Urogen Pharma (NASDAQ:URGN) Hits New 12-Month High – Here’s What Happened

Urogen Pharma (NASDAQ:URGN) reached a new 52-week high on Monday . The company traded as high as $36.20 and last traded at $36.1620, with a volume of 320424 shares trading hands. The stock had previously closed at $34.54.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Urogen Pharma in a report on Monday, April 20th. D. Boral Capital restated a “buy” rating and set a $33.00 target price on shares of Urogen Pharma in a research report on Tuesday, March 31st. Oppenheimer reaffirmed an “outperform” rating on shares of Urogen Pharma in a research note on Tuesday, June 2nd. Jefferies Financial Group upgraded Urogen Pharma to a “strong-buy” rating in a research note on Friday, April 24th. Finally, HC Wainwright reissued a “buy” rating and set a $45.00 price objective on shares of Urogen Pharma in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Urogen Pharma presently has an average rating of “Moderate Buy” and an average price target of $39.50.

Urogen Pharma Stock Up 5.8%

The firm has a fifty day moving average price of $29.08 and a 200 day moving average price of $23.56. The company has a market cap of $1.90 billion, a P/E ratio of -14.15 and a beta of 1.59.

Urogen Pharma (NASDAQ:URGN) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.01. The company had revenue of $50.96 million during the quarter, compared to analyst estimates of $44.83 million. On average, sell-side analysts anticipate that Urogen Pharma will post -0.98 earnings per share for the current year.

Insider Transactions at Urogen Pharma

In related news, insider Mark Schoenberg sold 10,000 shares of Urogen Pharma stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $35.01, for a total value of $350,100.00. Following the completion of the sale, the insider directly owned 129,763 shares in the company, valued at $4,543,002.63. This trade represents a 7.15% 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Urogen Pharma

Several institutional investors have recently modified their holdings of URGN. Glenmede Trust Co. NA bought a new stake in Urogen Pharma in the first quarter valued at about $189,000. Janus Henderson Group PLC acquired a new stake in Urogen Pharma during the 1st quarter worth $343,000. Ally Bridge Group NY LLC bought a new position in Urogen Pharma during the first quarter worth about $3,634,000. ADAR1 Capital Management LLC lifted its holdings in Urogen Pharma by 139.1% during the first quarter. ADAR1 Capital Management LLC now owns 395,459 shares of the company’s stock worth $7,110,000 after acquiring an additional 230,084 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in Urogen Pharma by 1,605.5% in the first quarter. California State Teachers Retirement System now owns 38,750 shares of the company’s stock valued at $697,000 after acquiring an additional 36,478 shares during the period. Institutional investors and hedge funds own 91.29% of the company’s stock.

About Urogen Pharma

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.