Urogen Pharma (NASDAQ:URGN) Lowered to Sell at Zacks Investment Research

Urogen Pharma (NASDAQ:URGN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “UroGen Pharma Ltd. is a clinical stage biopharmaceutical company. It focused on developing urological pathologies with a focus on uro-oncology. The company’s product candidates include MitoGel and VesiGel which are in clinical trial stage. Its platform technologies include: RTGel and Immunotherapy. UroGen Pharma Ltd. is based in Ra’anana, Israel. “

URGN has been the topic of a number of other reports. Oppenheimer decreased their target price on Urogen Pharma from $62.00 to $52.00 and set an “outperform” rating on the stock in a research report on Monday. Stifel Nicolaus set a $41.00 target price on Urogen Pharma and gave the stock a “buy” rating in a research report on Sunday, October 20th. National Securities initiated coverage on Urogen Pharma in a research report on Thursday, January 9th. They set a “neutral” rating and a $37.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $75.00 target price on shares of Urogen Pharma in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. decreased their target price on Urogen Pharma from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $48.75.

Shares of NASDAQ:URGN traded up $1.77 during midday trading on Thursday, hitting $34.25. The company’s stock had a trading volume of 71,513 shares, compared to its average volume of 152,214. The stock has a market capitalization of $664.53 million, a price-to-earnings ratio of -7.14 and a beta of 1.33. The stock’s 50 day simple moving average is $32.72 and its 200 day simple moving average is $30.28. Urogen Pharma has a fifty-two week low of $20.72 and a fifty-two week high of $55.13.

Urogen Pharma (NASDAQ:URGN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.26) by $0.20. Analysts forecast that Urogen Pharma will post -4.96 EPS for the current fiscal year.

In other Urogen Pharma news, CEO Elizabeth A. Barrett bought 7,470 shares of the stock in a transaction on Wednesday, November 20th. The stock was purchased at an average price of $28.00 per share, with a total value of $209,160.00. Following the acquisition, the chief executive officer now owns 9,018 shares of the company’s stock, valued at $252,504. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark Schoenberg bought 1,960 shares of the stock in a transaction on Tuesday, November 19th. The shares were acquired at an average cost of $28.17 per share, with a total value of $55,213.20. The disclosure for this purchase can be found here. Insiders purchased a total of 10,978 shares of company stock valued at $304,621 in the last 90 days. 10.50% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Urogen Pharma by 216.8% in the 2nd quarter. BlackRock Inc. now owns 1,338,553 shares of the company’s stock worth $48,107,000 after purchasing an additional 915,970 shares during the period. Wildcat Capital Management LLC grew its stake in Urogen Pharma by 25.2% in the 3rd quarter. Wildcat Capital Management LLC now owns 1,056,062 shares of the company’s stock valued at $25,166,000 after buying an additional 212,697 shares during the last quarter. Phoenix Holdings Ltd. acquired a new position in Urogen Pharma in the 3rd quarter valued at about $15,475,000. FMR LLC grew its stake in Urogen Pharma by 5.8% in the 1st quarter. FMR LLC now owns 588,203 shares of the company’s stock valued at $21,728,000 after buying an additional 32,200 shares during the last quarter. Finally, State Street Corp grew its stake in Urogen Pharma by 6.2% in the 3rd quarter. State Street Corp now owns 387,829 shares of the company’s stock valued at $9,242,000 after buying an additional 22,687 shares during the last quarter. 69.64% of the stock is owned by institutional investors.

About Urogen Pharma

UroGen Pharma Ltd., a clinical stage biopharmaceutical company, focuses on developing novel therapies for urological pathologies. The company's lead product candidates, UGN-101 and UGN-102 are proprietary formulations of the chemotherapy drug mitomycin, a generic drug, which is currently used off-label for urothelial cancer treatment in a water-based formulation as an adjuvant or supplemental in post-surgery therapy.

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