Urogen Pharma (NASDAQ:URGN) Trading 9.8% Higher - Here's What Happened

Urogen Pharma (NASDAQ:URGN - Get Free Report) shares were up 9.8% during trading on Tuesday . The stock traded as high as $16.83 and last traded at $16.97. Approximately 1,263,069 shares changed hands during mid-day trading, an increase of 13% from the average daily volume of 1,112,892 shares. The stock had previously closed at $15.46.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on URGN shares. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 target price on shares of Urogen Pharma in a report on Tuesday, July 8th. Scotiabank reaffirmed an "outperform" rating on shares of Urogen Pharma in a report on Friday, June 13th. Guggenheim reiterated a "buy" rating and set a $30.00 target price (up from $15.00) on shares of Urogen Pharma in a research report on Friday, June 13th. Oppenheimer set a $31.00 price target on Urogen Pharma and gave the company a "buy" rating in a research report on Friday, June 13th. Finally, D. Boral Capital reiterated a "buy" rating and issued a $25.00 price objective on shares of Urogen Pharma in a research report on Monday, July 7th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Urogen Pharma currently has an average rating of "Buy" and a consensus price target of $32.86.

Urogen Pharma Stock Up 5.3%

The firm has a market cap of $875.49 million, a price-to-earnings ratio of -5.96 and a beta of 1.02. The stock's 50 day moving average is $11.17 and its 200 day moving average is $10.72.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.92) EPS for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.09). The company had revenue of $20.25 million for the quarter, compared to analyst estimates of $22.71 million. Urogen Pharma had a negative net margin of 150.68% and a negative return on equity of 97,487.15%. Analysts anticipate that Urogen Pharma will post -3.12 earnings per share for the current fiscal year.

Insider Activity

In other Urogen Pharma news, insider Mark Schoenberg sold 5,162 shares of Urogen Pharma stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $7.37, for a total transaction of $38,043.94. Following the transaction, the insider owned 153,378 shares of the company's stock, valued at $1,130,395.86. The trade was a 3.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Urogen Pharma

Several large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Urogen Pharma by 4.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,667 shares of the company's stock worth $231,000 after buying an additional 969 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Urogen Pharma by 0.8% in the 1st quarter. Wellington Management Group LLP now owns 148,078 shares of the company's stock worth $1,638,000 after purchasing an additional 1,125 shares during the last quarter. Rhumbline Advisers boosted its position in Urogen Pharma by 4.3% during the first quarter. Rhumbline Advisers now owns 53,466 shares of the company's stock worth $591,000 after purchasing an additional 2,196 shares during the period. MetLife Investment Management LLC boosted its position in Urogen Pharma by 13.6% during the fourth quarter. MetLife Investment Management LLC now owns 22,766 shares of the company's stock worth $242,000 after purchasing an additional 2,727 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Urogen Pharma by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 93,517 shares of the company's stock valued at $996,000 after purchasing an additional 3,024 shares during the last quarter. Institutional investors own 91.29% of the company's stock.

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.