Urogen Pharma (NASDAQ:URGN) Trading Up 9% – Should You Buy?

Urogen Pharma (NASDAQ:URGN) shares rose 9% on Monday . The stock traded as high as $24.57 and last traded at $24.56. Approximately 862,772 shares traded hands during mid-day trading, an increase of 11% from the average daily volume of 774,403 shares. The stock had previously closed at $22.54.

Analyst Ratings Changes

URGN has been the topic of several research reports. Jefferies Financial Group initiated coverage on shares of Urogen Pharma in a research report on Friday, April 10th. They issued a “buy” rating and a $40.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Urogen Pharma in a research report on Wednesday, January 21st. D. Boral Capital reiterated a “buy” rating and issued a $33.00 price target on shares of Urogen Pharma in a research report on Tuesday, March 31st. Finally, Oppenheimer reiterated an “outperform” rating on shares of Urogen Pharma in a research report on Monday, March 2nd. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Urogen Pharma has an average rating of “Moderate Buy” and a consensus price target of $34.13.

Urogen Pharma Trading Up 10.6%

The business’s 50 day moving average is $19.72 and its 200 day moving average is $20.92. The stock has a market capitalization of $1.21 billion, a PE ratio of -7.79 and a beta of 1.43.

Urogen Pharma (NASDAQ:URGN) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.12. The business had revenue of $37.84 million during the quarter, compared to the consensus estimate of $39.92 million. As a group, analysts anticipate that Urogen Pharma will post -3.12 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Jason Drew Smith sold 7,479 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $19.69, for a total transaction of $147,261.51. Following the completion of the sale, the general counsel directly owned 51,326 shares of the company’s stock, valued at approximately $1,010,608.94. The trade was a 12.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Schoenberg sold 7,373 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $19.69, for a total transaction of $145,174.37. Following the sale, the insider directly owned 144,985 shares of the company’s stock, valued at $2,854,754.65. This represents a 4.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Urogen Pharma

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Urogen Pharma by 36.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 534,545 shares of the company’s stock worth $10,664,000 after buying an additional 144,181 shares during the period. Squarepoint Ops LLC lifted its stake in Urogen Pharma by 187.8% in the second quarter. Squarepoint Ops LLC now owns 94,309 shares of the company’s stock worth $1,292,000 after acquiring an additional 61,545 shares during the period. GSA Capital Partners LLP purchased a new stake in Urogen Pharma in the third quarter worth about $977,000. NEOS Investment Management LLC purchased a new stake in Urogen Pharma in the third quarter worth about $1,007,000. Finally, Privium Fund Management B.V. lifted its stake in Urogen Pharma by 82.7% in the third quarter. Privium Fund Management B.V. now owns 196,622 shares of the company’s stock worth $3,923,000 after acquiring an additional 89,000 shares during the period. 91.29% of the stock is currently 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.