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 traded down 14.4% during trading on Thursday following a dissappointing earnings announcement. The company traded as low as $18.59 and last traded at $17.12. 366,073 shares changed hands during mid-day 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 for the quarter, missing the consensus estimate of ($0.85) by ($0.20). Urogen Pharma had a negative return on equity of 97,487.15% and a negative net margin of 150.68%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on URGN shares. Scotiabank reissued an "outperform" rating on shares of Urogen Pharma in a report on Friday, June 13th. D. Boral Capital reiterated a "buy" rating and set a $25.00 target price on shares of Urogen Pharma in a research report on Tuesday. The Goldman Sachs Group set a $16.00 price objective on Urogen Pharma and gave the company a "neutral" rating in a research report on Friday, June 13th. Guggenheim reiterated a "buy" rating and issued a $30.00 target price (up from $15.00) on shares of Urogen Pharma in a research report on Friday, June 13th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $50.00 target price on shares of Urogen Pharma in a research note on Tuesday, July 8th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $32.86.

Insider Activity

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

Institutional Investors Weigh In On Urogen Pharma

A number of institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC raised its position in Urogen Pharma by 6,047.1% in the 1st quarter. CWM LLC now owns 5,225 shares of the company's stock valued at $58,000 after purchasing an additional 5,140 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Urogen Pharma in the 4th quarter valued at approximately $59,000. Lazard Asset Management LLC purchased a new position in shares of Urogen Pharma in the 4th quarter valued at approximately $67,000. GAMMA Investing LLC grew its stake in shares of Urogen Pharma by 6,908.4% in the 1st quarter. GAMMA Investing LLC now owns 7,499 shares of the company's stock valued at $83,000 after purchasing an additional 7,392 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Urogen Pharma in the 4th quarter valued at approximately $101,000. Institutional investors and hedge funds own 91.29% of the company's stock.

Urogen Pharma Stock Performance

The firm has a fifty day moving average price of $13.17 and a 200 day moving average price of $11.17. The firm has a market capitalization of $838.58 million, a price-to-earnings ratio of -5.65 and a beta of 1.12.

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.

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