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

Urogen Pharma (NASDAQ:URGN)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $47.84 and last traded at $46.43, with a volume of 2480596 shares. The stock had previously closed at $39.92.

Wall Street Analyst Weigh In

URGN has been the subject of several recent research reports. The Goldman Sachs Group restated a “neutral” rating and set a $44.00 target price on shares of Urogen Pharma in a research report on Wednesday, July 15th. TD Cowen increased their price target on shares of Urogen Pharma from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group reiterated a “buy” rating on shares of Urogen Pharma in a research note on Thursday, July 9th. Oppenheimer boosted their price objective on shares of Urogen Pharma from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Finally, Jefferies Financial Group upgraded Urogen Pharma to a “strong-buy” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.67.

Urogen Pharma Stock Performance

The stock has a market capitalization of $2.26 billion, a PE ratio of -16.88 and a beta of 1.57. The stock has a 50-day moving average price of $35.73 and a two-hundred day moving average price of $26.80.

Urogen Pharma (NASDAQ:URGN) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The company had revenue of $72.46 million during the quarter, compared to the consensus estimate of $63.55 million. As a group, equities analysts predict that Urogen Pharma will post -0.76 earnings per share for the current year.

Insiders Place Their Bets

In other Urogen Pharma news, insider Mark Schoenberg sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $40.00, for a total value of $400,000.00. Following the completion of the transaction, the insider directly owned 119,763 shares in the company, valued at $4,790,520. This represents a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,222 shares of company stock worth $892,661 over the last quarter. 4.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of URGN. Mirae Asset Global Investments Co. Ltd. lifted 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 worth $53,000 after buying an additional 486 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Urogen Pharma by 7.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,320 shares of the company’s stock valued at $258,000 after acquiring an additional 1,653 shares in the last quarter. Main Street Financial Solutions LLC increased its holdings in Urogen Pharma by 8.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 25,968 shares of the company’s stock valued at $356,000 after acquiring an additional 1,968 shares during the last quarter. Barclays PLC increased its holdings 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 during the last quarter. Finally, Osaic Holdings Inc. increased its holdings 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 during the last quarter. Hedge funds and other institutional investors 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.