Urogen Pharma (NASDAQ:URGN) Hits New 1-Year High – Time to Buy?

Urogen Pharma (NASDAQ:URGN)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $48.21 and last traded at $47.9360, with a volume of 125669 shares traded. The stock had previously closed at $47.11.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on URGN shares. Guggenheim upped their price target on Urogen Pharma from $42.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Urogen Pharma in a research report on Friday, July 17th. UBS Group reaffirmed a “buy” rating on shares of Urogen Pharma in a research note on Thursday, July 9th. Oppenheimer upped their target price on Urogen Pharma from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Finally, Jefferies Financial Group raised shares of Urogen Pharma to a “strong-buy” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, eight have given 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.78.

Urogen Pharma Price Performance

The firm has a market cap of $2.34 billion, a price-to-earnings ratio of -24.21 and a beta of 1.57. The firm’s fifty day moving average is $37.24 and its 200-day moving average is $27.57.

Urogen Pharma (NASDAQ:URGN) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The business had revenue of $72.46 million during the quarter, compared to analysts’ expectations of $63.55 million. As a group, equities research analysts anticipate that Urogen Pharma will post -0.2 EPS for the current year.

Insider Activity

In other news, insider Mark Schoenberg sold 10,000 shares of Urogen Pharma stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $40.00, for a total value of $400,000.00. Following the completion of the sale, the insider owned 119,763 shares in the company, valued at $4,790,520. The trade was a 7.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 25,222 shares of company stock worth $892,661. 4.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Urogen Pharma

Several large investors have recently made changes to their positions in URGN. Paradigm Biocapital Advisors LP grew its stake in Urogen Pharma by 6.1% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 4,473,648 shares of the company’s stock valued at $104,773,000 after acquiring an additional 257,564 shares during the period. BlackRock Inc. purchased a new stake in Urogen Pharma in the 2nd quarter valued at $117,814,000. Morgan Stanley lifted its position in shares of Urogen Pharma by 1.4% during the fourth quarter. Morgan Stanley now owns 2,562,901 shares of the company’s stock valued at $60,023,000 after purchasing an additional 34,455 shares in the last quarter. Soleus Capital Management L.P. bought a new position in shares of Urogen Pharma during the 2nd quarter worth approximately $29,934,000. Finally, SG Americas Securities LLC lifted its holdings 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 acquiring an additional 280,199 shares during the period. 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.