Urogen Pharma (NASDAQ:URGN) Hits New 1-Year High – Time to Buy?

Shares of Urogen Pharma (NASDAQ:URGN) reached a new 52-week high on Tuesday . The company traded as high as $35.35 and last traded at $34.99, with a volume of 624535 shares changing hands. The stock had previously closed at $33.57.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on URGN. HC Wainwright reissued a “buy” rating and issued a $45.00 price target on shares of Urogen Pharma in a report on Wednesday, June 3rd. Jefferies Financial Group raised shares of Urogen Pharma to a “strong-buy” rating in a report on Friday, April 24th. LADENBURG THALM/SH SH initiated coverage on shares of Urogen Pharma in a research note on Monday, May 11th. They issued a “buy” rating and a $43.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Urogen Pharma in a report on Monday, April 20th. Finally, Oppenheimer restated an “outperform” rating on shares of Urogen Pharma in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.50.

Urogen Pharma Stock Performance

The stock has a market cap of $1.70 billion, a P/E ratio of -12.72 and a beta of 1.59. The stock has a 50-day moving average price of $27.40 and a 200-day moving average price of $23.05.

Urogen Pharma (NASDAQ:URGN) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.01. The business had revenue of $50.96 million for the quarter, compared to analysts’ expectations of $44.83 million. Sell-side analysts forecast that Urogen Pharma will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Urogen Pharma news, insider Mark Schoenberg sold 5,222 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $27.30, for a total value of $142,560.60. Following the completion of the transaction, the insider owned 139,763 shares of the company’s stock, valued at $3,815,529.90. The trade was a 3.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Urogen Pharma

A number of hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. grew its position in Urogen Pharma by 491.2% in the second quarter. Osaic Holdings Inc. now owns 3,695 shares of the company’s stock worth $50,000 after acquiring an additional 3,070 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in 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 purchasing an additional 486 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Urogen Pharma by 1,594.4% during the third quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company’s stock worth $66,000 after purchasing an additional 3,125 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in 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 purchasing an additional 5,571 shares during the last quarter. Finally, Nebula Research & Development LLC purchased a new position in shares of Urogen Pharma in the 2nd quarter worth about $162,000. 91.29% of the stock is owned by institutional investors.

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.