Brokerages Set Urogen Pharma (NASDAQ:URGN) Target Price at $50.38

Urogen Pharma (NASDAQ:URGN) has been given an average recommendation of “Moderate Buy” by the ten analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $50.3750.

URGN has been the topic of a number of research analyst reports. HC Wainwright raised their price objective on shares of Urogen Pharma from $45.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $44.00 price target on shares of Urogen Pharma in a research note on Wednesday, July 15th. TD Cowen raised their price objective on Urogen Pharma from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Oppenheimer lifted their target price on Urogen Pharma from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Finally, Guggenheim upped their target price on Urogen Pharma from $42.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, August 6th.

Insider Activity

In other news, insider Mark Schoenberg sold 60,677 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $47.05, for a total transaction of $2,854,852.85. Following the transaction, the insider directly owned 59,086 shares in the company, valued at approximately $2,779,996.30. This trade represents a 50.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 85,899 shares of company stock worth $3,747,513 in the last 90 days. Company insiders own 4.80% of the company’s stock.

Institutional Trading of Urogen Pharma

A number of large investors have recently bought and sold shares of URGN. California State Teachers Retirement System lifted its position in Urogen Pharma by 4,168.7% during the 2nd quarter. California State Teachers Retirement System now owns 1,654,123 shares of the company’s stock worth $60,872,000 after acquiring an additional 1,615,373 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Urogen Pharma by 15.1% during the second quarter. Wellington Management Group LLP now owns 115,362 shares of the company’s stock worth $4,245,000 after purchasing an additional 15,147 shares during the period. Palo Alto Investors LP purchased a new position in Urogen Pharma in the 2nd quarter valued at $901,600,000. Coastal Bridge Advisors LLC acquired a new position in Urogen Pharma in the 2nd quarter valued at $1,362,000. Finally, Jefferies Financial Group Inc. acquired a new position in Urogen Pharma in the 2nd quarter valued at $80,947,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

Urogen Pharma Stock Performance

Shares of Urogen Pharma stock opened at $46.36 on Friday. The business’s 50 day moving average price is $41.11 and its 200 day moving average price is $29.51. The company has a market cap of $2.27 billion, a price-to-earnings ratio of -23.41 and a beta of 1.57. Urogen Pharma has a one year low of $15.86 and a one year high of $50.81.

Urogen Pharma (NASDAQ:URGN) last posted its earnings results on Wednesday, August 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The business had revenue of $72.46 million for the quarter, compared to the consensus estimate of $63.55 million. On average, analysts predict that Urogen Pharma will post -0.2 EPS for the current fiscal year.

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.