Urogen Pharma (NASDAQ:URGN) Trading Up 10.3% - Here's What Happened

Shares of Urogen Pharma (NASDAQ:URGN - Get Free Report) rose 10.3% during mid-day trading on Wednesday . The stock traded as high as $14.28 and last traded at $14.61. Approximately 763,417 shares traded hands during trading, a decline of 26% from the average daily volume of 1,027,705 shares. The stock had previously closed at $13.24.

Analyst Upgrades and Downgrades

URGN has been the topic of several research reports. HC Wainwright raised Urogen Pharma from a "neutral" rating to a "buy" rating and set a $50.00 price objective on the stock in a report on Monday, June 16th. Guggenheim reaffirmed a "buy" rating and set a $30.00 price objective (up previously from $15.00) on shares of Urogen Pharma in a report on Friday, June 13th. Oppenheimer set a $31.00 price objective on Urogen Pharma and gave the stock a "buy" rating in a report on Friday, June 13th. D. Boral Capital reaffirmed a "buy" rating and set a $25.00 price objective on shares of Urogen Pharma in a report on Thursday, June 12th. Finally, The Goldman Sachs Group set a $16.00 price target on Urogen Pharma and gave the stock a "neutral" rating in a report on Friday, June 13th. One equities research 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, Urogen Pharma currently has an average rating of "Buy" and an average price target of $32.86.

Urogen Pharma Price Performance

The stock has a fifty day simple moving average of $8.99 and a two-hundred day simple moving average of $10.13. The company has a current ratio of 5.65, a quick ratio of 5.47 and a debt-to-equity ratio of 4.77. The company has a market cap of $675.51 million, a PE ratio of -4.61 and a beta of 0.40.

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

Insider Activity

In related news, insider Mark Schoenberg sold 5,162 shares of Urogen Pharma stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $7.37, for a total transaction of $38,043.94. Following the completion of the transaction, the insider now directly owns 153,378 shares in the company, valued at $1,130,395.86. The trade was a 3.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of URGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Urogen Pharma by 4.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,667 shares of the company's stock valued at $231,000 after acquiring an additional 969 shares during the last quarter. Wellington Management Group LLP raised 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 valued at $1,638,000 after acquiring an additional 1,125 shares during the last quarter. Rhumbline Advisers raised its holdings in Urogen Pharma by 2.8% in the 4th quarter. Rhumbline Advisers now owns 51,270 shares of the company's stock valued at $546,000 after acquiring an additional 1,402 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Urogen Pharma by 13.6% in the 4th quarter. MetLife Investment Management LLC now owns 22,766 shares of the company's stock valued at $242,000 after acquiring an additional 2,727 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Urogen Pharma by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 93,517 shares of the company's stock valued at $996,000 after acquiring an additional 3,024 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

About Urogen Pharma

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.