Urogen Pharma (NASDAQ:URGN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Urogen Pharma (NASDAQ:URGN) has earned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $50.3750.

A number of equities research analysts recently issued reports on the stock. TD Cowen boosted their target price on shares of Urogen Pharma from $50.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. UBS Group reaffirmed a “buy” rating on shares of Urogen Pharma in a research note on Thursday, July 9th. HC Wainwright lifted their price target on shares of Urogen Pharma from $45.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 6th. LADENBURG THALM/SH SH started coverage on shares of Urogen Pharma in a report on Monday, May 11th. They issued a “buy” rating and a $43.00 price target on the stock. Finally, Guggenheim boosted their price objective on shares of Urogen Pharma from $42.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, August 6th.

Insiders Place Their Bets

In related news, insider Mark Schoenberg sold 60,677 shares of Urogen Pharma stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $47.05, for a total value of $2,854,852.85. Following the transaction, the insider owned 59,086 shares in the company, valued at approximately $2,779,996.30. This trade represents a 50.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 85,899 shares of company stock valued at $3,747,513 in the last 90 days. 4.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Urogen Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its stake in shares of Urogen Pharma by 4,168.7% in the 2nd quarter. California State Teachers Retirement System now owns 1,654,123 shares of the company’s stock valued at $60,872,000 after purchasing an additional 1,615,373 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Urogen Pharma by 15.1% during the 2nd quarter. Wellington Management Group LLP now owns 115,362 shares of the company’s stock worth $4,245,000 after purchasing an additional 15,147 shares during the period. Palo Alto Investors LP purchased a new stake in shares of Urogen Pharma during the 2nd quarter worth about $901,600,000. Coastal Bridge Advisors LLC acquired a new stake in Urogen Pharma during the 2nd quarter worth approximately $1,362,000. Finally, Jefferies Financial Group Inc. acquired a new stake in Urogen Pharma during the 2nd quarter worth approximately $80,947,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Urogen Pharma Price Performance

URGN opened at $45.50 on Friday. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -22.98 and a beta of 1.57. The business has a 50-day moving average of $41.61 and a two-hundred day moving average of $29.85. Urogen Pharma has a 12 month low of $15.86 and a 12 month high of $50.81.

Urogen Pharma (NASDAQ:URGN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The firm had revenue of $72.46 million for the quarter, compared to the consensus estimate of $63.55 million. Equities research analysts anticipate that Urogen Pharma will post -0.2 earnings per share for the current year.

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.