Urogen Pharma (NASDAQ:URGN) Shares Up 7.3% – Still a Buy?

Urogen Pharma (NASDAQ:URGN) rose 7.3% on Wednesday . The stock traded as high as $25.07 and last traded at $25.27. Approximately 619,552 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 1,451,188 shares. The stock had previously closed at $23.55.

Wall Street Analyst Weigh In

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

Urogen Pharma Stock Up 8.0%

The stock’s 50 day moving average price is $19.25 and its two-hundred day moving average price is $15.79. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -7.30 and a beta of 1.06.

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

Insider Activity

In related news, General Counsel Jason Drew Smith sold 1,520 shares of Urogen Pharma stock in a transaction on Monday, September 8th. The shares were 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 of the company’s stock, valued at approximately $827,558.55. This trade represents a 3.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Chris Degnan sold 2,203 shares of the business’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $16.85, for a total transaction of $37,120.55. Following the sale, the chief financial officer directly owned 2,280 shares of the company’s stock, valued at $38,418. This represents a 49.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 4,594 shares of company stock worth $82,813. Corporate insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Urogen Pharma

Institutional investors and hedge funds have recently bought and sold shares of the business. Allianz Asset Management GmbH purchased a new position in Urogen Pharma in the second quarter worth approximately $203,000. Bender Robert & Associates purchased a new position in shares of Urogen Pharma during the 2nd quarter worth $475,000. Truist Financial Corp purchased a new position in shares of Urogen Pharma during the 2nd quarter worth $423,000. Nuveen LLC acquired a new stake in shares of Urogen Pharma during the 1st quarter worth about $1,028,000. Finally, Persistent Asset Partners Ltd purchased a new stake in Urogen Pharma in the 1st quarter valued at about $194,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

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.