UroGen Pharma (NASDAQ:URGN) Shares Gap Up Following Analyst Upgrade

Shares of UroGen Pharma Ltd. (NASDAQ:URGN - Get Free Report) gapped up before the market opened on Friday after Scotiabank raised their price target on the stock from $23.00 to $47.00. The stock had previously closed at $11.08, but opened at $11.96. Scotiabank currently has a sector outperform rating on the stock. UroGen Pharma shares last traded at $11.80, with a volume of 5,429,496 shares traded.

Several other research firms have also recently weighed in on URGN. Guggenheim increased their price objective on UroGen Pharma from $15.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday. D. Boral Capital reissued a "buy" rating and set a $25.00 target price on shares of UroGen Pharma in a report on Thursday. Oppenheimer reduced their target price on UroGen Pharma from $36.00 to $10.00 and set an "outperform" rating on the stock in a report on Tuesday, June 3rd. HC Wainwright lowered UroGen Pharma from a "buy" rating to a "neutral" rating in a report on Thursday, May 22nd. Finally, LADENBURG THALM/SH SH initiated coverage on UroGen Pharma in a report on Wednesday, February 19th. They set a "buy" rating and a $31.00 target price on the stock. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, UroGen Pharma currently has an average rating of "Moderate Buy" and an average target price of $28.71.

Insider Activity at UroGen Pharma

In related news, insider Mark Schoenberg sold 5,162 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $7.37, for a total value of $38,043.94. Following the sale, the insider now directly owns 153,378 shares of the company's stock, valued at $1,130,395.86. This trade represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.10% of the stock is currently owned by insiders.

Institutional Trading of UroGen Pharma

Several large investors have recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new stake in shares of UroGen Pharma during the fourth quarter valued at about $1,472,000. Lazard Asset Management LLC acquired a new stake in shares of UroGen Pharma during the fourth quarter valued at about $67,000. Janus Henderson Group PLC acquired a new stake in shares of UroGen Pharma during the fourth quarter valued at about $149,000. ProShare Advisors LLC acquired a new stake in shares of UroGen Pharma during the fourth quarter valued at about $137,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of UroGen Pharma by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 93,997 shares of the company's stock valued at $1,001,000 after purchasing an additional 6,430 shares in the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

UroGen Pharma Stock Up 8.6%

The stock has a 50 day moving average price of $8.49 and a 200 day moving average price of $10.07. The stock has a market capitalization of $554.67 million, a price-to-earnings ratio of -3.82 and a beta of 0.40. The company has a quick ratio of 8.77, a current ratio of 9.00 and a debt-to-equity ratio of 4.77.

UroGen Pharma (NASDAQ:URGN - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.92) EPS for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.09). The firm had revenue of $20.25 million during the quarter, compared to analysts' expectations of $22.71 million. As a group, analysts forecast that UroGen Pharma Ltd. will post -3.12 EPS for the current year.

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.