Jefferies Financial Group Begins Coverage on Urogen Pharma (NASDAQ:URGN)

Equities researchers at Jefferies Financial Group started coverage on shares of Urogen Pharma (NASDAQ:URGN) in a research report issued to clients and investors on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. Jefferies Financial Group’s price target points to a potential upside of 85.37% from the company’s previous close.

Several other brokerages have also recently issued reports on URGN. D. Boral Capital reaffirmed a “buy” rating and set a $33.00 price objective on shares of Urogen Pharma in a research note on Tuesday, March 31st. Oppenheimer reaffirmed an “outperform” rating on shares of Urogen Pharma in a research note on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Urogen Pharma in a research note on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Urogen Pharma presently has an average rating of “Moderate Buy” and a consensus target price of $34.13.

Urogen Pharma Trading Up 5.1%

Shares of NASDAQ URGN opened at $21.58 on Friday. Urogen Pharma has a 12-month low of $3.42 and a 12-month high of $30.00. The stock has a market cap of $1.05 billion, a PE ratio of -6.74 and a beta of 1.43. The company has a 50-day moving average of $19.63 and a 200 day moving average of $20.80.

Urogen Pharma (NASDAQ:URGN) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.12. The business had revenue of $37.84 million for the quarter, compared to analysts’ expectations of $39.92 million. On average, sell-side analysts forecast that Urogen Pharma will post -3.12 EPS for the current fiscal year.

Insider Activity

In other Urogen Pharma news, General Counsel Jason Drew Smith sold 7,479 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $19.69, for a total value of $147,261.51. Following the transaction, the general counsel directly owned 51,326 shares in the company, valued at $1,010,608.94. The trade was a 12.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark Schoenberg sold 7,373 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $19.69, for a total transaction of $145,174.37. Following the completion of the transaction, the insider owned 144,985 shares in the company, valued at $2,854,754.65. The trade was a 4.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Urogen Pharma

Several institutional investors and hedge funds have recently bought and sold shares of URGN. Osaic Holdings Inc. boosted its holdings in Urogen Pharma by 491.2% in the 2nd quarter. Osaic Holdings Inc. now owns 3,695 shares of the company’s stock valued at $50,000 after purchasing an additional 3,070 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Urogen Pharma by 27.2% in the 4th 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 during the last quarter. State of Wyoming acquired a new position in Urogen Pharma in the 3rd quarter valued at about $66,000. Russell Investments Group Ltd. boosted its holdings in Urogen Pharma by 1,594.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company’s stock valued at $66,000 after purchasing an additional 3,125 shares during the last quarter. Finally, Strs Ohio acquired a new position in Urogen Pharma in the 3rd quarter valued at about $76,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Urogen Pharma Company Profile

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.