Urogen Pharma (NASDAQ:URGN) Given New $40.00 Price Target at Oppenheimer

Urogen Pharma (NASDAQ:URGN) had its price objective lifted by investment analysts at Oppenheimer from $34.00 to $40.00 in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 52.38% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Jefferies Financial Group raised shares of Urogen Pharma to a “strong-buy” rating in a research note on Friday, April 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Urogen Pharma in a report on Monday, April 20th. Finally, D. Boral Capital restated a “buy” rating and issued a $33.00 price target on shares of Urogen Pharma in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, six have issued 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $35.25.

Urogen Pharma Stock Performance

Shares of URGN stock opened at $26.25 on Thursday. Urogen Pharma has a fifty-two week low of $3.42 and a fifty-two week high of $30.00. The stock’s fifty day moving average is $20.48 and its two-hundred day moving average is $21.50. The firm has a market capitalization of $1.28 billion, a P/E ratio of -8.20 and a beta of 1.58.

Urogen Pharma (NASDAQ:URGN) last released its earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.01. The business had revenue of $50.96 million for the quarter, compared to analysts’ expectations of $44.83 million. On average, equities analysts forecast that Urogen Pharma will post -1.45 earnings per share for the current year.

Institutional Investors Weigh In On Urogen Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of URGN. Paradigm Biocapital Advisors LP purchased a new position in Urogen Pharma during the third quarter worth about $84,111,000. Soleus Capital Management L.P. purchased a new stake in shares of Urogen Pharma in the 2nd quarter valued at approximately $29,934,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Urogen Pharma during the 4th quarter worth approximately $26,350,000. MPM Bioimpact LLC increased its holdings in shares of Urogen Pharma by 597.3% during the 4th quarter. MPM Bioimpact LLC now owns 941,378 shares of the company’s stock worth $22,047,000 after buying an additional 806,378 shares during the last quarter. Finally, TCG Crossover Management LLC purchased a new stake in shares of Urogen Pharma during the 3rd quarter valued at approximately $14,311,000. 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.