Urogen Pharma (NASDAQ:URGN) Trading Up 14% on Better-Than-Expected Earnings

Key Points

• Shares of Urogen Pharma rose about 14% to $27.17 after better-than-expected quarterly results — a loss per share of ($0.47) versus a consensus of ($0.48) and revenue of $50.96 million vs. $44.83 million expected, with trading volume up ~119% to ~1.73M shares.
• Analysts are mostly positive, giving a consensus rating of “Moderate Buy” with a $34.13 average target (1 Strong Buy, 6 Buy, 1 Hold, 1 Sell) following recent upgrades and reissued outperform/buy notes.
• The company has a market capitalization of about $1.31 billion, a negative P/E, ~91% institutional ownership, and commercial focus in uro-oncology with FDA-approved product Jelmyto.

Shares of Urogen Pharma (NASDAQ:URGN - Get Free Report) were up 14% on Wednesday following a better than expected earnings announcement. The stock traded as high as $26.94 and last traded at $27.1690. Approximately 1,730,628 shares traded hands during trading, an increase of 119% from the average daily volume of 789,639 shares. The stock had previously closed at $23.83.

The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.01. The business had revenue of $50.96 million for the quarter, compared to the consensus estimate of $44.83 million.

Analysts Set New Price Targets

URGN has been the topic of a number of research reports. Jefferies Financial Group raised Urogen Pharma to a "strong-buy" rating in a research note on Friday, April 24th. Oppenheimer reissued an "outperform" rating on shares of Urogen Pharma in a research note on Monday, March 2nd. D. Boral Capital reissued a "buy" rating and issued a $33.00 price objective 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 research note on Monday, April 20th. One 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $34.13.

Hedge Funds Weigh In On Urogen Pharma

A number of hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Urogen Pharma by 27.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,275 shares of the company's stock worth $53,000 after acquiring an additional 486 shares during the last quarter. CWM LLC grew its holdings in shares of Urogen Pharma by 18.0% in the 3rd quarter. CWM LLC now owns 4,271 shares of the company's stock worth $85,000 after acquiring an additional 650 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Urogen Pharma by 7.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,320 shares of the company's stock worth $258,000 after acquiring an additional 1,653 shares during the last quarter. Main Street Financial Solutions LLC grew its holdings in shares of Urogen Pharma by 8.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 25,968 shares of the company's stock worth $356,000 after acquiring an additional 1,968 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Urogen Pharma by 3.8% in the 4th quarter. Barclays PLC now owns 57,744 shares of the company's stock worth $1,352,000 after acquiring an additional 2,125 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Urogen Pharma Trading Up 12.9%

The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -8.42 and a beta of 1.58. The stock has a fifty day moving average of $20.37 and a 200-day moving average of $21.44.

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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