Wall Street Zen Downgrades Urogen Pharma (NASDAQ:URGN) to Sell

Key Points

• Urogen Pharma has been downgraded by Wall Street Zen from a "hold" to a "sell" rating amidst several other conflicting analyst reports.
• The company reported a quarterly loss of ($1.05) earnings per share, missing estimates by ($0.23), while revenues were slightly above expectations at $24.22 million.
• Insider trading activity shows a notable decrease in ownership, with CEO Mark Schoenberg selling 10,000 shares, representing a 6.32% decrease in his holdings.

Urogen Pharma (NASDAQ:URGN - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

URGN has been the topic of a number of other research reports. HC Wainwright cut their target price on shares of Urogen Pharma from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Piper Sandler initiated coverage on shares of Urogen Pharma in a research report on Monday, August 18th. They issued an "overweight" rating and a $36.00 target price on the stock. D. Boral Capital restated a "buy" rating and issued a $25.00 target price on shares of Urogen Pharma in a research report on Friday, October 3rd. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Urogen Pharma in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $32.00.

Urogen Pharma Trading Up 0.1%

NASDAQ URGN opened at $16.95 on Friday. The firm has a market capitalization of $784.11 million, a price-to-earnings ratio of -5.11 and a beta of 1.00. The firm's 50 day simple moving average is $18.53 and its 200 day simple moving average is $14.04. Urogen Pharma has a 1 year low of $3.42 and a 1 year high of $21.71.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($1.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.23). Urogen Pharma had a negative net margin of 164.44% and a negative return on equity of 97,487.15%. The company had revenue of $24.22 million during the quarter, compared to analyst estimates of $23.06 million. On average, equities research analysts forecast that Urogen Pharma will post -3.12 earnings per share for the current year.

Insider Activity

In other news, insider Mark Schoenberg sold 10,000 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $17.69, for a total transaction of $176,900.00. Following the completion of the transaction, the insider owned 148,229 shares of the company's stock, valued at approximately $2,622,171.01. This trade represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Chris Degnan sold 2,203 shares of the firm's stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $16.85, for a total transaction of $37,120.55. Following the transaction, the chief financial officer directly owned 2,280 shares of the company's stock, valued at $38,418. The trade was a 49.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,265 shares of company stock valued at $502,236. Insiders own 4.70% of the company's stock.

Hedge Funds Weigh In On Urogen Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC lifted its holdings in Urogen Pharma by 18.0% in the third quarter. CWM LLC now owns 4,271 shares of the company's stock valued at $85,000 after buying an additional 650 shares during the period. Voya Investment Management LLC lifted its holdings in Urogen Pharma by 38.6% in the third quarter. Voya Investment Management LLC now owns 83,611 shares of the company's stock valued at $1,668,000 after buying an additional 23,297 shares during the period. Osaic Holdings Inc. lifted its holdings in 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 buying an additional 3,070 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Urogen Pharma by 9.4% in the second quarter. China Universal Asset Management Co. Ltd. now owns 9,261 shares of the company's stock valued at $127,000 after buying an additional 797 shares during the period. Finally, Squarepoint Ops LLC lifted its holdings in Urogen Pharma by 187.8% in the second quarter. Squarepoint Ops LLC now owns 94,309 shares of the company's stock valued at $1,292,000 after buying an additional 61,545 shares during the period. Institutional investors and hedge funds own 91.29% of the company's stock.

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.

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