Oppenheimer Sticks to Their Buy Rating for Urogen Pharma Ltd

Oppenheimer analyst Leland Gershell reiterated a Buy rating on Urogen Pharma Ltd (NASDAQ: URGN) today and set a price target of $75. The company’s shares closed yesterday at $62.86, close to its 52-week high of $69.57.

Gershell observed:

“As presented at an AUA plenary session yesterday, the interim analysis of URGN’s pivotal Phase 3 OLYMPUS trial demonstrated a 59% CR rate in low-grade UTUC. Just as impressive were data on response durability, which showed that each patient who achieved a CR remained as such out to their longest follow-up visit as of the data cut (as long as nine months per the interim look). Most AEs were mild-moderate and transient, and tolerability was not concerning according to urologists we spoke with at the conference. We view the interim data as highly positive, reinforcing our conviction that MitoGel represents a significant paradigm shift in the treatment of UTUC. Reiterate Outperform.”

Gershell has an average return of 4.5% when recommending Urogen Pharma Ltd.

According to TipRanks.com, Gershell is ranked #3361 out of 4801 analysts.

Currently, the analyst consensus on Urogen Pharma Ltd is Strong Buy and the average price target is $68, representing an 8.2% upside.

In a report issued on May 15, Cowen & Co. also maintained a Buy rating on the stock.

See today’s analyst top recommended stocks >>

The company has a one-year high of $69.57 and a one-year low of $14.52. Currently, Urogen Pharma Ltd has an average volume of 124.5K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.