Urogen Pharma (NASDAQ:URGN) Posts Earnings Results, Misses Estimates By $0.23 EPS

Key Points

• Urogen Pharma reported an earnings per share (EPS) of ($1.05), missing analysts' expectations by $0.20 EPS, although the company generated revenue of $24.22 million, exceeding expectations of $23.06 million.
• The stock price of Urogen Pharma declined by 4.5% to $17.75 following the earnings report, with a market capitalization of approximately $820.05 million.
• Several institutional investors have increased their holdings in Urogen Pharma, with AQR Capital Management boosting their stake by 347.5% in the first quarter.

Urogen Pharma (NASDAQ:URGN - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.23), Zacks reports. The company had revenue of $24.22 million during the quarter, compared to the consensus estimate of $23.06 million. Urogen Pharma had a negative return on equity of 97,487.15% and a negative net margin of 164.44%.

Urogen Pharma Stock Performance

Shares of NASDAQ:URGN opened at $17.75 on Friday. The business has a 50-day simple moving average of $14.05 and a two-hundred day simple moving average of $11.35. Urogen Pharma has a fifty-two week low of $3.42 and a fifty-two week high of $21.01. The firm has a market cap of $820.07 million, a price-to-earnings ratio of -5.35 and a beta of 1.12.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on URGN. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Urogen Pharma in a research note on Tuesday, July 8th. Scotiabank reaffirmed an "outperform" rating on shares of Urogen Pharma in a research note on Friday, June 13th. Oppenheimer set a $31.00 price objective on shares of Urogen Pharma and gave the company a "buy" rating in a research note on Friday, June 13th. The Goldman Sachs Group set a $16.00 price target on shares of Urogen Pharma and gave the stock a "neutral" rating in a report on Friday, June 13th. Finally, D. Boral Capital reissued a "buy" rating and issued a $25.00 price target on shares of Urogen Pharma in a report on Tuesday, August 5th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Urogen Pharma has a consensus rating of "Buy" and a consensus target price of $32.86.

Insider Buying and Selling

In other news, insider Mark Schoenberg sold 5,149 shares of Urogen Pharma stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $19.14, for a total value of $98,551.86. Following the completion of the sale, the insider directly owned 158,229 shares in the company, valued at $3,028,503.06. The trade was a 3.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Jason Drew Smith sold 7,522 shares of Urogen Pharma stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $19.14, for a total transaction of $143,971.08. Following the completion of the sale, the general counsel owned 41,492 shares of the company's stock, valued at $794,156.88. This represents a 15.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,833 shares of company stock valued at $280,567 over the last quarter. Company insiders own 4.70% of the company's stock.

Hedge Funds Weigh In On Urogen Pharma

A number of hedge funds have recently modified their holdings of the company. Cetera Investment Advisers bought a new position in shares of Urogen Pharma in the second quarter worth approximately $361,000. Jane Street Group LLC boosted its position in shares of Urogen Pharma by 94.3% in the first quarter. Jane Street Group LLC now owns 51,177 shares of the company's stock worth $566,000 after purchasing an additional 24,839 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Urogen Pharma by 7.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,320 shares of the company's stock worth $258,000 after purchasing an additional 1,653 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Urogen Pharma by 347.5% in the first quarter. AQR Capital Management LLC now owns 114,066 shares of the company's stock worth $1,262,000 after purchasing an additional 88,577 shares during the period. 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.