Urogen Pharma (NASDAQ:URGN) Hits New 12-Month High – Still a Buy?

Urogen Pharma (NASDAQ:URGN)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $27.98 and last traded at $27.69, with a volume of 652962 shares changing hands. The stock had previously closed at $26.93.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $40.00 price objective on shares of Urogen Pharma in a research note on Monday, October 27th. Wall Street Zen upgraded shares of Urogen Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Piper Sandler initiated coverage on shares of Urogen Pharma in a research note on Monday, August 18th. They issued an “overweight” rating and a $36.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Urogen Pharma in a research report on Wednesday, October 8th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $25.00 target price on shares of Urogen Pharma in a report on Monday, October 27th. Seven 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Urogen Pharma Stock Performance

The company’s fifty day moving average price is $20.44 and its 200-day moving average price is $16.53. The stock has a market cap of $1.38 billion, a P/E ratio of -8.50 and a beta of 1.06.

Urogen Pharma (NASDAQ:URGN) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.03. The company had revenue of $27.48 million for the quarter, compared to the consensus estimate of $34.09 million. Urogen Pharma had a negative net margin of 170.59% and a negative return on equity of 97,487.15%. Analysts anticipate that Urogen Pharma will post -3.12 earnings per share for the current fiscal year.

Insider Activity at Urogen Pharma

In related news, CFO Chris Degnan sold 2,203 shares of Urogen Pharma stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $16.85, for a total value of $37,120.55. Following the completion of the sale, the chief financial officer directly owned 2,280 shares in the company, valued at $38,418. The trade was a 49.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Jason Drew Smith sold 1,520 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $19.11, for a total transaction of $29,047.20. Following the completion of the sale, the general counsel owned 43,305 shares of the company’s stock, valued at approximately $827,558.55. This represents a 3.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 14,594 shares of company stock worth $332,813. Company insiders own 4.70% of the company’s stock.

Institutional Trading of Urogen Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Paradigm Biocapital Advisors LP bought a new position in shares of Urogen Pharma in the 3rd quarter worth $84,111,000. RA Capital Management L.P. purchased a new position in Urogen Pharma in the first quarter valued at about $35,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in 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. Soleus Capital Management L.P. bought a new position in Urogen Pharma in the second quarter worth about $29,934,000. Finally, SG Americas Securities LLC lifted its position in shares of Urogen Pharma by 607.1% during the second quarter. SG Americas Securities LLC now owns 1,149,081 shares of the company’s stock valued at $15,742,000 after buying an additional 986,567 shares during the last quarter. Institutional investors own 91.29% of the company’s stock.

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.