Oppenheimer Believes Urogen Pharma Ltd (URGN) Still Has Room to Grow

Oppenheimer analyst Leland Gershell reiterated a Buy rating on Urogen Pharma Ltd (NASDAQ: URGN) yesterday and set a price target of $75. The company’s shares closed yesterday at $60.14, close to its 52-week high of $66.38.

Gershell said:

“URGN reported 1Q18 financial results and provided a business update, and we adjust our model accordingly. We look forward to this coming Monday’s (5/21) presentation of the interim analysis from the pivotal OLYMPUS trial at the AUA meeting, which we expect will continue to support MitoGel’s prospects to change the treatment paradigm for upper tract urothelial carcinoma (UTUC) following the impressive look previously provided in the meeting abstract. We reiterate our Outperform rating heading into next week’s data, and believe that continued validation of URGN’s RTgel platform will de- risk additional product opportunities.”

Currently, the analyst consensus on Urogen Pharma Ltd is Strong Buy and the average price target is $68, representing a 13.1% upside.

In a report released yesterday, Cowen & Co. also maintained a Buy rating on the stock.

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The company has a one-year high of $66.38 and a one-year low of $14.52. Currently, Urogen Pharma Ltd has an average volume of 124K.

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UroGen Pharma Ltd. operates as a clinical stage pharmaceutical company. The firm provides non-surgical and localized solutions for urological pathologies to address a clinical unmet need in field of uro-oncology.