Urogen Pharma (URGN) Moves 10.3% Higher: Will This Strength Last?
Urogen Pharma (URGN) shares rallied 10.3% in the last trading session to close at $10.65. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 22.4% gain over the past four weeks.
Shares surged after Urogen announced the company announced that the FDA authorized an extension of the in-use period for Jelmyto (mitomycin) for pyelocaliceal solution admixture from eight hours to 96 hours after reconstitution of the product. Jelmyto was approved by the FDA in 2020 for treating adults with low-grade upper tract urothelial cancer (“low-grade UTUC”).
This company is expected to post quarterly loss of $1.22 per share in its upcoming report, which represents a year-over-year change of +9.6%. Revenues are expected to be $20.3 million, up 78.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Urogen Pharma, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on URGN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Urogen Pharma is part of the Zacks Medical - Biomedical and Genetics industry. uniQure (QURE), another stock in the same industry, closed the last trading session 3.6% lower at $18.60. QURE has returned -5.9% in the past month.
For uniQure , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.11. This represents a change of -40.5% from what the company reported a year ago. uniQure currently has a Zacks Rank of #3 (Hold).
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