Urogen Pharma (NASDAQ:URGN) Stock Price Up 5.9% – Time to Buy?

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

Analyst Ratings Changes

Several brokerages have recently commented on URGN. Jefferies Financial Group reiterated a “buy” rating and set a $56.00 price objective on shares of Urogen Pharma in a research report on Thursday. TD Cowen boosted their target price on Urogen Pharma from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. UBS Group restated a “buy” rating on shares of Urogen Pharma in a research report on Thursday, July 9th. Oppenheimer upped their target price on Urogen Pharma from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Finally, Guggenheim increased their price target on shares of Urogen Pharma from $42.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Urogen Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $52.38.

Urogen Pharma Stock Down 6.1%

The firm’s 50-day simple moving average is $43.24 and its 200-day simple moving average is $31.46. The firm has a market capitalization of $2.06 billion, a PE ratio of -21.33 and a beta of 1.57.

Urogen Pharma (NASDAQ:URGN) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The firm had revenue of $72.46 million during the quarter, compared to analysts’ expectations of $63.55 million. On average, equities research analysts forecast that Urogen Pharma will post -0.2 earnings per share for the current year.

Insider Activity at Urogen Pharma

In other Urogen Pharma news, General Counsel Jason Smith sold 1,519 shares of Urogen Pharma stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $42.54, for a total value of $64,618.26. Following the transaction, the general counsel directly owned 53,141 shares of the company’s stock, valued at $2,260,618.14. The trade was a 2.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Schoenberg sold 60,677 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were 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 owned 59,086 shares of the company’s stock, valued at $2,779,996.30. The trade was a 50.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 83,067 shares of company stock worth $3,706,954. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Persistent Asset Partners Ltd purchased a new stake in Urogen Pharma during the 2nd quarter valued at $66,000. Quantbot Technologies LP bought a new stake in Urogen Pharma in the 2nd quarter worth $78,000. Russell Investments Group Ltd. increased its position in shares of Urogen Pharma by 1,594.4% in the third quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company’s stock valued at $66,000 after acquiring an additional 3,125 shares during the period. Osaic Holdings Inc. increased its position in shares of Urogen Pharma by 491.2% in the second quarter. Osaic Holdings Inc. now owns 3,695 shares of the company’s stock valued at $50,000 after acquiring an additional 3,070 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of Urogen Pharma by 422.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the company’s stock valued at $94,000 after acquiring an additional 5,571 shares during the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

Urogen Pharma Company Profile

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.