Urogen Pharma (NASDAQ:URGN) Reaches New 1-Year High – Here’s What Happened

Urogen Pharma (NASDAQ:URGN) reached a new 52-week high on Wednesday . The stock traded as high as $49.98 and last traded at $49.5860, with a volume of 41402 shares trading hands. The stock had previously closed at $48.92.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on URGN shares. HC Wainwright lifted their price objective on Urogen Pharma from $45.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. LADENBURG THALM/SH SH initiated coverage on Urogen Pharma in a research report on Monday, May 11th. They set a “buy” rating and a $43.00 target price for the company. 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 report on Wednesday, August 5th. Jefferies Financial Group upgraded shares of Urogen Pharma to a “strong-buy” rating in a research report on Friday, April 24th. Finally, Guggenheim raised their price target on Urogen Pharma from $42.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.38.

Urogen Pharma Price Performance

The stock has a market capitalization of $2.47 billion, a P/E ratio of -25.45 and a beta of 1.57. The stock’s fifty day moving average price is $39.38 and its 200 day moving average price is $28.55.

Urogen Pharma (NASDAQ:URGN) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The business had revenue of $72.46 million for the quarter, compared to the consensus estimate of $63.55 million. On average, sell-side analysts expect that Urogen Pharma will post -0.2 earnings per share for the current year.

Insider Activity

In other news, insider Mark Schoenberg sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $40.00, for a total transaction of $400,000.00. Following the transaction, 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 filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 25,222 shares of company stock worth $892,661. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Urogen Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of URGN. Palo Alto Investors LP bought a new stake in Urogen Pharma during the 2nd quarter valued at $901,600,000. Coastal Bridge Advisors LLC purchased a new position in shares of Urogen Pharma in the 2nd quarter worth approximately $1,362,000. Jefferies Financial Group Inc. purchased a new position in shares of Urogen Pharma in the 2nd quarter worth approximately $80,947,000. Bank of America Corp DE bought a new position in shares of Urogen Pharma during the 2nd quarter worth approximately $17,506,000. Finally, Jupiter Topco LLC bought a new position in shares of Urogen Pharma during the 2nd quarter worth approximately $704,000. 91.29% of the stock is currently owned by institutional investors.

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.