Urogen Pharma (NASDAQ:URGN) Trading Down 13.5% – What’s Next?

Urogen Pharma (NASDAQ:URGN)’s share price dropped 13.5% on Monday . The stock traded as low as $19.28 and last traded at $18.7680. Approximately 310,779 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 705,688 shares. The stock had previously closed at $21.70.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. D. Boral Capital reaffirmed a “buy” rating and set a $33.00 target price on shares of Urogen Pharma in a report on Monday. Oppenheimer reiterated an “outperform” rating on shares of Urogen Pharma in a research report on Monday. Wall Street Zen raised Urogen Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Urogen Pharma in a report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.29.

Urogen Pharma Stock Performance

The company has a 50 day moving average of $21.10 and a 200 day moving average of $20.87. The firm has a market cap of $963.35 million, a P/E ratio of -6.45 and a beta of 1.34.

Urogen Pharma (NASDAQ:URGN) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.12. The business had revenue of $37.84 million for the quarter, compared to the consensus estimate of $39.92 million. As a group, analysts expect that Urogen Pharma will post -3.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Urogen Pharma news, General Counsel Jason Drew Smith sold 7,479 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $19.69, for a total transaction of $147,261.51. Following the transaction, the general counsel directly owned 51,326 shares of the company’s stock, valued at $1,010,608.94. This represents a 12.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark Schoenberg sold 7,373 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $19.69, for a total value of $145,174.37. Following the sale, the insider owned 144,985 shares of the company’s stock, valued at approximately $2,854,754.65. This trade represents a 4.84% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Urogen Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its stake in shares of Urogen Pharma by 491.2% in the second quarter. Osaic Holdings Inc. now owns 3,695 shares of the company’s stock worth $50,000 after buying an additional 3,070 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Urogen Pharma by 27.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,275 shares of the company’s stock worth $53,000 after acquiring an additional 486 shares during the period. State of Wyoming acquired a new position in Urogen Pharma during the 3rd quarter worth $66,000. Russell Investments Group Ltd. boosted its holdings in Urogen Pharma by 1,594.4% during the third quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company’s stock valued at $66,000 after acquiring an additional 3,125 shares during the period. Finally, Strs Ohio bought a new stake in Urogen Pharma during the third quarter valued at about $76,000. Institutional investors and hedge funds 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.