Urogen Pharma (NASDAQ:URGN) Trading Down 4.5% - What's Next?

Key Points

• Shares fell 4.5% intraday to as low as $20.45, with about 185,438 shares traded—roughly a 76% drop from the stock's average daily volume.
• Analyst backdrop is largely positive: the consensus is a "Moderate Buy" (7 Buys, 1 Hold, 1 Sell) with an average price target of $34.13 and recent targets up to $40.
• In the latest quarter UroGen reported EPS of -$0.54, beating estimates by $0.12 while revenue of $37.84M missed forecasts; insiders have been selling (reducing positions) and institutional investors own roughly 91.3% of the stock.

Shares of Urogen Pharma (NASDAQ:URGN - Get Free Report) were down 4.5% during mid-day trading on Monday . The stock traded as low as $20.45 and last traded at $20.5890. Approximately 185,438 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 766,805 shares. The stock had previously closed at $21.57.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on URGN shares. D. Boral Capital reissued a "buy" rating and issued a $33.00 price objective on shares of Urogen Pharma in a report on Tuesday, March 31st. Jefferies Financial Group started coverage on Urogen Pharma in a report on Friday. They issued a "buy" rating and a $40.00 price objective for the company. Oppenheimer reissued an "outperform" rating on shares of Urogen Pharma in a report on Monday, March 2nd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Urogen Pharma in a report on Wednesday, January 21st. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.13.

Urogen Pharma Trading Down 6.2%

The company has a market cap of $984.80 million, a price-to-earnings ratio of -6.30 and a beta of 1.43. The business has a fifty day moving average of $19.63 and a two-hundred day moving average of $20.82.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last released its quarterly earnings results on Monday, March 2nd. The company reported ($0.54) earnings per share for the quarter, topping analysts' consensus estimates of ($0.66) by $0.12. The business had revenue of $37.84 million during the quarter, compared to analyst estimates of $39.92 million. On average, research analysts forecast that Urogen Pharma will post -3.12 EPS for the current fiscal year.

Insider Transactions at Urogen Pharma

In related news, General Counsel Jason Drew Smith sold 7,479 shares of the company's stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $19.69, for a total value of $147,261.51. Following the completion of the transaction, the general counsel owned 51,326 shares of the company's stock, valued at approximately $1,010,608.94. This represents a 12.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Schoenberg sold 7,373 shares of the company's stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $19.69, for a total value of $145,174.37. Following the completion of the transaction, the insider directly owned 144,985 shares of the company's stock, valued at $2,854,754.65. The trade was a 4.84% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 4.70% of the company's stock.

Institutional Investors Weigh In On Urogen Pharma

Several large investors have recently bought and sold shares of the company. Paradigm Biocapital Advisors LP increased its stake in Urogen Pharma by 6.1% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,473,648 shares of the company's stock worth $104,773,000 after buying an additional 257,564 shares in the last quarter. Morgan Stanley increased its stake in Urogen Pharma by 1.4% during the 4th quarter. Morgan Stanley now owns 2,562,901 shares of the company's stock worth $60,023,000 after buying an additional 34,455 shares in the last quarter. Soleus Capital Management L.P. purchased a new stake in Urogen Pharma during the 2nd quarter worth approximately $29,934,000. SG Americas Securities LLC increased its stake in Urogen Pharma by 19.0% during the 4th quarter. SG Americas Securities LLC now owns 1,377,647 shares of the company's stock worth $32,264,000 after buying an additional 220,264 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Urogen Pharma during the 4th quarter worth approximately $26,350,000. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

About Urogen Pharma

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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