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 $40.40 during the session and closing near $39.19, reflecting strong recent momentum in the stock.
• Analyst sentiment remains mostly positive, with multiple firms maintaining buy or outperform ratings and a consensus price target of about $39.50.
• The company recently beat quarterly expectations on both EPS and revenue, while institutional ownership remains high at 91.29% despite some insider selling.

Urogen Pharma (NASDAQ:URGN - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $40.40 and last traded at $39.19, with a volume of 556070 shares traded. The stock had previously closed at $39.51.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. UBS Group reissued a "buy" rating on shares of Urogen Pharma in a research note on Thursday, July 9th. Oppenheimer reaffirmed an "outperform" rating on shares of Urogen Pharma in a research note on Tuesday, June 2nd. LADENBURG THALM/SH SH assumed coverage on shares of Urogen Pharma in a report on Monday, May 11th. They set a "buy" rating and a $43.00 target price on the stock. HC Wainwright reissued a "buy" rating on shares of Urogen Pharma in a research report on Thursday, July 9th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Urogen Pharma in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $39.50.

Urogen Pharma Price Performance

The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -14.25 and a beta of 1.56. The stock has a 50 day simple moving average of $31.90 and a two-hundred day simple moving average of $24.66.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.47) EPS for the quarter, beating analysts' consensus estimates of ($0.48) by $0.01. The business had revenue of $50.96 million during the quarter, compared to analysts' expectations of $44.83 million. Equities research analysts predict that Urogen Pharma will post -0.88 EPS for the current year.

Insiders Place Their Bets

In other Urogen Pharma news, insider Mark Schoenberg sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. Following the sale, the insider owned 119,763 shares of the company's stock, valued at approximately $4,790,520. This trade represents a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,222 shares of company stock worth $892,661 over the last 90 days. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in shares of Urogen Pharma by 36.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 534,545 shares of the company's stock valued at $10,664,000 after purchasing an additional 144,181 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in Urogen Pharma by 148.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 161,924 shares of the company's stock worth $3,792,000 after buying an additional 96,741 shares during the period. SG Americas Securities LLC increased its position in Urogen Pharma by 19.0% during the fourth quarter. SG Americas Securities LLC now owns 1,377,647 shares of the company's stock worth $32,264,000 after buying an additional 220,264 shares during the period. Elmind Capital LP purchased a new stake in Urogen Pharma in the fourth quarter valued at approximately $2,342,000. Finally, Rice Hall James & Associates LLC lifted its stake in Urogen Pharma by 8.8% in the fourth quarter. Rice Hall James & Associates LLC now owns 281,876 shares of the company's stock valued at $6,602,000 after buying an additional 22,733 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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