Stifel Nicolaus Keeps a Buy Rating on Urogen Pharma Ltd (URGN)

By Ryan Adsit

Stifel Nicolaus analyst Derek Archila reiterated a Buy rating on Urogen Pharma Ltd (URGNResearch Report) yesterday and set a price target of $61. The company’s shares closed last Monday at $32.65, close to its 52-week low of $29.73.

Archila observed:

“We are reiterating our Buy rating after URGN’s investor day as we came away more bullish on UGN-101 as a treatment for LG-UTUC based on commentary from the physician panel which we believe did a good job addressing many of the investor concerns we hear. Additionally, URGN also reported encouraging results for UGN-102 in LG-NMIBC. While we concede LG-UTUC is a small market, we think investors are meaningfully discounting UGN-101’s commercial potential in the face of the clear unmet need for a non-surgical, kidney sparing treatment which was highlighted by the panel. UGN-101 has a high probability of approval, in our view, though we think shares could be range bound until approval/ launch, likely in 1H20.”

According to TipRanks.com, Archila ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.3% and a 28.4% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Madrigal Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.

Urogen Pharma Ltd has an analyst consensus of Strong Buy, with a price target consensus of $60.33, representing a 79.9% upside. In a report released yesterday, Cowen & Co. also assigned a Buy rating to the stock.

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The company has a one-year high of $55.49 and a one-year low of $29.73. Currently, Urogen Pharma Ltd has an average volume of 239.3K.

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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.