Urogen Pharma (NASDAQ:URGN) Trading 9.1% Higher – Here’s Why

by · The Markets Daily

Urogen Pharma (NASDAQ:URGNGet Free Report) traded up 9.1% on Wednesday . The stock 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on URGN shares. Guggenheim raised their price objective on shares of Urogen Pharma from $42.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday. HC Wainwright increased their target price on shares of Urogen Pharma from $45.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday. Oppenheimer raised their price target on shares of Urogen Pharma from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. TD Cowen boosted their price target on shares of Urogen Pharma from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Urogen Pharma in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.78.

Check Out Our Latest Analysis on Urogen Pharma

Urogen Pharma Price Performance

The company has a market cap of $2.28 billion, a price-to-earnings ratio of -23.65 and a beta of 1.57. The firm’s 50 day simple moving average is $36.07 and its 200-day simple moving average is $26.98.

Urogen Pharma (NASDAQ:URGNGet Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The firm had revenue of $72.46 million for the quarter, compared to analyst estimates of $63.55 million. On average, analysts forecast that Urogen Pharma will post -0.76 EPS for the current year.

Insider Buying and Selling at Urogen Pharma

In other Urogen Pharma news, insider Mark Schoenberg sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were 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 in the company, valued at approximately $4,790,520. This represents a 7.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 25,222 shares of company stock worth $892,661. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Urogen Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Persistent Asset Partners Ltd acquired a new stake in shares of Urogen Pharma during the 2nd quarter worth about $66,000. Bank of New York Mellon Corp acquired a new stake in Urogen Pharma during the second quarter worth approximately $4,159,000. Hennion & Walsh Asset Management Inc. boosted its position in Urogen Pharma by 50.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 276,696 shares of the company’s stock worth $10,182,000 after acquiring an additional 93,192 shares during the last quarter. Glenmede Trust Co. NA purchased a new stake in Urogen Pharma in the 1st quarter worth approximately $189,000. Finally, Janus Henderson Group PLC acquired a new position in Urogen Pharma in the 1st quarter valued at $343,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.

About Urogen Pharma

(Get Free Report)

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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