Urogen Pharma (NASDAQ:URGN) Sets New 52-Week High – Should You Buy?

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Jefferies Financial Group upgraded shares of Urogen Pharma to a “strong-buy” rating in a research report on Friday, April 24th. LADENBURG THALM/SH SH started coverage on Urogen Pharma in a report on Monday, May 11th. They issued a “buy” rating and a $43.00 target price on the stock. Oppenheimer boosted their target price on Urogen Pharma from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. TD Cowen upped their target price on Urogen Pharma from $50.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $44.00 target price on shares of Urogen Pharma in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.78.

Urogen Pharma Trading Down 1.8%

The firm’s 50-day simple moving average is $38.10 and its two-hundred day simple moving average is $27.97. The stock has a market capitalization of $2.35 billion, a PE ratio of -24.30 and a beta of 1.57.

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

Insider Transactions at Urogen Pharma

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

Institutional Trading of Urogen Pharma

A number of hedge funds have recently made changes to their positions in URGN. Swiss National Bank purchased a new position in shares of Urogen Pharma during the 1st quarter valued at $1,399,000. SG Americas Securities LLC boosted its position 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 valued at $29,808,000 after purchasing an additional 280,199 shares during the last quarter. ADAR1 Capital Management LLC grew its stake in Urogen Pharma by 139.1% in the first quarter. ADAR1 Capital Management LLC now owns 395,459 shares of the company’s stock valued at $7,110,000 after purchasing an additional 230,084 shares in the last quarter. Rice Hall James & Associates LLC increased its position in Urogen Pharma by 8.8% in the 4th quarter. Rice Hall James & Associates LLC now owns 281,876 shares of the company’s stock worth $6,602,000 after purchasing an additional 22,733 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in Urogen Pharma by 50.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 276,696 shares of the company’s stock worth $10,182,000 after purchasing an additional 93,192 shares during the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

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.