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 $44.56.
Gershell wrote:
“2Q net loss per share of $1.14 vs. our $(1.00) est. Rolling NDA review for UGN-101 (MitoGel) for LG UTUC will begin next quarter, and we expect approval and launch into this estimated $500M+ peak sales opportunity by late 2019/early 2020 based on impressive Phase 3 OLYMPUS data. RTGel platform validation for chemoablative treatment and an efficacy signal shown in NMIBC drive our enthusiasm in this bladder cancer setting, and interim Phase 2b data should come early next year. Cash runway appears sufficient thru 2019. While shares have underperformed the NBI by ~38% since May’s AUA presentation, we expect price appreciation as UGN-101 approaches commercialization and incremental value is ascribed to pipeline opportunities. We reiterate our Outperform rating and $75 PT.”
According to TipRanks.com, Gershell is a 1-star analyst with an average return of -9.3% and a 22.2% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Evofem Biosciences Inc, and Catalyst Pharma.
Urogen Pharma Ltd has an analyst consensus of Strong Buy, with a price target consensus of $73.67, representing a 65.3% 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 $69.57 and a one-year low of $17.10. Currently, Urogen Pharma Ltd has an average volume of 109.9K.
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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.
