximately $794,156.88. This represents a 15.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,833 shares of company stock valued at $280,567. 5.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new position in Urogen Pharma during the fourth quarter worth about $1,472,000. Lazard Asset Management LLC bought a new position in Urogen Pharma during the fourth quarter worth about $67,000. Janus Henderson Group PLC bought a new position in Urogen Pharma during the fourth quarter worth about $149,000. ProShare Advisors LLC bought a new position in Urogen Pharma during the fourth quarter worth about $137,000. Finally, Rhumbline Advisers lifted its holdings in Urogen Pharma by 4.3% during the first quarter. Rhumbline Advisers now owns 53,466 shares of the company's stock worth $591,000 after acquiring an additional 2,196 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

Urogen Pharma Company Profile

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.