Urogen Pharma (NASDAQ:URGN) Shares Down 6.5% – What’s Next?

Urogen Pharma (NASDAQ:URGN) traded down 6.5% during mid-day trading on Monday . The company traded as low as $21.05 and last traded at $21.2230. 166,949 shares changed hands during trading, a decline of 32% from the average session volume of 246,588 shares. The stock had previously closed at $22.71.

Analyst Upgrades and Downgrades

URGN has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Urogen Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Urogen Pharma in a research note on Wednesday, October 8th. D. Boral Capital reaffirmed a “buy” rating and issued a $33.00 price target on shares of Urogen Pharma in a research note on Monday. Finally, HC Wainwright reiterated a “buy” rating and issued a $40.00 target price on shares of Urogen Pharma in a research report on Monday, October 27th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Urogen Pharma Price Performance

The business’s 50 day simple moving average is $23.52 and its 200 day simple moving average is $19.59. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -6.39 and a beta of 1.29.

Urogen Pharma (NASDAQ:URGN) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.03. The firm had revenue of $27.48 million during the quarter, compared to analyst estimates of $34.09 million. As a group, analysts expect that Urogen Pharma will post -3.12 EPS for the current fiscal year.

Insider Buying and Selling at Urogen Pharma

In other news, CFO Chris Degnan sold 2,203 shares of Urogen Pharma stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $16.85, for a total transaction of $37,120.55. Following the sale, the chief financial officer directly owned 2,280 shares of the company’s stock, valued at approximately $38,418. The trade was a 49.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Schoenberg sold 10,000 shares of Urogen Pharma stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $25.00, for a total transaction of $250,000.00. Following the completion of the sale, the insider owned 139,025 shares in the company, valued at approximately $3,475,625. This represents a 6.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Allianz Asset Management GmbH bought a new position in shares of Urogen Pharma in the second quarter worth about $203,000. Walleye Capital LLC bought a new position in Urogen Pharma during the second quarter worth about $4,742,000. Bender Robert & Associates acquired a new position in Urogen Pharma during the second quarter worth approximately $475,000. Squarepoint Ops LLC raised its stake in Urogen Pharma by 187.8% in the second quarter. Squarepoint Ops LLC now owns 94,309 shares of the company’s stock valued at $1,292,000 after buying an additional 61,545 shares during the period. Finally, Truist Financial Corp bought a new position in shares of Urogen Pharma during the 2nd quarter worth approximately $423,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.

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.