Urogen Pharma’s (URGN) Buy Rating Reaffirmed at HC Wainwright

Urogen Pharma (NASDAQ:URGN)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $75.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 122.72% from the company’s previous close.

Several other equities analysts also recently issued reports on URGN. Weiss Ratings reissued a “sell (d-)” rating on shares of Urogen Pharma in a research note on Thursday. UBS Group reissued a “buy” rating on shares of Urogen Pharma in a research note on Thursday, July 9th. Jefferies Financial Group reissued a “buy” rating and set a $56.00 price objective on shares of Urogen Pharma in a research note on Thursday, September 10th. Guggenheim upped their price objective on shares of Urogen Pharma from $42.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, TD Cowen upped their price objective on shares of Urogen Pharma from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Urogen Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $52.38.

Urogen Pharma Trading Down 2.6%

Shares of URGN stock traded down $0.89 during trading hours on Monday, hitting $33.68. The company’s stock had a trading volume of 151,062 shares, compared to its average volume of 821,223. The business has a fifty day moving average of $43.16 and a 200-day moving average of $35.39. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -17.01 and a beta of 1.57. Urogen Pharma has a twelve month low of $16.36 and a twelve month high of $50.81.

Urogen Pharma (NASDAQ:URGN) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The company had revenue of $72.46 million for the quarter, compared to analyst estimates of $63.55 million. On average, equities analysts expect that Urogen Pharma will post -0.20 EPS for the current fiscal year.

Insider Activity at Urogen Pharma

In other Urogen Pharma news, CFO Chris Degnan sold 2,202 shares of the stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $36.69, for a total transaction of $80,791.38. Following the transaction, the chief financial officer owned 4,561 shares of the company’s stock, valued at $167,343.09. This trade represents a 32.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the general counsel directly owned 53,141 shares in the company, valued at approximately $2,260,618.14. This represents a 2.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 65,269 shares of company stock valued at $3,037,646. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Urogen Pharma

Large investors have recently bought and sold shares of the stock. Partners Capital Investment Group LLP purchased a new position in Urogen Pharma during the second quarter worth approximately $566,000. Legal & General Group Plc purchased a new position in Urogen Pharma during the second quarter worth approximately $1,319,000. California State Teachers Retirement System raised its stake in Urogen Pharma by 1,605.5% during the first quarter. California State Teachers Retirement System now owns 38,750 shares of the company’s stock worth $697,000 after purchasing an additional 36,478 shares during the period. Rice Hall James & Associates LLC purchased a new position in Urogen Pharma during the second quarter worth approximately $11,064,000. Finally, Elmind Capital LP purchased a new position in Urogen Pharma during the second quarter worth approximately $4,416,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.

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.