Urogen Pharma (NASDAQ:URGN) Stock Price Down 14.4% Following Weak Earnings

Key Points

• Urogen Pharma shares fell by 14.4% to $17.12 following a disappointing earnings report, where the company reported earnings per share of ($1.05), missing estimates.
• Despite the recent stock decline, analysts maintain a generally positive outlook, with multiple firms issuing "buy" ratings and target prices ranging from $16 to $50.
• Institutional investors hold a significant stake in Urogen Pharma, owning approximately 91.29% of the company's stock, indicating strong institutional support.

Urogen Pharma (NASDAQ:URGN - Get Free Report) shares fell 14.4% on Thursday following a weaker than expected earnings announcement. The company traded as low as $18.59 and last traded at $17.12. 366,073 shares were traded during trading, a decline of 77% from the average session volume of 1,583,408 shares. The stock had previously closed at $20.01.

The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on URGN. Scotiabank reaffirmed an "outperform" rating on shares of Urogen Pharma in a research report on Friday, June 13th. The Goldman Sachs Group set a $16.00 price target on shares of Urogen Pharma and gave the company a "neutral" rating in a report on Friday, June 13th. Guggenheim restated a "buy" rating and issued a $30.00 target price (up previously from $15.00) on shares of Urogen Pharma in a research note on Friday, June 13th. Oppenheimer set a $31.00 target price on shares of Urogen Pharma and gave the company a "buy" rating in a research note on Friday, June 13th. Finally, HC Wainwright reduced their target price on shares of Urogen Pharma from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $31.43.

Insider Transactions at Urogen Pharma

In other news, insider Mark Schoenberg sold 5,149 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $19.14, for a total value of $98,551.86. Following the completion of the sale, the insider directly owned 158,229 shares of the company's stock, valued at $3,028,503.06. This represents a 3.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Jason Drew Smith sold 7,522 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $19.14, for a total value of $143,971.08. Following the sale, the general counsel directly owned 41,492 shares of the company's stock, valued at approximately $794,156.88. The trade was a 15.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,833 shares of company stock valued at $280,567. 4.70% of the stock is currently owned by company insiders.

Institutional Trading of Urogen Pharma

A number of large investors have recently bought and sold shares of URGN. CWM LLC increased its stake in Urogen Pharma by 6,047.1% during the 1st quarter. CWM LLC now owns 5,225 shares of the company's stock worth $58,000 after purchasing an additional 5,140 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Urogen Pharma during the 4th quarter worth approximately $67,000. GAMMA Investing LLC increased its stake 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 purchasing an additional 7,392 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in Urogen Pharma during the 4th quarter worth approximately $101,000. Finally, ProShare Advisors LLC bought a new position in shares of Urogen Pharma during the 4th quarter worth approximately $137,000. 91.29% of the stock is owned by institutional investors.

Urogen Pharma Trading Up 2.8%

The company has a market capitalization of $843.78 million, a P/E ratio of -5.49 and a beta of 1.12. The firm's 50 day moving average price is $14.05 and its two-hundred day moving average price is $11.35.

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.