Urogen Pharma (NASDAQ:URGN) Hits New 1-Year High – What’s Next?

Urogen Pharma (NASDAQ:URGN) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $47.84 and last traded at $46.43, with a volume of 2480596 shares. The stock had previously closed at $39.92.

Analysts Set New Price Targets

URGN has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Urogen Pharma in a research report on Friday, July 17th. LADENBURG THALM/SH SH began coverage on shares of Urogen Pharma in a report on Monday, May 11th. They issued a “buy” rating and a $43.00 price objective for the company. Jefferies Financial Group raised Urogen Pharma to a “strong-buy” rating in a research report on Friday, April 24th. The Goldman Sachs Group reiterated a “neutral” rating and set a $44.00 target price on shares of Urogen Pharma in a research note on Wednesday, July 15th. Finally, Guggenheim lifted their target price on Urogen Pharma from $32.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Urogen Pharma currently has an average rating of “Moderate Buy” and an average target price of $43.67.

Urogen Pharma Trading Up 16.3%

The company’s 50 day simple moving average is $35.73 and its 200-day simple moving average is $26.80. The firm has a market cap of $2.26 billion, a P/E ratio of -16.88 and a beta of 1.57.

Urogen Pharma (NASDAQ:URGN) last announced its quarterly 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 analysts’ expectations of $63.55 million. On average, sell-side analysts anticipate that Urogen Pharma will post -0.76 earnings per share for the current year.

Insider Transactions at Urogen Pharma

In related news, insider Mark Schoenberg sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $40.00, for a total value of $400,000.00. Following the sale, the insider owned 119,763 shares in the company, valued at approximately $4,790,520. This trade represents a 7.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,222 shares of company stock valued at $892,661 in the last 90 days. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Urogen Pharma

Several hedge funds and other institutional investors have recently modified their holdings of URGN. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Urogen Pharma by 50.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 276,696 shares of the company’s stock worth $10,182,000 after buying an additional 93,192 shares during the last quarter. Glenmede Trust Co. NA purchased a new stake in Urogen Pharma during the first quarter valued at $189,000. Janus Henderson Group PLC purchased a new stake in Urogen Pharma during the first quarter valued at $343,000. Ally Bridge Group NY LLC bought a new position in Urogen Pharma in the first quarter valued at about $3,634,000. Finally, ADAR1 Capital Management LLC lifted its holdings in Urogen Pharma by 139.1% in the first quarter. ADAR1 Capital Management LLC now owns 395,459 shares of the company’s stock valued at $7,110,000 after acquiring an additional 230,084 shares during the period. 91.29% of the stock is owned by 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.