Urogen Pharma (NASDAQ:URGN) Shares Down 9.9% – What’s Next?

Urogen Pharma (NASDAQ:URGN) shares dropped 9.9% during mid-day trading on Thursday. The stock traded as low as $38.60 and last traded at $36.67. 93,420 shares traded hands during trading, a decline of 88% from the average session volume of 799,128 shares. The stock had previously closed at $40.70.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $44.00 price objective on shares of Urogen Pharma in a research report on Wednesday, July 15th. Guggenheim boosted their target price on shares of Urogen Pharma from $42.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. UBS Group reiterated a “buy” rating on shares of Urogen Pharma in a research report on Thursday, July 9th. Jefferies Financial Group reissued a “buy” rating and issued a $56.00 price objective on shares of Urogen Pharma in a research note on Thursday, September 10th. Finally, 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. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.38.

Urogen Pharma Stock Down 0.4%

The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -18.60 and a beta of 1.57. The company has a 50 day simple moving average of $43.82 and a 200 day simple moving average of $34.59.

Urogen Pharma (NASDAQ:URGN) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The firm had revenue of $72.46 million for the quarter, compared to the consensus estimate of $63.55 million. As a group, analysts predict that Urogen Pharma will post -0.20 earnings per share for the current fiscal year.

Insider Buying and Selling at Urogen Pharma

In other Urogen Pharma news, CFO Chris Degnan sold 2,202 shares of the business’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $36.69, for a total transaction of $80,791.38. Following the sale, the chief financial officer owned 4,561 shares of the company’s stock, valued at approximately $167,343.09. The trade was a 32.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Jason Smith sold 1,519 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $42.54, for a total transaction of $64,618.26. Following the transaction, the general counsel owned 53,141 shares of the company’s stock, valued at $2,260,618.14. This trade represents a 2.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,269 shares of company stock worth $3,037,646 over the last quarter. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Urogen Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Urogen Pharma during the 2nd quarter worth approximately $117,814,000. Jefferies Financial Group Inc. bought a new stake in shares of Urogen Pharma in the second quarter worth $80,947,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Urogen Pharma in the fourth quarter valued at $26,350,000. Bank of America Corp DE acquired a new stake in Urogen Pharma in the second quarter valued at $17,506,000. Finally, Rice Hall James & Associates LLC bought a new position in Urogen Pharma during the 2nd quarter worth $11,064,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

About Urogen Pharma

UroGen Pharma Ltd. is a biopharmaceutical company focused on developing and commercializing therapies for cancers of the urinary tract. The company’s platform is based on RTGel, a proprietary reverse-thermal hydrogel designed to retain medicines in the urinary tract and provide localized treatment while limiting systemic exposure.

UroGen’s lead commercial product is JELMYTO (mitomycin), a gel-based therapy approved by the U.S. Food and Drug Administration for the primary chemoablation of low-grade upper tract urothelial cancer in adults.