UroGen Pharma (NASDAQ:URGN) Price Target Cut to $3.00 by Analysts at The Goldman Sachs Group

UroGen Pharma (NASDAQ:URGN) had its price target decreased by research analysts at The Goldman Sachs Group from $16.00 to $3.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential downside of 28.40% from the company’s previous close.

Other analysts have also issued reports about the stock. Scotiabank began coverage on shares of UroGen Pharma in a report on Wednesday, April 16th. They issued a “sector outperform” rating and a $23.00 price objective for the company. LADENBURG THALM/SH SH began coverage on shares of UroGen Pharma in a report on Wednesday, February 19th. They issued a “buy” rating and a $31.00 price objective for the company. D. Boral Capital restated a “buy” rating and issued a $25.00 price objective on shares of UroGen Pharma in a report on Thursday, May 8th. HC Wainwright lowered shares of UroGen Pharma from a “buy” rating to a “neutral” rating in a report on Thursday. Finally, Guggenheim restated a “buy” rating on shares of UroGen Pharma in a report on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, UroGen Pharma currently has an average rating of “Moderate Buy” and an average target price of $27.43.

UroGen Pharma Stock Performance

UroGen Pharma stock opened at $4.19 on Thursday. The company has a current ratio of 9.00, a quick ratio of 8.77 and a debt-to-equity ratio of 4.77. The firm has a 50-day moving average of $10.03 and a 200-day moving average of $10.67. The firm has a market cap of $193.19 million, a P/E ratio of -1.33 and a beta of 0.66. UroGen Pharma has a 1-year low of $3.42 and a 1-year high of $20.70.

UroGen Pharma (NASDAQ:URGN) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.09). The business had revenue of $20.25 million for the quarter, compared to analyst estimates of $22.71 million. Sell-side analysts expect that UroGen Pharma will post -3.12 EPS for the current year.

Hedge Funds Weigh In On UroGen Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in shares of UroGen Pharma by 263.1% during the third quarter. JPMorgan Chase & Co. now owns 68,062 shares of the company’s stock valued at $864,000 after purchasing an additional 49,318 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of UroGen Pharma during the fourth quarter valued at approximately $1,472,000. Bank of New York Mellon Corp increased its stake in shares of UroGen Pharma by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 93,997 shares of the company’s stock valued at $1,001,000 after purchasing an additional 6,430 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of UroGen Pharma during the fourth quarter valued at approximately $126,000. Finally, Rhumbline Advisers increased its position in shares of UroGen Pharma by 2.8% during the fourth quarter. Rhumbline Advisers now owns 51,270 shares of the company’s stock valued at $546,000 after acquiring an additional 1,402 shares in the last quarter. Institutional investors own 91.29% of the company’s stock.

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.