Urogen Pharma (NASDAQ:URGN) Hits New 52-Week High – Here’s What Happened

Shares of Urogen Pharma (NASDAQ:URGN) reached a new 52-week high on Thursday . The company traded as high as $39.77 and last traded at $39.74, with a volume of 272480 shares traded. The stock had previously closed at $38.03.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on URGN shares. Oppenheimer reiterated an “outperform” rating on shares of Urogen Pharma in a research note on Tuesday, June 2nd. D. Boral Capital reaffirmed a “buy” rating and set a $33.00 target price on shares of Urogen Pharma in a report on Tuesday, March 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Urogen Pharma in a research report on Monday, April 20th. UBS Group reiterated a “buy” rating on shares of Urogen Pharma in a report on Thursday. Finally, LADENBURG THALM/SH SH initiated coverage on Urogen Pharma in a research report on Monday, May 11th. They set a “buy” rating and a $43.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.50.

Urogen Pharma Stock Down 4.2%

The firm’s 50 day simple moving average is $31.28 and its 200 day simple moving average is $24.43. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -14.02 and a beta of 1.56.

Urogen Pharma (NASDAQ:URGN) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.01. The business had revenue of $50.96 million for the quarter, compared to analyst estimates of $44.83 million. Analysts anticipate that Urogen Pharma will post -0.88 EPS for the current fiscal year.

Insider Buying and Selling at Urogen Pharma

In related news, insider Mark Schoenberg sold 10,000 shares of Urogen Pharma stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $40.00, for a total value of $400,000.00. Following the transaction, the insider directly owned 119,763 shares in the company, valued at $4,790,520. The trade was a 7.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 25,222 shares of company stock worth $892,661. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Urogen Pharma by 27.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,275 shares of the company’s stock valued at $53,000 after buying an additional 486 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Urogen Pharma by 1,594.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company’s stock worth $66,000 after buying an additional 3,125 shares in the last quarter. Osaic Holdings Inc. boosted its stake 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 valued at $50,000 after buying an additional 3,070 shares during the period. Tower Research Capital LLC TRC raised its holdings 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 acquiring an additional 5,571 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in Urogen Pharma during the fourth quarter valued at $206,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

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.