Urogen Pharma’s (URGN) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Urogen Pharma (NASDAQ:URGN) in a research report released on Monday morning, Marketbeat Ratings reports. HC Wainwright currently has a $75.00 price objective on the stock.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group restated a “buy” rating and issued a $56.00 price target on shares of Urogen Pharma in a report on Thursday, September 10th. Guggenheim upped their price objective on shares of Urogen Pharma from $42.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Urogen Pharma in a report on Thursday, October 15th. TD Cowen increased their price objective on shares of Urogen Pharma from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $44.00 target price on shares of Urogen Pharma in a research report on Wednesday, July 15th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $52.38.

Urogen Pharma Stock Up 1.3%

Shares of NASDAQ:URGN opened at $35.48 on Monday. Urogen Pharma has a 52 week low of $16.50 and a 52 week high of $50.81. The business has a fifty day simple moving average of $42.40 and a 200-day simple moving average of $35.74.

Urogen Pharma (NASDAQ:URGN) last released its earnings results on Wednesday, August 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The company had revenue of $72.46 million during the quarter, compared to analysts’ expectations of $63.55 million. On average, equities analysts forecast that Urogen Pharma will post -0.20 EPS for the current fiscal year.

Insider Transactions at Urogen Pharma

In other news, 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 completion of the sale, the general counsel directly owned 53,141 shares in the company, valued at $2,260,618.14. This represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark Schoenberg sold 871 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $42.92, for a total value of $37,383.32. Following the completion of the transaction, the insider directly owned 59,882 shares in the company, valued at $2,570,135.44. This trade represents a 1.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 65,269 shares of company stock worth $3,037,646 in the last ninety days. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Urogen Pharma

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Urogen Pharma during the second quarter worth about $117,814,000. Jefferies Financial Group Inc. purchased a new position in shares of Urogen Pharma in the 2nd quarter worth about $80,947,000. Opaleye Management Inc. raised its holdings in shares of Urogen Pharma by 0.7% in the 2nd quarter. Opaleye Management Inc. now owns 1,439,996 shares of the company’s stock worth $52,992,000 after purchasing an additional 9,996 shares during the period. SG Americas Securities LLC raised its holdings in shares of Urogen Pharma by 20.3% in the 1st quarter. SG Americas Securities LLC now owns 1,657,846 shares of the company’s stock worth $29,808,000 after purchasing an additional 280,199 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of Urogen Pharma in the 2nd quarter valued at about $17,506,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.

About Urogen Pharma

UroGen Pharma Ltd. (NASDAQ: URGN) is a biopharmaceutical company focused on developing and commercializing treatments for cancers of the urinary tract. The company’s therapies are designed to deliver medicines directly to the affected area, with the goal of improving drug exposure while limiting systemic side effects.

UroGen’s primary commercial product is Jelmyto, a mitomycin-based treatment approved in the United States for adults with low-grade upper tract urothelial cancer. Jelmyto uses UroGen’s proprietary RTGel technology, which forms a gel in the urinary tract and enables the sustained local release of mitomycin.

The company has also developed UGN-102, an investigational mitomycin-based reverse thermal gel intended for the treatment of low-grade, intermediate-risk non-muscle-invasive bladder cancer.