Urogen Pharma (NASDAQ:URGN) Stock Price Up 9.1% – Still a Buy?

Urogen Pharma (NASDAQ:URGN)’s stock price rose 9.1% during mid-day trading on Wednesday . The company traded as high as $43.99 and last traded at $43.56. Approximately 193,743 shares changed hands during trading, a decline of 75% from the average daily volume of 779,405 shares. The stock had previously closed at $39.92.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Urogen Pharma in a research report on Friday, July 17th. UBS Group reissued a “buy” rating on shares of Urogen Pharma in a report on Thursday, July 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $44.00 price objective on shares of Urogen Pharma in a report on Wednesday, July 15th. Oppenheimer lifted their target price on Urogen Pharma from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Finally, HC Wainwright reissued a “buy” rating on shares of Urogen Pharma in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Urogen Pharma has a consensus rating of “Moderate Buy” and an average price target of $41.62.

Urogen Pharma Trading Up 19.0%

The stock has a market capitalization of $2.31 billion, a P/E ratio of -17.10 and a beta of 1.57. The business has a 50-day moving average price of $35.39 and a two-hundred day moving average price of $26.61.

Urogen Pharma (NASDAQ:URGN) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The company had revenue of $72.46 million during the quarter, compared to analyst estimates of $63.55 million. On average, sell-side analysts forecast that Urogen Pharma will post -0.76 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Mark Schoenberg sold 10,000 shares of Urogen Pharma 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 of the company’s stock, valued at $4,790,520. This trade represents a 7.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 25,222 shares of company stock worth $892,661. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Urogen Pharma

Several hedge funds and other institutional investors have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. lifted its position in shares of Urogen Pharma by 50.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 276,696 shares of the company’s stock worth $10,182,000 after buying an additional 93,192 shares during the last quarter. Glenmede Trust Co. NA bought a new position in Urogen Pharma in the first quarter valued at about $189,000. Janus Henderson Group PLC bought a new position in Urogen Pharma in the first quarter valued at about $343,000. Ally Bridge Group NY LLC acquired a new position in Urogen Pharma during the first quarter worth about $3,634,000. Finally, ADAR1 Capital Management LLC lifted its holdings in shares of Urogen Pharma by 139.1% in the first quarter. ADAR1 Capital Management LLC now owns 395,459 shares of the company’s stock worth $7,110,000 after acquiring an additional 230,084 shares during the last quarter. Institutional investors own 91.29% of the company’s stock.

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.