Urogen Pharma (NASDAQ:URGN) Shares Down 16.3% on Disappointing Earnings

Urogen Pharma (NASDAQ:URGN)’s stock price dropped 16.3% on Wednesday following a dissappointing earnings announcement. The stock traded as low as $29.35 and last traded at $28.80. 252,768 shares changed hands during trading, a decline of 70% from the average daily volume of 837,947 shares. The stock had previously closed at $34.40.

The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.14). The company had revenue of $89.00 million during the quarter, compared to analysts’ expectations of $89.92 million.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Guggenheim upped their target price on Urogen Pharma from $42.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $44.00 price objective on shares of Urogen Pharma in a research note on Wednesday, July 15th. Jefferies Financial Group reiterated a “buy” rating and set a $56.00 price target on shares of Urogen Pharma in a research report on Thursday, September 10th. TD Cowen boosted their price target 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. Finally, UBS Group reiterated a “buy” rating on shares of Urogen Pharma in a research report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.38.

Insider Activity

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 transaction of $37,383.32. Following the sale, the insider directly owned 59,882 shares of the company’s stock, valued at $2,570,135.44. The trade was a 1.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Jason Smith sold 1,519 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $42.54, for a total value of $64,618.26. Following the completion of the sale, the general counsel owned 53,141 shares of the company’s stock, valued at $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 three months, insiders have sold 65,269 shares of company stock worth $3,037,646. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Urogen Pharma

Large investors have recently bought and sold shares of the business. CenterBook Partners LP purchased a new position in shares of Urogen Pharma in the 3rd quarter valued at $642,000. Calamos Advisors LLC bought a new stake in Urogen Pharma during the third quarter valued at about $246,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Urogen Pharma during the third quarter valued at about $101,000. State of Wyoming grew its stake in Urogen Pharma by 773.4% in the third quarter. State of Wyoming now owns 4,629 shares of the company’s stock valued at $188,000 after purchasing an additional 4,099 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Urogen Pharma by 15.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 8,919 shares of the company’s stock worth $361,000 after purchasing an additional 1,165 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

Urogen Pharma Price Performance

The firm has a market capitalization of $1.43 billion, a P/E ratio of -14.36 and a beta of 1.68. The stock’s fifty day simple moving average is $39.96 and its 200 day simple moving average is $31.42.

Urogen Pharma Company Profile

UroGen Pharma Ltd. (NASDAQ: URGN) is a biopharmaceutical company focused on developing and commercializing treatments for cancers of the urinary tract. The company’s therapies are designed to deliver medicines directly to the affected area, with the goal of improving drug exposure while limiting systemic side effects.

UroGen’s primary commercial product is Jelmyto, a mitomycin-based treatment approved in the United States for adults with low-grade upper tract urothelial cancer. Jelmyto uses UroGen’s proprietary RTGel technology, which forms a gel in the urinary tract and enables the sustained local release of mitomycin.

The company has also developed UGN-102, an investigational mitomycin-based reverse thermal gel intended for the treatment of low-grade, intermediate-risk non-muscle-invasive bladder cancer.