Urogen Pharma (NASDAQ:URGN) Shares Up 10.6% - What's Next?

Key Points

• Urogen Pharma's stock surged 10.6% to $20.88, despite a 12% decline in trading volume compared to its average.
• Analysts have a consensus rating of "Buy" for Urogen Pharma, with a target price averaging $32.00, while Guggenheim raised its price target to $30.00.
• Urogen Pharma reported quarterly earnings of ($1.05) per share, missing estimates, but revenue exceeded expectations at $24.22 million.

Urogen Pharma (NASDAQ:URGN - Get Free Report) traded up 10.6% on Monday . The stock traded as high as $20.46 and last traded at $20.88. 1,345,138 shares changed hands during trading, a decline of 12% from the average session volume of 1,525,113 shares. The stock had previously closed at $18.88.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Scotiabank reissued an "outperform" rating on shares of Urogen Pharma in a research report on Friday, June 13th. Guggenheim reaffirmed a "buy" rating and issued a $30.00 price target (up previously from $15.00) on shares of Urogen Pharma in a report on Friday, June 13th. Piper Sandler assumed coverage on Urogen Pharma in a research note on Monday, August 18th. They issued an "overweight" rating and a $36.00 price objective on the stock. HC Wainwright lowered their price objective on Urogen Pharma from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Finally, Oppenheimer set a $31.00 price objective on Urogen Pharma and gave the company a "buy" rating in a research note on Friday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $32.00.

Urogen Pharma Stock Performance

The stock has a market capitalization of $990.89 million, a P/E ratio of -6.45 and a beta of 1.10. The stock has a 50-day simple moving average of $17.54 and a 200 day simple moving average of $12.54.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($1.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.23). The company had revenue of $24.22 million during the quarter, compared to analyst estimates of $23.06 million. Urogen Pharma had a negative net margin of 164.44% and a negative return on equity of 97,487.15%. Equities analysts predict that Urogen Pharma will post -3.12 earnings per share for the current year.

Insider Activity

In other Urogen Pharma news, insider Mark Schoenberg sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $17.69, for a total transaction of $176,900.00. Following the completion of the sale, the insider directly owned 148,229 shares in the company, valued at $2,622,171.01. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Jason Drew Smith sold 7,522 shares of the firm's 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 sale, the general counsel owned 41,492 shares of the company's stock, valued at $794,156.88. This trade represents a 15.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,671 shares of company stock valued at $419,423 over the last ninety days. 4.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. increased its holdings in Urogen Pharma by 491.2% in the second quarter. Osaic Holdings Inc. now owns 3,695 shares of the company's stock valued at $50,000 after purchasing an additional 3,070 shares during the period. CWM LLC increased its holdings in Urogen Pharma by 6,047.1% in the first quarter. CWM LLC now owns 5,225 shares of the company's stock valued at $58,000 after purchasing an additional 5,140 shares during the period. Lazard Asset Management LLC acquired a new stake in Urogen Pharma in the fourth quarter valued at $67,000. Tower Research Capital LLC TRC increased its holdings in Urogen Pharma by 422.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the company's stock valued at $94,000 after purchasing an additional 5,571 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Urogen Pharma by 6,908.4% during the 1st quarter. GAMMA Investing LLC now owns 7,499 shares of the company's stock worth $83,000 after acquiring an additional 7,392 shares during the period. 91.29% of the stock is currently owned by institutional investors and hedge funds.

About Urogen Pharma

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.

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