Urogen Pharma (NASDAQ:URGN) Reaches New 52-Week High - What's Next?

Key Points

• Urogen Pharma hit a new 52-week high, trading as high as $39.77 and ending near that level after a 4.8% move higher. The stock’s rise came alongside trading volume of 272,480 shares.
• Analyst sentiment is generally positive, with one Strong Buy, six Buy ratings, and one Sell rating. MarketBeat shows a Moderate Buy consensus and an average price target of $39.50, close to the current share price.
• The company reported better-than-expected first-quarter results, posting a smaller-than-expected loss and higher-than-expected revenue. Insider Mark Schoenberg also sold 10,000 shares in a pre-arranged transaction, while institutional investors continue to hold the vast majority of the stock.

Urogen Pharma (NASDAQ:URGN - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $39.77 and last traded at $39.74, with a volume of 272480 shares changing hands. The stock had previously closed at $38.03.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on URGN shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Urogen Pharma in a report on Monday, April 20th. Jefferies Financial Group upgraded shares of Urogen Pharma to a "strong-buy" rating in a research report on Friday, April 24th. UBS Group reissued a "buy" rating on shares of Urogen Pharma in a report on Thursday. D. Boral Capital restated a "buy" rating and issued a $33.00 price target on shares of Urogen Pharma in a research report on Tuesday, March 31st. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Urogen Pharma in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Urogen Pharma presently has a consensus rating of "Moderate Buy" and an average target price of $39.50.

Urogen Pharma Trading Up 4.8%

The business's fifty day simple moving average is $30.66 and its 200 day simple moving average is $24.21. The stock has a market cap of $1.94 billion, a P/E ratio of -14.50 and a beta of 1.56.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, topping analysts' consensus estimates of ($0.48) by $0.01. The company had revenue of $50.96 million during the quarter, compared to the consensus estimate of $44.83 million. On average, analysts predict that Urogen Pharma will post -0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mark Schoenberg sold 10,000 shares of Urogen Pharma stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $35.01, for a total value of $350,100.00. Following the completion of the sale, the insider directly owned 129,763 shares of the company's stock, valued at approximately $4,543,002.63. This trade represents a 7.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Urogen Pharma

Large investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. increased its position in Urogen Pharma by 50.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 276,696 shares of the company's stock worth $10,182,000 after purchasing an additional 93,192 shares during the period. Glenmede Trust Co. NA acquired a new position in Urogen Pharma during the 1st quarter valued at about $189,000. Janus Henderson Group PLC acquired a new position in Urogen Pharma during the 1st quarter valued at about $343,000. Ally Bridge Group NY LLC bought a new position in shares of Urogen Pharma in the 1st quarter valued at about $3,634,000. Finally, ADAR1 Capital Management LLC boosted its stake in shares of Urogen Pharma by 139.1% in the 1st quarter. ADAR1 Capital Management LLC now owns 395,459 shares of the company's stock valued at $7,110,000 after purchasing an additional 230,084 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company's stock.

Urogen Pharma Company Profile

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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