Urogen Pharma (NASDAQ:URGN) Shares Down 9.9% – Here’s What Happened

Shares of Urogen Pharma (NASDAQ:URGN) dropped 9.9% during trading on Thursday. The stock traded as low as $38.60 and last traded at $36.67. 93,420 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 799,128 shares. The stock had previously closed at $40.70.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. TD Cowen lifted their price objective 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 report 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 research note on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Urogen Pharma in a report on Friday, July 17th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $44.00 price objective on shares of Urogen Pharma in a research note on Wednesday, July 15th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.38.

Urogen Pharma Price Performance

The business has a fifty day simple moving average of $43.93 and a two-hundred day simple moving average of $34.44. The company has a market cap of $1.72 billion, a PE ratio of -17.79 and a beta of 1.57.

Urogen Pharma (NASDAQ:URGN) last announced its quarterly 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 analyst estimates of $63.55 million. On average, equities research analysts predict that Urogen Pharma will post -0.2 EPS for the current year.

Insider Transactions at Urogen Pharma

In other Urogen Pharma news, insider Mark Schoenberg sold 871 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $42.92, for a total value of $37,383.32. Following the completion of the transaction, the insider directly owned 59,882 shares in the company, valued at approximately $2,570,135.44. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Jason Smith sold 1,519 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $42.54, for a total transaction of $64,618.26. Following the sale, the general counsel directly owned 53,141 shares of the company’s stock, valued at approximately $2,260,618.14. The trade was a 2.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 63,067 shares of company stock worth $2,956,854. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Persistent Asset Partners Ltd bought a new position in shares of Urogen Pharma during the 2nd quarter worth approximately $66,000. Quantbot Technologies LP acquired a new stake in Urogen Pharma in the second quarter valued at approximately $78,000. Glenmede Trust Co. NA acquired a new stake in Urogen Pharma in the first quarter valued at approximately $189,000. Janus Henderson Group PLC purchased a new position in Urogen Pharma in the first quarter worth $343,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Urogen Pharma in the second quarter worth $412,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Urogen Pharma Company Profile

UroGen Pharma Ltd. is a biopharmaceutical company focused on developing and commercializing therapies for cancers of the urinary tract. The company’s platform is based on RTGel, a proprietary reverse-thermal hydrogel designed to retain medicines in the urinary tract and provide localized treatment while limiting systemic exposure.

UroGen’s lead commercial product is JELMYTO (mitomycin), a gel-based therapy approved by the U.S. Food and Drug Administration for the primary chemoablation of low-grade upper tract urothelial cancer in adults.