Urogen Pharma (NASDAQ:URGN) Reaches New 52-Week High – What’s Next?

Urogen Pharma (NASDAQ:URGN) hit a new 52-week high on Thursday . The stock traded as high as $39.77 and last traded at $39.74, with a volume of 272480 shares changing hands. The stock had previously closed at $38.03.

Wall Street Analysts Forecast Growth

URGN has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating on shares of Urogen Pharma in a report on Thursday. UBS Group reissued a “buy” rating on shares of Urogen Pharma in a research note on Thursday. Oppenheimer restated an “outperform” rating on shares of Urogen Pharma in a research report on Tuesday, June 2nd. Jefferies Financial Group raised Urogen Pharma to a “strong-buy” rating in a research note on Friday, April 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Urogen Pharma in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Urogen Pharma has an average rating of “Moderate Buy” and a consensus price target of $39.50.

Urogen Pharma Stock Up 4.8%

The company’s fifty day simple moving average is $30.66 and its two-hundred day simple moving average is $24.21. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -14.50 and a beta of 1.56.

Urogen Pharma (NASDAQ:URGN) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.01. The firm had revenue of $50.96 million during the quarter, compared to analyst estimates of $44.83 million. Equities research analysts expect that Urogen Pharma will post -0.88 earnings per share for the current year.

Insiders Place Their Bets

In other Urogen Pharma news, insider Mark Schoenberg sold 10,000 shares of Urogen Pharma stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $35.01, for a total transaction of $350,100.00. Following the transaction, the insider directly owned 129,763 shares in the company, valued at approximately $4,543,002.63. The trade was a 7.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Urogen Pharma

Several large investors have recently modified their holdings of the business. Paradigm Biocapital Advisors LP bought a new position in Urogen Pharma in the third quarter valued at approximately $84,111,000. Soleus Capital Management L.P. acquired a new stake in shares of Urogen Pharma during the second quarter worth $29,934,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Urogen Pharma during the fourth quarter worth $26,350,000. MPM Bioimpact LLC lifted its position in Urogen Pharma by 597.3% in the 4th quarter. MPM Bioimpact LLC now owns 941,378 shares of the company’s stock valued at $22,047,000 after acquiring an additional 806,378 shares in the last quarter. Finally, TCG Crossover Management LLC acquired a new position in Urogen Pharma in the 3rd quarter worth $14,311,000. 91.29% of the stock is currently 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.