Urogen Pharma (NASDAQ:URGN) Shares Gap Up – Here’s Why

Urogen Pharma (NASDAQ:URGN) shares gapped up before the market opened on Friday . The stock had previously closed at $20.53, but opened at $21.40. Urogen Pharma shares last traded at $20.9650, with a volume of 93,817 shares.

Wall Street Analysts Forecast Growth

URGN has been the subject of several recent analyst reports. D. Boral Capital reaffirmed a “buy” rating and set a $33.00 price objective on shares of Urogen Pharma in a research report on Tuesday, March 31st. Jefferies Financial Group initiated coverage on shares of Urogen Pharma in a research report on Friday. They set a “buy” rating and a $40.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Urogen Pharma in a research report on Wednesday, January 21st. Finally, Oppenheimer reissued an “outperform” rating on shares of Urogen Pharma in a report on Monday, March 2nd. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.13.

Urogen Pharma Price Performance

The business’s fifty day moving average price is $19.63 and its 200 day moving average price is $20.80. The stock has a market cap of $1.05 billion, a P/E ratio of -6.74 and a beta of 1.43.

Urogen Pharma (NASDAQ:URGN) last released 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 firm had revenue of $37.84 million during the quarter, compared to analyst estimates of $39.92 million. On average, analysts predict that Urogen Pharma will post -3.12 earnings per share for the current fiscal year.

Insider Activity at Urogen Pharma

In other news, General Counsel Jason Drew Smith sold 7,479 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $19.69, for a total transaction of $147,261.51. Following the completion of the sale, the general counsel owned 51,326 shares of the company’s stock, valued at $1,010,608.94. This trade represents a 12.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark Schoenberg sold 7,373 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $19.69, for a total transaction of $145,174.37. Following the sale, the insider directly owned 144,985 shares of the company’s stock, valued at approximately $2,854,754.65. This trade represents a 4.84% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Urogen Pharma

A number of hedge funds have recently made changes to their positions in the business. Paradigm Biocapital Advisors LP raised its stake in shares of Urogen Pharma by 6.1% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,473,648 shares of the company’s stock worth $104,773,000 after purchasing an additional 257,564 shares during the period. Morgan Stanley grew its holdings in Urogen Pharma by 1.4% during the 4th quarter. Morgan Stanley now owns 2,562,901 shares of the company’s stock valued at $60,023,000 after buying an additional 34,455 shares in the last quarter. Soleus Capital Management L.P. purchased a new position in Urogen Pharma during the 2nd quarter valued at about $29,934,000. SG Americas Securities LLC grew its holdings in Urogen Pharma by 19.0% during the 4th quarter. SG Americas Securities LLC now owns 1,377,647 shares of the company’s stock valued at $32,264,000 after buying an additional 220,264 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Urogen Pharma during the fourth quarter worth about $26,350,000. 91.29% of the stock is currently owned by institutional investors.

About Urogen Pharma

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.