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

Urogen Pharma (NASDAQ:URGN)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued on Monday, Marketbeat Ratings reports. They presently have a $75.00 price target on the stock. HC Wainwright‘s target price would indicate a potential upside of 111.39% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. UBS Group reiterated a “buy” rating on shares of Urogen Pharma in a research note on Thursday, July 9th. The Goldman Sachs Group reissued a “neutral” rating and set a $44.00 price target on shares of Urogen Pharma in a research report on Wednesday, July 15th. TD Cowen increased their price target on Urogen Pharma from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Urogen Pharma in a research report on Thursday, October 15th. Finally, Guggenheim increased their price target on Urogen Pharma from $42.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Urogen Pharma has a consensus rating of “Moderate Buy” and an average target price of $52.38.

Urogen Pharma Trading Up 1.3%

Shares of NASDAQ URGN opened at $35.48 on Monday. The firm has a market cap of $1.73 billion, a P/E ratio of -17.92 and a beta of 1.57. Urogen Pharma has a 1-year low of $16.50 and a 1-year high of $50.81. The business’s 50 day moving average is $42.40 and its 200-day moving average is $35.74.

Urogen Pharma (NASDAQ:URGN) last announced its earnings results on Wednesday, August 5th. The company reported ($0.28) earnings per share 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. Analysts forecast that Urogen Pharma will post -0.20 EPS for the current year.

Insiders Place Their Bets

In other Urogen Pharma news, General Counsel Jason Smith sold 1,519 shares of the company’s stock in a transaction 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 sale, the general counsel directly owned 53,141 shares in the company, valued at $2,260,618.14. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Schoenberg sold 871 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $42.92, for a total value of $37,383.32. Following the sale, the insider owned 59,882 shares of the company’s stock, valued at $2,570,135.44. The trade was a 1.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 65,269 shares of company stock worth $3,037,646 over the last three months. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Urogen Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Urogen Pharma during the second quarter worth $117,814,000. Jefferies Financial Group Inc. bought a new stake in Urogen Pharma during the second quarter worth $80,947,000. Opaleye Management Inc. lifted its stake in Urogen Pharma by 0.7% during the second quarter. Opaleye Management Inc. now owns 1,439,996 shares of the company’s stock worth $52,992,000 after purchasing an additional 9,996 shares during the last quarter. SG Americas Securities LLC lifted its stake in Urogen Pharma by 20.3% during the first quarter. SG Americas Securities LLC now owns 1,657,846 shares of the company’s stock worth $29,808,000 after purchasing an additional 280,199 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in Urogen Pharma during the second quarter worth $17,506,000. 91.29% of the stock is currently owned by institutional investors.

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.