Urogen Pharma (NASDAQ:URGN) Shares Up 5.9% – Should You Buy?

Urogen Pharma (NASDAQ:URGN)’s share price traded up 5.9% during trading on Wednesday . The company traded as high as $46.10 and last traded at $46.39. 65,100 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 803,839 shares. The stock had previously closed at $43.81.

Wall Street Analysts Forecast Growth

URGN has been the subject of a number of analyst reports. UBS Group reissued a “buy” rating on shares of Urogen Pharma in a research report on Thursday, July 9th. Guggenheim lifted their price target on shares of Urogen Pharma from $42.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. TD Cowen upped their price target on Urogen Pharma from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group reiterated a “neutral” rating and set a $44.00 price objective on shares of Urogen Pharma in a report on Wednesday, July 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Urogen Pharma in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.38.

Urogen Pharma Stock Up 5.0%

The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -23.16 and a beta of 1.57. The business’s 50-day moving average is $43.02 and its 200-day moving average is $31.15.

Urogen Pharma (NASDAQ:URGN) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $63.55 million. As a group, analysts expect that Urogen Pharma will post -0.2 EPS for the current year.

Insider Buying and Selling at Urogen Pharma

In other Urogen Pharma news, insider Mark Schoenberg sold 60,677 shares of the company’s 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 completion of the sale, the insider directly owned 59,086 shares in the company, valued at $2,779,996.30. This represents a 50.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 80,677 shares of company stock worth $3,604,953. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Urogen Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Urogen Pharma by 7.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,320 shares of the company’s stock worth $258,000 after acquiring an additional 1,653 shares during the last quarter. Persistent Asset Partners Ltd purchased a new stake in shares of Urogen Pharma during the second quarter worth $66,000. Main Street Financial Solutions LLC increased its holdings in Urogen Pharma by 8.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 25,968 shares of the company’s stock worth $356,000 after purchasing an additional 1,968 shares during the period. Barclays PLC raised its holdings in Urogen Pharma by 3.8% in the fourth quarter. Barclays PLC now owns 57,744 shares of the company’s stock valued at $1,352,000 after acquiring an additional 2,125 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Urogen Pharma in the 2nd quarter valued at $78,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

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.