HC Wainwright Reaffirms “Buy” Rating for Urogen Pharma (NASDAQ:URGN)

Urogen Pharma (NASDAQ:URGN)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report issued on Monday, Benzinga reports. They presently have a $75.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 123.05% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $56.00 target price on shares of Urogen Pharma in a research report on Thursday, September 10th. UBS Group reissued a “buy” rating on shares of Urogen Pharma in a research note on Thursday, July 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Urogen Pharma in a report on Thursday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $44.00 target price on shares of Urogen Pharma in a research note on Wednesday, July 15th. Finally, Oppenheimer lifted their target price on shares of Urogen Pharma from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.38.

Urogen Pharma Trading Down 2.7%

Urogen Pharma stock traded down $0.94 during trading hours on Monday, hitting $33.63. 296,320 shares of the stock traded hands, compared to its average volume of 822,096. The firm’s 50-day moving average price is $43.16 and its two-hundred day moving average price is $35.39. The company has a market cap of $1.64 billion, a PE ratio of -16.98 and a beta of 1.57. Urogen Pharma has a one year low of $16.36 and a one year high of $50.81.

Urogen Pharma (NASDAQ:URGN) last released its earnings results on Wednesday, August 5th. The company reported ($0.28) 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. On average, sell-side analysts expect that Urogen Pharma will post -0.20 earnings per share for the current fiscal year.

Insider Activity at Urogen Pharma

In related news, General Counsel Jason Smith sold 1,519 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $42.54, for a total transaction of $64,618.26. Following the completion of the transaction, the general counsel directly owned 53,141 shares of the company’s stock, valued at approximately $2,260,618.14. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Schoenberg sold 871 shares of Urogen Pharma stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $42.92, for a total value of $37,383.32. Following the completion of the transaction, the insider owned 59,882 shares of the company’s stock, valued at approximately $2,570,135.44. This represents a 1.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 65,269 shares of company stock worth $3,037,646. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Urogen Pharma

Several institutional investors have recently bought and sold shares of the business. Persistent Asset Partners Ltd acquired a new stake in shares of Urogen Pharma in the 2nd quarter worth $66,000. Quantbot Technologies LP purchased a new position in shares of Urogen Pharma during the 2nd quarter worth $78,000. Glenmede Trust Co. NA acquired a new position in shares of Urogen Pharma during the 1st quarter valued at about $189,000. Janus Henderson Group PLC purchased a new stake in shares of Urogen Pharma in the first quarter valued at about $343,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Urogen Pharma in the second quarter valued at about $412,000. 91.29% of the stock is owned by hedge funds and other institutional investors.

About Urogen Pharma

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.