In a report released today, Tara Bancroft from TD Cowen maintained a Buy rating on Urogen Pharma, with a price target of $35.00.
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Tara Bancroft’s rating is based on several promising developments at Urogen Pharma. The company is experiencing strong initial demand for its products, which is expected to significantly increase in the fourth quarter and beyond, especially with the introduction of a permanent J code starting January 1. This change is anticipated to reduce the time to enrollment and remittance by half next year, leading to quicker and more substantial revenue growth.
Additionally, the launch of Zusduri is progressing well, with demand increasing despite some operational challenges. The company reported preliminary demand revenue of $4.5 million in October, indicating substantial growth compared to the previous quarter. With 54 unique prescribers and a targeted approach to early launch, Urogen Pharma is poised for continued demand and growth, supporting the Buy rating given by Tara Bancroft.
According to TipRanks, Bancroft is a 4-star analyst with an average return of 16.6% and a 48.45% success rate. Bancroft covers the Healthcare sector, focusing on stocks such as Urogen Pharma, Geron, and Lantheus.
In another report released on October 28, H.C. Wainwright also reiterated a Buy rating on the stock with a $40.00 price target.