Urogen Pharma (NASDAQ:URGN) Stock Price Down 14.4% After Earnings Miss

Urogen Pharma (NASDAQ:URGN)’s stock price fell 14.4% during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $18.59 and last traded at $17.12. 366,073 shares changed hands during trading, a decline of 77% from the average session volume of 1,583,408 shares. The stock had previously closed at $20.01.

The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.20). Urogen Pharma had a negative net margin of 150.68% and a negative return on equity of 97,487.15%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on URGN. Guggenheim reissued a “buy” rating and set a $30.00 price target (up from $15.00) on shares of Urogen Pharma in a research report on Friday, June 13th. Oppenheimer set a $31.00 price objective on shares of Urogen Pharma and gave the stock a “buy” rating in a report on Friday, June 13th. The Goldman Sachs Group set a $16.00 price objective on shares of Urogen Pharma and gave the stock a “neutral” rating in a report on Friday, June 13th. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Urogen Pharma in a report on Tuesday, July 8th. Finally, D. Boral Capital restated a “buy” rating and set a $25.00 price objective on shares of Urogen Pharma in a report on Tuesday. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $32.86.

Insider Activity

In other news, General Counsel Jason Drew Smith sold 7,522 shares of Urogen Pharma stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $19.14, for a total value of $143,971.08. Following the completion of the transaction, the general counsel owned 41,492 shares in the company, valued at $794,156.88. This trade represents a 15.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Schoenberg sold 5,162 shares of Urogen Pharma stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $7.37, for a total transaction of $38,043.94. Following the completion of the transaction, the insider owned 153,378 shares of the company’s stock, valued at $1,130,395.86. The trade was a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,833 shares of company stock valued at $280,567 in the last quarter. Corporate insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Urogen Pharma

Several large investors have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Urogen Pharma by 216.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,360,524 shares of the company’s stock worth $48,227,000 after purchasing an additional 2,983,368 shares in the last quarter. RTW Investments LP increased its stake in shares of Urogen Pharma by 1.3% in the fourth quarter. RTW Investments LP now owns 3,834,794 shares of the company’s stock worth $40,841,000 after purchasing an additional 47,447 shares in the last quarter. RA Capital Management L.P. purchased a new position in shares of Urogen Pharma in the first quarter worth about $35,461,000. Vestal Point Capital LP increased its stake in shares of Urogen Pharma by 32.1% in the first quarter. Vestal Point Capital LP now owns 2,152,957 shares of the company’s stock worth $23,812,000 after purchasing an additional 522,957 shares in the last quarter. Finally, Toronto Dominion Bank bought a new position in shares of Urogen Pharma in the fourth quarter valued at approximately $18,628,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Urogen Pharma Stock Down 7.1%

The business’s 50-day moving average price is $13.78 and its 200 day moving average price is $11.28. The company has a market capitalization of $858.86 million, a P/E ratio of -5.85 and a beta of 1.12.

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.