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

Urogen Pharma (NASDAQ:URGN) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $41.92 and last traded at $41.12, with a volume of 550404 shares traded. The stock had previously closed at $40.23.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $44.00 price target on shares of Urogen Pharma in a research note on Wednesday, July 15th. UBS Group reiterated a “buy” rating on shares of Urogen Pharma in a report on Thursday, July 9th. Guggenheim increased their target price on shares of Urogen Pharma from $32.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday. LADENBURG THALM/SH SH initiated coverage on shares of Urogen Pharma in a report on Monday, May 11th. They set a “buy” rating and a $43.00 price target for the company. Finally, Jefferies Financial Group upgraded shares of Urogen Pharma to a “strong-buy” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Urogen Pharma presently has an average rating of “Moderate Buy” and an average target price of $41.62.

Urogen Pharma Trading Down 3.9%

The stock has a market capitalization of $2.05 billion, a P/E ratio of -15.29 and a beta of 1.56. The company has a 50-day moving average price of $33.36 and a two-hundred day moving average price of $25.41.

Urogen Pharma (NASDAQ:URGN) last announced its earnings results on Thursday, May 7th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.01. The business had revenue of $50.96 million for the quarter, compared to the consensus estimate of $44.83 million. Research analysts forecast that Urogen Pharma will post -0.86 earnings per share for the current year.

Insider Activity

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 stock was sold at an average price of $40.00, for a total transaction of $400,000.00. Following the transaction, the insider directly owned 119,763 shares in the company, valued at approximately $4,790,520. This represents a 7.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 25,222 shares of company stock worth $892,661. 4.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of URGN. AQR Capital Management LLC raised its holdings in shares of Urogen Pharma by 347.5% during the first quarter. AQR Capital Management LLC now owns 114,066 shares of the company’s stock valued at $1,262,000 after purchasing an additional 88,577 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Urogen Pharma by 7.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,320 shares of the company’s stock valued at $258,000 after buying an additional 1,653 shares in the last quarter. Jane Street Group LLC increased its position in Urogen Pharma by 94.3% in the 1st quarter. Jane Street Group LLC now owns 51,177 shares of the company’s stock valued at $566,000 after buying an additional 24,839 shares in the last quarter. Cetera Investment Advisers acquired a new position in Urogen Pharma during the 2nd quarter worth approximately $361,000. Finally, JPMorgan Chase & Co. raised its stake in Urogen Pharma by 5.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 390,364 shares of the company’s stock worth $5,348,000 after buying an additional 19,405 shares during the period. 91.29% of the stock is owned by 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.