Urogen Pharma (NASDAQ:URGN) Hits New 12-Month High – Here’s Why

Shares of Urogen Pharma (NASDAQ:URGN) hit a new 52-week high during trading on Monday . The stock traded as high as $36.20 and last traded at $36.1620, with a volume of 320424 shares traded. The stock had previously closed at $34.54.

Analyst Upgrades and Downgrades

URGN has been the subject of several research analyst reports. LADENBURG THALM/SH SH assumed coverage on Urogen Pharma in a report on Monday, May 11th. They issued a “buy” rating and a $43.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $45.00 target price on shares of Urogen Pharma in a research report on Wednesday, June 3rd. Jefferies Financial Group upgraded Urogen Pharma to a “strong-buy” rating in a report on Friday, April 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Urogen Pharma in a research report on Monday, April 20th. Finally, Oppenheimer restated an “outperform” rating on shares of Urogen Pharma in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.50.

Urogen Pharma Stock Up 4.7%

The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -13.17 and a beta of 1.59. The firm’s 50 day moving average is $28.50 and its two-hundred day moving average is $23.36.

Urogen Pharma (NASDAQ:URGN) last issued its earnings results on Thursday, May 7th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.01. The company had revenue of $50.96 million during the quarter, compared to analyst estimates of $44.83 million. On average, analysts anticipate that Urogen Pharma will post -0.98 EPS for the current fiscal year.

Insider Activity

In related news, insider Mark Schoenberg sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $35.01, for a total value of $350,100.00. Following the sale, the insider owned 129,763 shares of the company’s stock, valued at approximately $4,543,002.63. This trade represents a 7.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Urogen Pharma

Several large investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its stake 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 last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Urogen Pharma by 27.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,275 shares of the company’s stock worth $53,000 after acquiring an additional 486 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Urogen Pharma by 1,594.4% during the third quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company’s stock worth $66,000 after acquiring an additional 3,125 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Urogen Pharma by 422.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the company’s stock worth $94,000 after acquiring an additional 5,571 shares during the period. Finally, Nebula Research & Development LLC acquired a new stake in shares of Urogen Pharma in the 2nd quarter worth about $162,000. 91.29% of the stock is owned by institutional investors and hedge funds.

Urogen Pharma Company Profile

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.