Urogen Pharma (NASDAQ:URGN) Announces Earnings Results

Urogen Pharma (NASDAQ:URGN) released its quarterly earnings results on Thursday. The company reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.03, Zacks reports. The firm had revenue of $27.48 million during the quarter, compared to analysts’ expectations of $34.09 million. Urogen Pharma had a negative return on equity of 97,487.15% and a negative net margin of 164.44%.

Urogen Pharma Trading Up 21.9%

URGN stock traded up $4.23 during trading on Thursday, hitting $23.54. The company had a trading volume of 4,246,248 shares, compared to its average volume of 1,455,561. The company has a fifty day moving average price of $18.52 and a two-hundred day moving average price of $14.93. The company has a market cap of $1.09 billion, a P/E ratio of -7.09 and a beta of 1.06. Urogen Pharma has a fifty-two week low of $3.42 and a fifty-two week high of $23.64.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on URGN. Wall Street Zen lowered Urogen Pharma from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. D. Boral Capital reaffirmed a “buy” rating and set a $25.00 target price on shares of Urogen Pharma in a report on Monday, October 27th. Piper Sandler began coverage on Urogen Pharma in a report on Monday, August 18th. They set an “overweight” rating and a $36.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Urogen Pharma in a research report on Wednesday, October 8th. Finally, HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Urogen Pharma in a research report on Monday, October 27th. 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Insider Buying and Selling at Urogen Pharma

In other Urogen Pharma news, General Counsel Jason Drew Smith sold 1,520 shares of Urogen Pharma stock in a transaction on Monday, September 8th. The stock was sold at an average price of $19.11, for a total value of $29,047.20. Following the completion of the transaction, the general counsel owned 43,305 shares in the company, valued at approximately $827,558.55. The trade was a 3.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Chris Degnan sold 2,203 shares of the business’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $16.85, for a total value of $37,120.55. Following the sale, the chief financial officer owned 2,280 shares of the company’s stock, valued at approximately $38,418. The trade was a 49.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 14,594 shares of company stock worth $259,713. 4.70% of the stock is currently owned by insiders.

Institutional Trading of Urogen Pharma

Hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its holdings in Urogen Pharma by 491.2% during the 2nd quarter. Osaic Holdings Inc. now owns 3,695 shares of the company’s stock worth $50,000 after purchasing an additional 3,070 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Urogen Pharma by 422.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the company’s stock worth $94,000 after buying an additional 5,571 shares in the last quarter. Nebula Research & Development LLC acquired a new position in shares of Urogen Pharma during the 2nd quarter worth $162,000. Man Group plc acquired a new position in shares of Urogen Pharma during the 2nd quarter worth $196,000. Finally, Marshall Wace LLP grew its position in Urogen Pharma by 79.7% during the 2nd quarter. Marshall Wace LLP now owns 20,660 shares of the company’s stock worth $283,000 after acquiring an additional 9,160 shares during the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Urogen Pharma Company Profile

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.