Urogen Pharma (NASDAQ:URGN) Sets New 52-Week High – Here’s What Happened

Urogen Pharma (NASDAQ:URGN) reached a new 52-week high during trading on Tuesday . The company traded as high as $35.35 and last traded at $34.99, with a volume of 624535 shares traded. The stock had previously closed at $33.57.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Urogen Pharma in a report on Monday, April 20th. Jefferies Financial Group upgraded shares of Urogen Pharma to a “strong-buy” rating in a report on Friday, April 24th. LADENBURG THALM/SH SH assumed coverage on shares of Urogen Pharma in a research report on Monday, May 11th. They issued a “buy” rating and a $43.00 price objective for the company. Oppenheimer restated an “outperform” rating on shares of Urogen Pharma in a research note on Tuesday, June 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $45.00 target price on shares of Urogen Pharma in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.50.

Urogen Pharma Price Performance

The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -12.88 and a beta of 1.59. The business’s 50-day moving average price is $27.97 and its two-hundred day moving average price is $23.20.

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

Insider Buying and Selling at Urogen Pharma

In other news, insider Mark Schoenberg sold 10,000 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $35.01, for a total value of $350,100.00. Following the sale, the insider owned 129,763 shares in the company, valued at approximately $4,543,002.63. This represents a 7.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.80% of the company’s stock.

Institutional Trading of Urogen Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of URGN. Paradigm Biocapital Advisors LP grew its position in shares of Urogen Pharma by 6.1% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,473,648 shares of the company’s stock worth $104,773,000 after acquiring an additional 257,564 shares in the last quarter. Morgan Stanley raised its position in shares of Urogen Pharma by 1.4% during the 4th quarter. Morgan Stanley now owns 2,562,901 shares of the company’s stock valued at $60,023,000 after acquiring an additional 34,455 shares in the last quarter. Soleus Capital Management L.P. bought a new position in Urogen Pharma during the second quarter worth $29,934,000. SG Americas Securities LLC lifted its stake in Urogen Pharma by 20.3% during the first quarter. SG Americas Securities LLC now owns 1,657,846 shares of the company’s stock worth $29,808,000 after purchasing an additional 280,199 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Urogen Pharma during the fourth quarter worth $26,350,000. 91.29% of the stock is owned by institutional investors.

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.