Urogen Pharma (NASDAQ:URGN) Sets New 1-Year High Following Analyst Upgrade

Key Points

• 52-week high triggered after Oppenheimer raised its price target to $40 (from $34) and kept an outperform rating; shares traded as high as $30.45 and were last around $29.41.
• Analyst consensus is a Moderate Buy with a $35.25 average price target, comprised of 1 Strong Buy, 6 Buy, 1 Hold and 1 Sell, and several recent upgrades including Jefferies' "strong-buy".
• UroGen slightly beat quarterly estimates (EPS -$0.47 vs. -$0.48; revenue $50.96M vs. $44.83M), has a market cap of about $1.4B and is roughly 91% institutionally owned.

Urogen Pharma (NASDAQ:URGN - Get Free Report) shares hit a new 52-week high during trading on Friday after Oppenheimer raised their price target on the stock from $34.00 to $40.00. Oppenheimer currently has an outperform rating on the stock. Urogen Pharma traded as high as $30.45 and last traded at $29.4110, with a volume of 803454 shares traded. The stock had previously closed at $26.59.

Several other research firms have also commented on URGN. Jefferies Financial Group raised shares of Urogen Pharma to a "strong-buy" rating in a report on Friday, April 24th. D. Boral Capital reissued a "buy" rating and set a $33.00 price objective on shares of Urogen Pharma in a report on Tuesday, March 31st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Urogen Pharma in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.25.

Hedge Funds Weigh In On Urogen Pharma

A number of large investors have recently made changes to their positions in URGN. Osaic Holdings Inc. increased its position in shares of Urogen Pharma by 491.2% during the second quarter. Osaic Holdings Inc. now owns 3,695 shares of the company's stock valued at $50,000 after buying an additional 3,070 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Urogen Pharma by 27.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,275 shares of the company's stock worth $53,000 after purchasing an additional 486 shares during the period. State of Wyoming bought a new position in shares of Urogen Pharma in the third quarter worth $66,000. Russell Investments Group Ltd. raised its position in shares of Urogen Pharma by 1,594.4% in the third quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company's stock worth $66,000 after buying an additional 3,125 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Urogen Pharma in the third quarter worth $76,000. 91.29% of the stock is owned by institutional investors.

Urogen Pharma Price Performance

The company has a market cap of $1.40 billion, a P/E ratio of -10.57 and a beta of 1.58. The company has a 50 day moving average of $20.59 and a 200-day moving average of $21.57.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate 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. Research analysts anticipate that Urogen Pharma will post -1.45 EPS for the current year.

About Urogen Pharma

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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