Urogen Pharma (NASDAQ:URGN) Releases Quarterly Earnings Results, Misses Expectations 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) released its quarterly earnings data on Thursday, August 7th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.23), Zacks reports. The business had revenue of $24.22 million for 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 traded down $0.03 during trading on Thursday, reaching $20.08. The company had a trading volume of 953,432 shares, compared to its average volume of 1,404,549. Urogen Pharma has a 52 week low of $3.42 and a 52 week high of $21.01. The stock has a market cap of $928.90 million, a PE ratio of -6.05 and a beta of 1.12. The business's 50 day moving average price is $15.21 and its 200-day moving average price is $11.59.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. D. Boral Capital reaffirmed a "buy" rating and set a $25.00 price objective on shares of Urogen Pharma in a report on Tuesday, August 5th. Guggenheim reissued a "buy" rating and set a $30.00 price target (up from $15.00) on shares of Urogen Pharma in a report on Friday, June 13th. HC Wainwright cut their price target on shares of Urogen Pharma from $50.00 to $40.00 and set a "buy" rating for the company in a report on Monday. Oppenheimer set a $31.00 price target on shares of Urogen Pharma and gave the company a "buy" rating in a report on Friday, June 13th. Finally, The Goldman Sachs Group set a $16.00 price target on shares of Urogen Pharma and gave the company a "neutral" rating in a report on Friday, June 13th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $31.43.

Insider Transactions at Urogen Pharma

In other Urogen Pharma news, General Counsel Jason Drew Smith sold 7,522 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $19.14, for a total value of $143,971.08. Following the completion of the transaction, the general counsel directly owned 41,492 shares of the company's stock, valued at approximately $794,156.88. The trade was a 15.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Schoenberg sold 10,000 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $17.69, for a total transaction of $176,900.00. Following the completion of the transaction, the insider directly owned 148,229 shares of the company's stock, valued at approximately $2,622,171.01. This represents a 6.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,833 shares of company stock valued at $457,467. Insiders own 4.70% of the company's stock.

Institutional Investors Weigh In On Urogen Pharma

Institutional investors have recently modified their holdings of the business. Nebula Research & Development LLC acquired a new stake in shares of Urogen Pharma during the 2nd quarter worth approximately $162,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Urogen Pharma by 7.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,320 shares of the company's stock worth $258,000 after buying an additional 1,653 shares during the period. Marshall Wace LLP grew its position in shares of Urogen Pharma by 79.7% during the 2nd quarter. Marshall Wace LLP now owns 20,660 shares of the company's stock worth $283,000 after buying an additional 9,160 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of Urogen Pharma during the 2nd quarter worth approximately $289,000. Finally, Main Street Financial Solutions LLC grew its position in shares of Urogen Pharma by 8.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 25,968 shares of the company's stock worth $356,000 after buying an additional 1,968 shares during the period. Institutional investors and hedge funds own 91.29% of the company's stock.

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.