Urogen Pharma (NASDAQ:URGN) Sets New 12-Month High – Here’s Why

Urogen Pharma (NASDAQ:URGN) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $24.92 and last traded at $24.80, with a volume of 500011 shares changing hands. The stock had previously closed at $23.63.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on URGN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Urogen Pharma in a research note on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Urogen Pharma in a report on Monday, October 27th. Piper Sandler initiated coverage on shares of Urogen Pharma in a research report on Monday, August 18th. They issued an “overweight” rating and a $36.00 price target on the stock. Wall Street Zen raised shares of Urogen Pharma from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, D. Boral Capital reissued a “buy” rating and issued a $25.00 price target on shares of Urogen Pharma in a report on Monday, October 27th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Urogen Pharma Price Performance

The firm has a 50-day moving average price of $18.83 and a two-hundred day moving average price of $15.34. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -7.27 and a beta of 1.06.

Urogen Pharma (NASDAQ:URGN) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.03. The firm had revenue of $27.48 million during the quarter, compared to the consensus estimate of $34.09 million. Urogen Pharma had a negative return on equity of 97,487.15% and a negative net margin of 170.59%. On average, equities analysts predict that Urogen Pharma will post -3.12 EPS for the current year.

Insider Activity

In related news, CFO Chris Degnan sold 2,203 shares of the stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $16.85, for a total transaction of $37,120.55. Following the completion of the transaction, the chief financial officer directly owned 2,280 shares of the company’s stock, valued at approximately $38,418. This represents a 49.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Jason Drew Smith sold 1,520 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $19.11, for a total value of $29,047.20. Following the sale, the general counsel owned 43,305 shares in the company, valued at approximately $827,558.55. This represents a 3.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,594 shares of company stock worth $82,813 over the last three months. Insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Urogen Pharma

Large investors have recently modified their holdings of the stock. Osaic Holdings Inc. boosted its holdings in shares of Urogen Pharma by 491.2% during the 2nd quarter. Osaic Holdings Inc. now owns 3,695 shares of the company’s stock worth $50,000 after buying an additional 3,070 shares during the period. CWM LLC lifted its position in Urogen Pharma by 6,047.1% during the first quarter. CWM LLC now owns 5,225 shares of the company’s stock worth $58,000 after acquiring an additional 5,140 shares during the last quarter. State of Wyoming bought a new stake in shares of Urogen Pharma during the third quarter worth approximately $66,000. Strs Ohio acquired a new position in shares of Urogen Pharma in the third quarter valued at approximately $76,000. Finally, Tower Research Capital LLC TRC increased 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 worth $94,000 after purchasing an additional 5,571 shares during the period. 91.29% of the stock is owned by institutional investors.

About Urogen Pharma

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.