Urogen Pharma (NASDAQ:URGN) Receives $52.38 Average PT from Brokerages

Urogen Pharma (NASDAQ:URGN) has been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $52.3750.

A number of research analysts have recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating and issued a $56.00 price target on shares of Urogen Pharma in a research note on Thursday, September 10th. Guggenheim upped their price objective on Urogen Pharma from $42.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, August 6th. TD Cowen upped their price objective on Urogen Pharma from $50.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. HC Wainwright increased their target price on Urogen Pharma from $45.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Urogen Pharma in a report on Friday, July 17th.

Urogen Pharma Price Performance

Shares of NASDAQ:URGN opened at $43.25 on Thursday. Urogen Pharma has a one year low of $15.86 and a one year high of $50.81. The company has a 50 day moving average of $43.79 and a 200-day moving average of $32.30. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -21.84 and a beta of 1.57.

Urogen Pharma (NASDAQ:URGN) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The business had revenue of $72.46 million for the quarter, compared to analysts’ expectations of $63.55 million. Equities research analysts anticipate that Urogen Pharma will post -0.2 earnings per share for the current year.

Insider Transactions at Urogen Pharma

In related news, insider Mark Schoenberg sold 871 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $42.92, for a total value of $37,383.32. Following the sale, the insider directly owned 59,882 shares in the company, valued at $2,570,135.44. This trade represents a 1.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Jason Smith sold 1,519 shares of Urogen Pharma stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $42.54, for a total transaction of $64,618.26. Following the transaction, the general counsel directly owned 53,141 shares in the company, valued at $2,260,618.14. The trade was a 2.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 83,067 shares of company stock valued at $3,706,954. 4.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Urogen Pharma

Hedge funds have recently bought and sold shares of the company. Persistent Asset Partners Ltd acquired a new position in shares of Urogen Pharma in the 2nd quarter valued at $66,000. Quantbot Technologies LP bought a new stake in shares of Urogen Pharma in the 2nd quarter valued at $78,000. ProShare Advisors LLC acquired a new stake in Urogen Pharma during the 4th quarter worth $206,000. Glenmede Trust Co. NA acquired a new stake in Urogen Pharma during the 1st quarter worth $189,000. Finally, The Manufacturers Life Insurance Company bought a new position in Urogen Pharma during the second quarter worth about $412,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

About Urogen Pharma

UroGen Pharma Ltd. is a biopharmaceutical company focused on developing and commercializing therapies for cancers of the urinary tract. The company uses its proprietary RTGel reverse-thermal hydrogel technology to provide sustained delivery of medicines directly to affected tissues.

UroGen’s primary commercial product is JELMYTO (mitomycin), a gel-based formulation approved in the United States for the treatment of adults with low-grade upper tract urothelial cancer. The company’s pipeline has also included UGN-102, an investigational formulation of mitomycin being developed for patients with low-grade, intermediate-risk non-muscle-invasive bladder cancer.

Founded in 2004, UroGen is headquartered in Princeton, New Jersey, and primarily serves the U.S.