Oppenheimer lowered the firm’s price target on UroGen Pharma to $34 from $35 and keeps an Outperform rating on the shares. UroGen’s Q4 Jelmyto sales of $23.5M topped consensus estimates, though the company provided 2024 sales guidance of $95M-$102M, which underwhelmed the Street’s $108M estimate, the analyst tells investors in a research note. The firm expects the shares to outperform as focus continues to shift toward UGN-102 from Jelmyto, and would take advantage of the recent selloff.
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