Zacks Investment Research Lowers Urogen Pharma (URGN) to Hold

Urogen Pharma (NASDAQ:URGN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “UroGen Pharma Ltd. is a clinical stage biopharmaceutical company. It focused on developing urological pathologies with a focus on uro-oncology. The company’s product candidates include MitoGel and VesiGel which are in clinical trial stage. Its platform technologies include: RTGel and Immunotherapy. UroGen Pharma Ltd. is based in Ra’anana, Israel. “

Several other analysts also recently commented on URGN. HC Wainwright started coverage on shares of Urogen Pharma in a report on Tuesday, January 29th. They issued a “buy” rating and a $82.00 price objective on the stock. Oppenheimer set a $70.00 price objective on shares of Urogen Pharma and gave the company a “buy” rating in a report on Thursday, February 28th. Raymond James set a $57.00 price objective on shares of Urogen Pharma and gave the company a “buy” rating in a report on Friday, March 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Urogen Pharma in a report on Tuesday, March 5th. Finally, Cowen reaffirmed a “buy” rating on shares of Urogen Pharma in a report on Monday, May 6th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Urogen Pharma has a consensus rating of “Buy” and a consensus price target of $64.17.

Shares of URGN stock traded down $0.29 during trading hours on Thursday, hitting $39.00. The company’s stock had a trading volume of 7,318 shares, compared to its average volume of 182,787. The company has a market capitalization of $532.44 million, a P/E ratio of -8.13 and a beta of 1.33. Urogen Pharma has a 12-month low of $34.61 and a 12-month high of $69.57.

Urogen Pharma (NASDAQ:URGN) last released its quarterly earnings data on Thursday, May 9th. The company reported ($1.11) EPS for the quarter, beating the consensus estimate of ($1.12) by $0.01. Urogen Pharma had a negative net margin of 4,296.08% and a negative return on equity of 61.24%. As a group, equities analysts forecast that Urogen Pharma will post -5.01 earnings per share for the current year.

In related news, insider Mark Schoenberg sold 1,991 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $37.30, for a total transaction of $74,264.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new position in shares of Urogen Pharma during the 3rd quarter valued at $421,000. BlackRock Inc. grew its position in shares of Urogen Pharma by 14.3% during the 3rd quarter. BlackRock Inc. now owns 102,619 shares of the company’s stock valued at $4,847,000 after purchasing an additional 12,829 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Urogen Pharma during the 4th quarter valued at $418,000. ETF Managers Group LLC grew its position in shares of Urogen Pharma by 14.6% during the 4th quarter. ETF Managers Group LLC now owns 12,087 shares of the company’s stock valued at $520,000 after purchasing an additional 1,541 shares in the last quarter. Finally, Alps Advisors Inc. grew its position in shares of Urogen Pharma by 32.6% during the 4th quarter. Alps Advisors Inc. now owns 37,210 shares of the company’s stock valued at $1,602,000 after purchasing an additional 9,156 shares in the last quarter. 72.78% of the stock is currently owned by hedge funds and other institutional investors.

Urogen Pharma Company Profile

UroGen Pharma Ltd., a clinical stage biopharmaceutical company, focuses on developing novel therapies for urological pathologies. The company's lead product candidates, UGN-101 and UGN-102 are proprietary formulations of the chemotherapy drug mitomycin, a generic drug, which is currently used off-label for urothelial cancer treatment in a water-based formulation as an adjuvant or supplemental in post-surgery therapy.

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