Urogen Pharma (NASDAQ:URGN) Sets New 1-Year High – Here’s Why

Shares of Urogen Pharma (NASDAQ:URGN) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $40.40 and last traded at $39.19, with a volume of 556070 shares trading hands. The stock had previously closed at $39.51.

Analyst Ratings Changes

A number of analysts have commented on URGN shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $44.00 target price on shares of Urogen Pharma in a report on Wednesday. Jefferies Financial Group raised Urogen Pharma to a “strong-buy” rating in a report on Friday, April 24th. Oppenheimer increased their price objective on Urogen Pharma from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday. HC Wainwright reiterated a “buy” rating on shares of Urogen Pharma in a report on Thursday, July 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Urogen Pharma in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Urogen Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $41.57.

Urogen Pharma Trading Up 0.5%

The firm has a market capitalization of $1.95 billion, a P/E ratio of -14.55 and a beta of 1.56. The stock has a 50 day simple moving average of $32.44 and a 200-day simple moving average of $24.89.

Urogen Pharma (NASDAQ:URGN) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.01. The business had revenue of $50.96 million during the quarter, compared to the consensus estimate of $44.83 million. As a group, sell-side analysts expect that Urogen Pharma will post -0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Urogen Pharma news, insider Mark Schoenberg sold 10,000 shares of the 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 transaction, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 25,222 shares of company stock valued at $892,661 in the last 90 days. 4.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Urogen Pharma

Several hedge funds and other institutional investors have recently modified their holdings of URGN. Osaic Holdings Inc. raised its holdings in Urogen Pharma by 491.2% in the 2nd quarter. Osaic Holdings Inc. now owns 3,695 shares of the company’s stock worth $50,000 after purchasing an additional 3,070 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Urogen Pharma by 27.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,275 shares of the company’s stock worth $53,000 after buying an additional 486 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Urogen Pharma by 1,594.4% in the third quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company’s stock worth $66,000 after buying an additional 3,125 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Urogen Pharma by 422.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the company’s stock worth $94,000 after buying an additional 5,571 shares during the period. Finally, Nebula Research & Development LLC bought a new position in shares of Urogen Pharma in the second quarter worth about $162,000. 91.29% of the stock is currently owned by hedge funds and other 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.