H.C. Wainwright Thinks Urogen Pharma Ltd’s Stock is Going to Recover


H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Urogen Pharma Ltd (URGN) today and set a price target of $75. The company’s shares closed on Friday at $36.37, close to its 52-week low of $34.61.

Selvaraju said:

“We believe that these data are highly encouraging, since they clearly indicate that UGN-101 is capable of generating not only initial CRs but longer-term responses, with the vast majority of patients evaluated at the six-month time point remaining disease-free. Among the 71 patients who underwent PDE, 34 were initially characterized by the treating physician as having endoscopically unresectable tumors at baseline, and 20 of 34 of these patients (59%) achieved a CR at the PDE time point. The most common adverse events observed were urinary tract infection, ureteral narrowing and stricture formation. The majority of ureteral events were reported as mild to moderate and have resolved. In our view, the long-term safety profile of UGN-101 also appears highly favorable. We reiterate our Buy rating and 12-month target of $75 per share on URGN.”

According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 0.9% and a 37.2% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

Currently, the analyst consensus on Urogen Pharma Ltd is a Strong Buy with an average price target of $66.25, which is an 82.2% upside from current levels. In a report released today, Stifel Nicolaus also reiterated a Buy rating on the stock with a $63 price target.

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Based on Urogen Pharma Ltd’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $23.72 million. In comparison, last year the company had a GAAP net loss of $13.38 million.

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UroGen Pharma Ltd. is a clinical stage pharmaceutical company, which engages in the provision of non-surgical and localized solutions for urological pathologies to address a clinical unmet need in field of uro-oncology.

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