Urogen Pharma (NASDAQ:URGN) Stock Price Up 6.4% – Still a Buy?

Shares of Urogen Pharma (NASDAQ:URGN) rose 6.4% on Tuesday . The company traded as high as $24.01 and last traded at $24.3090. Approximately 99,594 shares were traded during trading, a decline of 93% from the average daily volume of 1,414,908 shares. The stock had previously closed at $22.85.

Analysts Set New Price Targets

URGN has been the subject of several research analyst reports. Piper Sandler started coverage on shares of Urogen Pharma in a research report on Monday, August 18th. They set an “overweight” rating and a $36.00 price target for the company. D. Boral Capital restated a “buy” rating and issued a $25.00 price objective on shares of Urogen Pharma in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Urogen Pharma in a research note on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of Urogen Pharma in a research report on Monday, October 27th. Finally, Wall Street Zen upgraded Urogen Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Seven research 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Urogen Pharma Trading Up 6.3%

The stock has a 50 day simple moving average of $21.88 and a 200-day simple moving average of $18.14. The firm has a market cap of $1.14 billion, a PE ratio of -6.94 and a beta of 1.21.

Urogen Pharma (NASDAQ:URGN) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.03. Urogen Pharma had a negative return on equity of 97,487.15% and a negative net margin of 170.59%.The firm had revenue of $27.48 million during the quarter, compared to analyst estimates of $34.09 million. On average, equities research analysts expect that Urogen Pharma will post -3.12 EPS for the current year.

Insider Activity

In related news, CFO Chris Degnan sold 2,203 shares of the company’s stock in a transaction that occurred 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. This represents a 49.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Schoenberg sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the sale, the insider owned 139,025 shares of the company’s stock, valued at approximately $3,475,625. This represents a 6.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.70% 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 added to or reduced their stakes in URGN. Jacobs Levy Equity Management Inc. bought a new position in shares of Urogen Pharma in the third quarter worth about $426,000. TCG Crossover Management LLC bought a new stake in shares of Urogen Pharma during the 3rd quarter worth approximately $14,311,000. XTX Topco Ltd acquired a new position in shares of Urogen Pharma in the third quarter valued at approximately $585,000. Voloridge Investment Management LLC acquired a new position in shares of Urogen Pharma in the 3rd quarter valued at approximately $13,715,000. Finally, Verition Fund Management LLC bought a new position in Urogen Pharma in the third quarter valued at about $1,776,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

About Urogen Pharma

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.