Urogen Pharma (NASDAQ:URGN) Hits New 12-Month High – Here’s Why

Urogen Pharma (NASDAQ:URGN)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $36.20 and last traded at $36.1620, with a volume of 320424 shares changing hands. The stock had previously closed at $34.54.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on URGN. Oppenheimer reaffirmed an “outperform” rating on shares of Urogen Pharma in a research note on Tuesday, June 2nd. Jefferies Financial Group upgraded Urogen Pharma to a “strong-buy” rating in a report on Friday, April 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Urogen Pharma in a research note on Monday, April 20th. D. Boral Capital restated a “buy” rating and issued a $33.00 price objective on shares of Urogen Pharma in a report on Tuesday, March 31st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Urogen Pharma in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.50.

Urogen Pharma Trading Up 4.7%

The stock has a market capitalization of $1.76 billion, a PE ratio of -13.17 and a beta of 1.59. The business’s 50-day moving average is $28.50 and its two-hundred day moving average is $23.36.

Urogen Pharma (NASDAQ:URGN) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.01. The company had revenue of $50.96 million for the quarter, compared to analyst estimates of $44.83 million. On average, analysts predict that Urogen Pharma will post -0.98 EPS for the current year.

Insiders Place Their Bets

In other news, insider Mark Schoenberg sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $35.01, for a total transaction of $350,100.00. Following the completion of the sale, the insider directly owned 129,763 shares in the company, valued at $4,543,002.63. This trade represents a 7.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in Urogen Pharma by 27.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,275 shares of the company’s stock worth $53,000 after purchasing an additional 486 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Urogen Pharma by 1,594.4% in 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 in the last quarter. Osaic Holdings Inc. boosted its stake in Urogen Pharma by 491.2% during the 2nd quarter. Osaic Holdings Inc. now owns 3,695 shares of the company’s stock valued at $50,000 after acquiring an additional 3,070 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Urogen Pharma by 422.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the company’s stock worth $94,000 after acquiring an additional 5,571 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new position in Urogen Pharma during the 4th quarter worth $206,000. 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.