Urogen Pharma (NASDAQ:URGN) Shares Gap Up - Time to Buy?

Key Points

• Urogen Pharma shares gapped up, opening at $21.40 from a $20.53 close and last trading around $20.97, while analysts hold a consensus Moderate Buy rating with an average target of $34.13.
• The company reported Q results with EPS of $(0.54) beating estimates of $(0.66) but revenue of $37.84M missed the $39.92M forecast, and analysts project a fiscal-year EPS of about -3.12.
• Insiders sold shares in early February (insiders still own 4.7%), and institutional ownership is very high at 91.29%, driven by several large new stakes and sizable stake increases.

Urogen Pharma (NASDAQ:URGN - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $20.53, but opened at $21.40. Urogen Pharma shares last traded at $20.9650, with a volume of 93,817 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Urogen Pharma in a report on Wednesday, January 21st. D. Boral Capital reiterated a "buy" rating and issued a $33.00 price target on shares of Urogen Pharma in a report on Tuesday, March 31st. Jefferies Financial Group assumed coverage on Urogen Pharma in a report on Friday. They issued a "buy" rating and a $40.00 price target for the company. Finally, Oppenheimer reiterated an "outperform" rating on shares of Urogen Pharma in a report on Monday, March 2nd. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.13.

Urogen Pharma Stock Performance

The stock has a market capitalization of $1.02 billion, a P/E ratio of -6.56 and a beta of 1.43. The stock has a 50 day moving average of $19.59 and a 200 day moving average of $20.75.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($0.54) EPS for the quarter, topping analysts' consensus estimates of ($0.66) by $0.12. The company had revenue of $37.84 million for the quarter, compared to the consensus estimate of $39.92 million. On average, research analysts anticipate that Urogen Pharma will post -3.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Urogen Pharma news, General Counsel Jason Drew Smith sold 7,479 shares of the business's stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $19.69, for a total transaction of $147,261.51. Following the completion of the transaction, the general counsel owned 51,326 shares in the company, valued at approximately $1,010,608.94. The trade was a 12.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Schoenberg sold 7,373 shares of the business's stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $19.69, for a total value of $145,174.37. Following the transaction, the insider owned 144,985 shares of the company's stock, valued at $2,854,754.65. This trade represents a 4.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in URGN. Paradigm Biocapital Advisors LP acquired a new stake in shares of Urogen Pharma in the third quarter valued at $84,111,000. Soleus Capital Management L.P. acquired a new stake in shares of Urogen Pharma in the second quarter valued at $29,934,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Urogen Pharma in the fourth quarter valued at $26,350,000. MPM Bioimpact LLC lifted its holdings in shares of Urogen Pharma by 597.3% in the fourth quarter. MPM Bioimpact LLC now owns 941,378 shares of the company's stock valued at $22,047,000 after buying an additional 806,378 shares during the period. Finally, TCG Crossover Management LLC acquired a new stake in shares of Urogen Pharma in the third quarter valued at $14,311,000. 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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