Oppenheimer Cuts UroGen Pharma (NASDAQ:URGN) Price Target to $10.00

UroGen Pharma (NASDAQ:URGN) had its price objective trimmed by Oppenheimer from $36.00 to $10.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

URGN has been the subject of a number of other reports. The Goldman Sachs Group lowered their price objective on UroGen Pharma from $16.00 to $3.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. D. Boral Capital restated a “buy” rating and set a $25.00 price objective on shares of UroGen Pharma in a research note on Thursday, May 8th. Scotiabank initiated coverage on UroGen Pharma in a research note on Wednesday, April 16th. They set a “sector outperform” rating and a $23.00 price objective for the company. HC Wainwright downgraded UroGen Pharma from a “buy” rating to a “neutral” rating in a research note on Thursday, May 22nd. Finally, Guggenheim lowered their price objective on UroGen Pharma from $40.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.14.

UroGen Pharma Stock Performance

URGN stock opened at $5.14 on Tuesday. The company has a current ratio of 9.00, a quick ratio of 8.77 and a debt-to-equity ratio of 4.77. The firm has a market cap of $236.99 million, a P/E ratio of -1.63 and a beta of 0.66. UroGen Pharma has a 12-month low of $3.42 and a 12-month high of $20.70. The stock’s 50 day simple moving average is $8.75 and its 200 day simple moving average is $10.20.

UroGen Pharma (NASDAQ:URGN) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.09). The company had revenue of $20.25 million during the quarter, compared to analyst estimates of $22.71 million. As a group, equities research analysts predict that UroGen Pharma will post -3.12 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of URGN. SG Americas Securities LLC grew its stake in shares of UroGen Pharma by 44.1% in the fourth quarter. SG Americas Securities LLC now owns 20,269 shares of the company’s stock worth $216,000 after purchasing an additional 6,207 shares in the last quarter. Rhumbline Advisers boosted its stake in UroGen Pharma by 2.8% during the fourth quarter. Rhumbline Advisers now owns 51,270 shares of the company’s stock valued at $546,000 after buying an additional 1,402 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in UroGen Pharma by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 93,997 shares of the company’s stock valued at $1,001,000 after buying an additional 6,430 shares in the last quarter. ARK Investment Management LLC boosted its stake in UroGen Pharma by 15.2% during the fourth quarter. ARK Investment Management LLC now owns 140,148 shares of the company’s stock valued at $1,493,000 after buying an additional 18,514 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in UroGen Pharma during the fourth quarter valued at about $126,000. Institutional investors own 91.29% of the company’s stock.

UroGen Pharma Company Profile

UroGen Pharma Ltd., a biotechnology company, engages in the development and commercialization of solutions for urothelial and specialty cancers. It offers RTGel, a novel proprietary polymeric biocompatible, reverse thermal gelation hydrogel technology to improve therapeutic profiles of existing drugs; and Jelmyto for pyelocalyceal solution.