Urogen Pharma (NASDAQ:URGN) Stock Price Up 9.1% - Here's Why

Key Points

• Urogen Pharma shares rose 9.1% to $43.56 in mid-day trading, extending gains as the stock traded well above its 50-day and 200-day moving averages.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $41.62; Guggenheim recently raised its target to $42 and Jefferies upgraded the stock to “strong buy.”
• The company reported quarterly revenue of $72.46 million, above estimates of $63.55 million, but its adjusted loss of $0.28 per share missed expectations by $0.02. Insiders have sold shares recently, while institutional investors own 91.29% of the stock.

Urogen Pharma (NASDAQ:URGN - Get Free Report)'s share price was up 9.1% during mid-day trading on Wednesday . The company traded as high as $43.99 and last traded at $43.56. Approximately 193,743 shares were traded during mid-day trading, a decline of 75% from the average session volume of 779,405 shares. The stock had previously closed at $39.92.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Guggenheim upped their price target on Urogen Pharma from $32.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. UBS Group reiterated a "buy" rating on shares of Urogen Pharma in a report on Thursday, July 9th. LADENBURG THALM/SH SH started coverage on shares of Urogen Pharma in a research report on Monday, May 11th. They issued a "buy" rating and a $43.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Urogen Pharma in a report on Friday, July 17th. Finally, Jefferies Financial Group raised shares of Urogen Pharma to a "strong-buy" rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $41.62.

Urogen Pharma Trading Up 19.0%

The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -17.10 and a beta of 1.57. The firm's 50 day moving average price is $35.39 and its two-hundred day moving average price is $26.61.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The company had revenue of $72.46 million for the quarter, compared to analyst estimates of $63.55 million. As a group, equities research analysts predict that Urogen Pharma will post -0.76 EPS for the current year.

Insider Activity at Urogen Pharma

In related news, insider Mark Schoenberg sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $40.00, for a total transaction of $400,000.00. Following the transaction, the insider directly owned 119,763 shares of the company's stock, valued at approximately $4,790,520. The trade was a 7.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 25,222 shares of company stock worth $892,661. Insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Urogen Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. raised its position in shares of Urogen Pharma by 491.2% in the second quarter. Osaic Holdings Inc. now owns 3,695 shares of the company's stock valued at $50,000 after purchasing an additional 3,070 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Urogen Pharma by 27.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,275 shares of the company's stock worth $53,000 after buying an additional 486 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Urogen Pharma by 1,594.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company's stock worth $66,000 after buying an additional 3,125 shares during the period. Tower Research Capital LLC TRC grew its stake in Urogen Pharma by 422.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the company's stock valued at $94,000 after buying an additional 5,571 shares during the last quarter. Finally, Nebula Research & Development LLC acquired a new position in Urogen Pharma in the 2nd quarter valued at about $162,000. 91.29% of the stock is owned by 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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