UroGen Pharma (NASDAQ:URGN) Sees Strong Trading Volume on Analyst Upgrade

UroGen Pharma Ltd. (NASDAQ:URGN) shares saw unusually-strong trading volume on Monday after HC Wainwright upgraded the stock from a neutral rating to a buy rating. HC Wainwright now has a $50.00 price target on the stock. Approximately 2,166,518 shares traded hands during mid-day trading, an increase of 119% from the previous session’s volume of 989,570 shares.The stock last traded at $14.28 and had previously closed at $12.03.

URGN has been the subject of a number of other reports. LADENBURG THALM/SH SH assumed coverage on UroGen Pharma in a research report on Wednesday, February 19th. They issued a “buy” rating and a $31.00 target price for the company. Guggenheim reaffirmed a “buy” rating and set a $30.00 target price (up previously from $15.00) on shares of UroGen Pharma in a research note on Friday. The Goldman Sachs Group decreased their price target on shares of UroGen Pharma from $16.00 to $3.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Scotiabank raised their price objective on shares of UroGen Pharma from $23.00 to $47.00 and gave the stock a “sector outperform” rating in a research note on Friday. Finally, Oppenheimer reduced their price objective on shares of UroGen Pharma from $36.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $32.86.

Insider Activity at UroGen Pharma

In other UroGen Pharma news, insider Mark Schoenberg sold 5,162 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $7.37, for a total value of $38,043.94. Following the sale, the insider now directly owns 153,378 shares of the company’s stock, valued at approximately $1,130,395.86. This trade represents a 3.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in UroGen Pharma in the fourth quarter valued at approximately $1,472,000. Lazard Asset Management LLC purchased a new stake in UroGen Pharma in the fourth quarter valued at approximately $67,000. Janus Henderson Group PLC purchased a new stake in UroGen Pharma in the fourth quarter valued at approximately $149,000. ProShare Advisors LLC purchased a new stake in UroGen Pharma in the fourth quarter valued at approximately $137,000. Finally, Bank of New York Mellon Corp grew its holdings in UroGen Pharma by 7.3% in the fourth quarter. Bank of New York Mellon Corp now owns 93,997 shares of the company’s stock valued at $1,001,000 after purchasing an additional 6,430 shares during the period. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

UroGen Pharma Trading Up 19.2%

The business’s fifty day moving average is $8.63 and its 200-day moving average is $10.05. The stock has a market capitalization of $661.17 million, a PE ratio of -4.55 and a beta of 0.40. The company has a quick ratio of 8.77, a current ratio of 9.00 and a debt-to-equity ratio of 4.77.

UroGen Pharma (NASDAQ:URGN) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.09). The business had revenue of $20.25 million for the quarter, compared to the consensus estimate of $22.71 million. As a group, analysts anticipate that UroGen Pharma Ltd. will post -3.12 EPS for the current fiscal year.

UroGen Pharma Company Profile

UroGen Pharma Ltd., a biotechnology company, engages in the development and commercialization of solutions for urothelial and specialty cancers. It offers RTGel, a novel proprietary polymeric biocompatible, reverse thermal gelation hydrogel technology to improve therapeutic profiles of existing drugs; and Jelmyto for pyelocalyceal solution.