Urogen Pharma (NASDAQ:URGN) Sets New 52-Week High – Should You Buy?

Urogen Pharma (NASDAQ:URGN)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $41.92 and last traded at $41.12, with a volume of 550404 shares changing hands. The stock had previously closed at $40.23.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group reissued a “buy” rating on shares of Urogen Pharma in a research report on Thursday, July 9th. Oppenheimer boosted their target price on shares of Urogen Pharma from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday. LADENBURG THALM/SH SH began coverage on shares of Urogen Pharma in a research note on Monday, May 11th. They set a “buy” rating and a $43.00 target price for the company. HC Wainwright reissued a “buy” rating on shares of Urogen Pharma in a report on Thursday, July 9th. Finally, Jefferies Financial Group upgraded shares of Urogen Pharma to a “strong-buy” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.57.

Urogen Pharma Stock Performance

The stock has a 50-day simple moving average of $32.85 and a 200 day simple moving average of $25.14. The company has a market cap of $2.00 billion, a P/E ratio of -14.95 and a beta of 1.56.

Urogen Pharma (NASDAQ:URGN) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.01. The firm had revenue of $50.96 million for the quarter, compared to analyst estimates of $44.83 million. Sell-side analysts anticipate that Urogen Pharma will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Urogen Pharma news, insider Mark Schoenberg sold 10,000 shares of Urogen Pharma stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. Following the sale, the insider owned 119,763 shares in the company, valued at $4,790,520. The trade was a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,222 shares of company stock valued at $892,661 over the last three months. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Urogen Pharma

A number of hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Urogen Pharma by 27.2% in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Urogen Pharma by 7.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,320 shares of the company’s stock worth $258,000 after acquiring an additional 1,653 shares during the last quarter. Main Street Financial Solutions LLC grew its holdings in Urogen Pharma by 8.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 25,968 shares of the company’s stock worth $356,000 after acquiring an additional 1,968 shares during the last quarter. Barclays PLC increased its position in Urogen Pharma by 3.8% in the 4th quarter. Barclays PLC now owns 57,744 shares of the company’s stock valued at $1,352,000 after acquiring an additional 2,125 shares in the last quarter. Finally, Osaic Holdings Inc. increased its position in Urogen Pharma by 491.2% in the 2nd quarter. Osaic Holdings Inc. now owns 3,695 shares of the company’s stock valued at $50,000 after acquiring an additional 3,070 shares in the last quarter. 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.