Urogen Pharma (NASDAQ:URGN) Stock Price Up 9% – Time to Buy?

Urogen Pharma (NASDAQ:URGN)’s stock price traded up 9% during mid-day trading on Monday . The stock traded as high as $24.57 and last traded at $24.56. 862,772 shares traded hands during trading, an increase of 11% from the average session volume of 774,403 shares. The stock had previously closed at $22.54.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Urogen Pharma in a report on Friday, April 10th. They set a “buy” rating and a $40.00 price target for the company. Oppenheimer reiterated an “outperform” rating on shares of Urogen Pharma in a report on Monday, March 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Urogen Pharma in a report on Monday. Finally, D. Boral Capital reiterated a “buy” rating and set a $33.00 price target on shares of Urogen Pharma in a report on Tuesday, March 31st. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.13.

Urogen Pharma Price Performance

The firm’s fifty day moving average price is $19.85 and its 200-day moving average price is $21.03. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -8.14 and a beta of 1.43.

Urogen Pharma (NASDAQ:URGN) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.12. The company had revenue of $37.84 million during the quarter, compared to analyst estimates of $39.92 million. On average, research analysts predict that Urogen Pharma will post -1.24 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Jason Drew Smith sold 7,479 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $19.69, for a total value of $147,261.51. Following the completion of the sale, the general counsel directly owned 51,326 shares in the company, valued at $1,010,608.94. This represents a 12.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Schoenberg sold 7,373 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 value of $145,174.37. Following the completion of the sale, the insider owned 144,985 shares of the company’s stock, valued at $2,854,754.65. The trade was a 4.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.70% of the company’s stock.

Institutional Trading of Urogen Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of URGN. Osaic Holdings Inc. increased its holdings in Urogen Pharma by 491.2% in the second quarter. Osaic Holdings Inc. now owns 3,695 shares of the company’s stock valued at $50,000 after purchasing an additional 3,070 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Urogen Pharma by 27.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,275 shares of the company’s stock valued at $53,000 after acquiring an additional 486 shares during the last quarter. State of Wyoming bought a new stake in Urogen Pharma during the third quarter valued at $66,000. Russell Investments Group Ltd. boosted its position 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 last quarter. Finally, Strs Ohio bought a new stake in Urogen Pharma during the third quarter valued at $76,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

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.