UroGen Pharma (NASDAQ:URGN) Shares Gap Down on Disappointing Earnings

UroGen Pharma Ltd. (NASDAQ:URGN) gapped down before the market opened on Monday following a weaker than expected earnings announcement. The stock had previously closed at $10.38, but opened at $9.90. UroGen Pharma shares last traded at $11.19, with a volume of 402,553 shares changing hands.

The company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.09). The company had revenue of $20.25 million for the quarter, compared to the consensus estimate of $22.71 million.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. D. Boral Capital reissued a “buy” rating and issued a $25.00 price objective on shares of UroGen Pharma in a research note on Thursday, May 8th. The Goldman Sachs Group dropped their target price on shares of UroGen Pharma from $22.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Guggenheim restated a “buy” rating on shares of UroGen Pharma in a report on Tuesday, April 29th. Scotiabank started coverage on shares of UroGen Pharma in a report on Wednesday, April 16th. They issued a “sector outperform” rating and a $23.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $55.00 target price on shares of UroGen Pharma in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $32.86.

Hedge Funds Weigh In On UroGen Pharma

Institutional investors have recently made changes to their positions in the stock. CWM LLC raised its holdings in shares of UroGen Pharma by 6,047.1% during the first quarter. CWM LLC now owns 5,225 shares of the company’s stock valued at $58,000 after purchasing an additional 5,140 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of UroGen Pharma during the fourth quarter valued at about $59,000. Lazard Asset Management LLC acquired a new stake in shares of UroGen Pharma in the 4th quarter worth about $67,000. GAMMA Investing LLC raised its holdings in shares of UroGen Pharma by 6,908.4% in the 1st quarter. GAMMA Investing LLC now owns 7,499 shares of the company’s stock worth $83,000 after acquiring an additional 7,392 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in shares of UroGen Pharma in the 4th quarter worth about $101,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

UroGen Pharma Stock Down 9.0%

The company has a debt-to-equity ratio of 4.77, a quick ratio of 8.77 and a current ratio of 9.00. The company has a market cap of $467.52 million, a price-to-earnings ratio of -3.22 and a beta of 0.66. The stock’s fifty day moving average is $10.66 and its two-hundred day moving average is $10.96.

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.