UroGen Pharma (NASDAQ:URGN) Shares Gap Up After Analyst Upgrade

Shares of UroGen Pharma Ltd. (NASDAQ:URGN) gapped up prior to trading on Friday after Scotiabank raised their price target on the stock from $23.00 to $47.00. The stock had previously closed at $11.08, but opened at $11.96. Scotiabank currently has a sector outperform rating on the stock. UroGen Pharma shares last traded at $11.80, with a volume of 5,429,496 shares changing hands.

Several other analysts have also recently weighed in on the stock. Guggenheim raised their target price on shares of UroGen Pharma from $15.00 to $30.00 and gave the company a “buy” rating in a report on Friday. D. Boral Capital reissued a “buy” rating and set a $25.00 price objective on shares of UroGen Pharma in a report on Thursday. Oppenheimer cut 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. LADENBURG THALM/SH SH started coverage on shares of UroGen Pharma in a research note on Wednesday, February 19th. They set a “buy” rating and a $31.00 price target on the stock. Finally, The Goldman Sachs Group cut their price target on shares of UroGen Pharma from $16.00 to $3.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.71.

Insider Activity

In related news, insider Mark Schoenberg sold 5,162 shares of the business’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 transaction, the insider now owns 153,378 shares in the company, valued at $1,130,395.86. The trade was a 3.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. CWM LLC increased its holdings in shares of UroGen Pharma by 6,047.1% in the first quarter. CWM LLC now owns 5,225 shares of the company’s stock valued at $58,000 after purchasing an additional 5,140 shares during the period. KLP Kapitalforvaltning AS acquired a new position in UroGen Pharma in the 4th quarter valued at $59,000. Lazard Asset Management LLC acquired a new position in UroGen Pharma in the 4th quarter valued at $67,000. GAMMA Investing LLC increased its stake in UroGen Pharma by 6,908.4% in the 1st quarter. GAMMA Investing LLC now owns 7,499 shares of the company’s stock valued at $83,000 after buying an additional 7,392 shares during the period. Finally, Aquatic Capital Management LLC acquired a new position in shares of UroGen Pharma during the fourth quarter worth about $101,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

UroGen Pharma Trading Up 8.6%

The company has a debt-to-equity ratio of 4.77, a current ratio of 9.00 and a quick ratio of 8.77. The business’s 50 day moving average price is $8.54 and its 200-day moving average price is $10.07. The firm has a market capitalization of $554.67 million, a price-to-earnings ratio of -3.82 and a beta of 0.40.

UroGen Pharma (NASDAQ:URGN) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.09). The company had revenue of $20.25 million during the quarter, compared to analysts’ expectations of $22.71 million. Equities analysts forecast that UroGen Pharma Ltd. will post -3.12 EPS for the current fiscal year.

About UroGen Pharma

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.