UroGen Pharma price target raised to $52 from $47 at Ladenburg

Ladenburg raised the firm’s price target on UroGen Pharma to $52 from $47 and keeps a Buy rating on the shares after “strong” topline data that showed a three-month complete response rate of 79.2% in the Phase 3 ENVISION trial of UGN-102. In addition, the Phase 3 ATLAS data show a 55% reduction of risk of recurrence, progression or death with UGN-102 versus trans urethral resection of bladder tumor, the analyst added, noting that the firm’s higher price target is based on the increased probability of success for UGN-102 and accounts for the recent $120M private placement and associated share dilution.