Urogen Pharma (NASDAQ:URGN) Stock Price Expected to Rise, Oppenheimer Analyst Says

Key Points

• Oppenheimer raised its target on Urogen Pharma from $34 to $40 and kept an "outperform" rating, implying roughly a 52.38% upside from the prior close.
• Analysts' consensus is a Moderate Buy with a $35.25 average target, based on 1 Strong Buy, 6 Buy, 1 Hold and 1 Sell ratings.
• Urogen slightly beat last quarter's estimates (EPS -$0.47 vs. -$0.48; revenue $50.96M vs. $44.83M), the stock trades near $26.25 with a 52-week range of $3.42–$30.00, and about 91.29% of shares are held by institutions including large new stakes (e.g., Paradigm Biocapital ~ $84.1M).

Urogen Pharma (NASDAQ:URGN - Get Free Report) had its target price lifted by investment analysts at Oppenheimer from $34.00 to $40.00 in a report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's price target indicates a potential upside of 52.38% from the company's previous close.

Several other equities research analysts have also commented on URGN. Jefferies Financial Group upgraded Urogen Pharma to a "strong-buy" rating in a research report on Friday, April 24th. D. Boral Capital reiterated a "buy" rating and issued a $33.00 target price on shares of Urogen Pharma in a research note on Tuesday, March 31st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Urogen Pharma in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $35.25.

Urogen Pharma Stock Performance

NASDAQ URGN opened at $26.25 on Thursday. The firm has a market capitalization of $1.28 billion, a P/E ratio of -8.20 and a beta of 1.58. The stock has a 50-day simple moving average of $20.48 and a two-hundred day simple moving average of $21.50. Urogen Pharma has a fifty-two week low of $3.42 and a fifty-two week high of $30.00.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.01. The company had revenue of $50.96 million for the quarter, compared to analyst estimates of $44.83 million. As a group, analysts forecast that Urogen Pharma will post -1.45 earnings per share for the current year.

Institutional Trading of Urogen Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in URGN. Paradigm Biocapital Advisors LP purchased a new position in shares of Urogen Pharma during the 3rd quarter valued at approximately $84,111,000. Soleus Capital Management L.P. purchased a new position in Urogen Pharma during the second quarter valued at $29,934,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Urogen Pharma during the fourth quarter worth about $26,350,000. MPM Bioimpact LLC lifted its stake in Urogen Pharma by 597.3% in the 4th quarter. MPM Bioimpact LLC now owns 941,378 shares of the company's stock valued at $22,047,000 after buying an additional 806,378 shares in the last quarter. Finally, TCG Crossover Management LLC acquired a new stake in Urogen Pharma in the 3rd quarter worth about $14,311,000. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Urogen Pharma Company Profile

UroGen Pharma is a clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for uro-oncology and uro-genital diseases. Founded in 2010 and headquartered in Ra'anana, Israel, with offices in New York, UroGen applies its proprietary RTGel® reverse thermal gel delivery platform to create sustained-release formulations designed for in-office use by urologists.

The company's lead product, Jelmyto® (mitomycin gel), received U.S. Food and Drug Administration approval in 2020 for the treatment of adults with low-grade upper tract urothelial cancer.

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