After H.C. Wainwright and Cowen & Co. gave Urogen Pharma Ltd (NASDAQ: URGN) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Leland Gershell reiterated a Buy rating on Urogen Pharma Ltd today and set a price target of $70. The company’s shares opened today at $38, close to its 52-week low of $34.61.
Gershell wrote:
“1Q net loss of $21.4M came in less than our $24.6M estimate. UGN-101’s rolling NDA for LG UTUC continues toward completion, pending 6-mo durability data from ≥75% of pts. We expect a 1H20 launch into this initial $500M+ peak sales opportunity. Later this year, we anticipate a first look from UGN-102’s Phase 2b trial in LG NMIBC as well as data from BotuGel’s POC trial in OAB (w/partner AGN). We reiterate our Outperform rating.”
According to TipRanks.com, Gershell is a 4-star analyst with an average return of 13.5% and a 58.6% success rate. Gershell covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Anchiano Therapeutics Ltd, and Miragen Therapeutics Inc.
Currently, the analyst consensus on Urogen Pharma Ltd is a Strong Buy with an average price target of $66.25, representing a 74.3% upside. In a report issued on May 6, Cowen & Co. also maintained a Buy rating on the stock.
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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.
