Urogen Pharma (NASDAQ:URGN) Shares Up 10.6% - Time to Buy?

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.

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. D. Boral Capital reissued a "buy" rating and issued a $25.00 price target on shares of Urogen Pharma in a research note on Tuesday, August 5th. Piper Sandler began coverage on Urogen Pharma in a research note on Monday, August 18th. They issued an "overweight" rating and a $36.00 price target on the stock. Wall Street Zen raised shares of Urogen Pharma from a "sell" rating to a "hold" rating in a research note on Saturday. The Goldman Sachs Group set a $16.00 target price on shares of Urogen Pharma and gave the stock a "neutral" rating in a report on Friday, June 13th. Finally, Scotiabank reissued an "outperform" rating on shares of Urogen Pharma in a research report on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Urogen Pharma has a consensus rating of "Buy" and an average target price of $32.00.

Urogen Pharma Price Performance

The business's 50-day moving average price is $18.19 and its two-hundred day moving average price is $12.88. The company has a market capitalization of $869.23 million, a P/E ratio of -5.66 and a beta of 1.10.

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

Insider Buying and Selling at Urogen Pharma

In related news, insider Mark Schoenberg sold 10,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $17.69, for a total value of $176,900.00. Following the sale, the insider directly owned 148,229 shares of the company's stock, valued at approximately $2,622,171.01. The trade was a 6.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Jason Drew Smith sold 1,520 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $19.11, for a total transaction of $29,047.20. Following the completion of the sale, the general counsel directly owned 43,305 shares in the company, valued at $827,558.55. This represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,062 shares of company stock worth $465,115 over the last ninety days. 4.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Urogen Pharma

Several institutional investors have recently added to or reduced their stakes in URGN. The Manufacturers Life Insurance Company lifted its position in Urogen Pharma by 178.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 37,486 shares of the company's stock valued at $399,000 after acquiring an additional 24,006 shares in the last quarter. Northern Trust Corp increased its stake in Urogen Pharma by 8.1% in the 4th quarter. Northern Trust Corp now owns 310,074 shares of the company's stock valued at $3,302,000 after buying an additional 23,345 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Urogen Pharma by 9.3% in the 4th quarter. Ameriprise Financial Inc. now owns 49,153 shares of the company's stock valued at $523,000 after buying an additional 4,188 shares during the last quarter. Bank of America Corp DE increased its stake in Urogen Pharma by 9.0% in the 4th quarter. Bank of America Corp DE now owns 72,472 shares of the company's stock valued at $772,000 after buying an additional 5,983 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Urogen Pharma by 61.6% in the 4th quarter. Deutsche Bank AG now owns 31,263 shares of the company's stock valued at $333,000 after buying an additional 11,916 shares during the last quarter. 91.29% of the stock is owned by institutional investors.

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.