Urogen Pharma Ltd (URGN) Receives a Buy from Oppenheimer

By Carrie Williams

In a report released today, Leland Gershell from Oppenheimer maintained a Buy rating on Urogen Pharma Ltd (URGNResearch Report), with a price target of $75. The company’s shares closed yesterday at $51.35.

Gershell noted:

“Significant update from UGN-101’s OLYMPUS trial continues to provide clear support for approval in low-grade UTUC, and tracks to prior readouts. URGN began the rolling NDA process in December, and will supplement the filing as remaining evaluations are completed. Final data may be presented at May’s AUA meeting. We expect UGN-101 to be approved in 4Q19 and to serve a $500M+ peak sales opportunity.”

According to TipRanks.com, Gershell is a 1-star analyst with an average return of -6.8% and a 40.0% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Evofem Biosciences Inc, and AzurRx BioPharma Inc.

Currently, the analyst consensus on Urogen Pharma Ltd is a Strong Buy with an average price target of $73.50, which is a 43.1% upside from current levels. In a report released yesterday, 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 September 30, the company reported a quarterly GAAP net loss of $20.53 million. In comparison, last year the company had a GAAP net loss of $10.07 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.