Urogen Pharma Shares Pop After Bull Note

URGN has taken back its 80-day moving average

by Josh Selway

Published on Nov 8, 2018 at 10:56 AM

Urogen Pharma Ltd (NASDAQ:URGN) is trading up 4.5% at $48.49, after Jefferies boosted its price target on the urology expert to $77 -- territory never before explored, and nearly 60% above current levels. URGN shares traded as high as $69.57 back in late May, and has struggled to regain the momentum it had early in the year. Of course, the security still boasts a 30% year-to-date lead, and has made a notable move above previous resistance from the 80-day moving average.

urgn stock price

Analysts are certainly hopeful. All six of those covering URGN have "buy" or "strong buy" ratings, and the average 12-month price target among them is $73.40. The stock will have a chance to live up to these bullish expectations soon, with the company scheduled to report earnings before the open this Monday, Nov. 12.

On the other hand, some traders have started shorting Urogen Pharma. Short interest rose by 11.7% in the last two reporting periods, and the 410,000 shares now sold short represents 7.4 times the average daily trading volume. As such, there is potential for short covering tailwinds for the equity.

Don't Sweat the Square Stock Pullback
SQ has still more than doubled in 2018 despite recent struggles
Apple Supplier Stock On Sale
Pullbacks to the 320-day have been buy signals in the past
JD Stock Aims to End Earnings Slump
JD shares are hovering above recent lows ahead of earnings
From Schaeffer's Pro Traders
Weekly Options Secrets Revealed

Direct from our Schaeffer's traders, your FREE guide to winning with weekly options!


Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Shortcut to Earnings Season Profits
A free tool can help traders bank big this earnings season.
FAANG Exec Hits the Exits; Acadia Healthcare Sinks on Buyout Buzzkill
Plus, an FDA nod has SGEN shares higher
Oil Sets New Record as Stocks Slip
Several Apple suppliers offered up weak forecasts
The Shortcut to Earnings Season Profits
A free tool can help traders bank big this earnings season.