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Urogen Pharma
(NASDAQ:URGN)
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Rating:50Neutral
Price Target:
$33.00
▼(-28.82% Downside)
Action:Reiterated
Date:10/09/26
The score is held back primarily by weak financial performance—ongoing losses, heavy cash burn, negative equity, and rising debt. Offsetting factors include a positive earnings-call backdrop with strong ZUSDURI launch traction and improving loss trends, but technicals remain bearish and valuation is hard to anchor due to negative earnings.
Positive Factors
ZUSDURI commercial growth
The launch is converting into substantial commercial scale, with revenue nearly tripling year over year and ZUSDURI growing rapidly. Expanding hospital and community adoption, repeat utilization, and physician confidence can support a broader recurring revenue base over the next several quarters.
Negative Factors
Persistent cash burn
Materially negative operating and free cash flow shows that the business continues to consume substantial capital despite commercial growth. Continued cash burn can constrain investment flexibility, increase reliance on external funding, and delay the point at which growth translates into self-sustaining operations.
Read all positive and negative factors
Positive Factors
Negative Factors
ZUSDURI commercial growth
The launch is converting into substantial commercial scale, with revenue nearly tripling year over year and ZUSDURI growing rapidly. Expanding hospital and community adoption, repeat utilization, and physician confidence can support a broader recurring revenue base over the next several quarters.
Read all positive factors
Urogen Pharma (URGN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.60B
Dividend YieldN/A
Average Volume (3M)964.29K
Price to Earnings (P/E)―
Beta (1Y)1.17
Revenue Growth100.27%
EPS Growth39.90%
CountryUS
Employees300
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.98
Shares Outstanding48,880,566
10 Day Avg. Volume916,493
30 Day Avg. Volume964,289
Financial Highlights & Ratios
PEG Ratio-0.94
Price to Book (P/B)-10.68
Price to Sales (P/S)10.26
P/FCF Ratio-6.92
Enterprise Value/Market Cap1.21
Enterprise Value/Revenue10.28
Enterprise Value/Gross Profit11.32
Enterprise Value/Ebitda-27.68
Forecast
1Y Price Target
$60.20Price Target Upside29.85% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.22
Revenue Forecast (FY)$320.52M
Urogen Pharma Business Overview & Revenue Model
Company Description
UroGen Pharma Ltd., a biotechnology company, engages in the development and commercialization of solutions for urothelial and specialty cancers. It offers RTGel, a novel proprietary polymeric biocompatible, reverse thermal gelation hydrogel techno...
How the Company Makes Money
UroGen primarily makes money from product revenue generated by sales of its FDA-approved therapy JELMYTO (mitomycin) for pyelocalyceal solution. Revenue is recognized from commercial distribution (i.e., selling the product into the healthcare chan...
Urogen Pharma Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call communicated strong positive momentum driven by the ZUSDURI launch (Q2 ZUSDURI revenue of $50.4M, rapid growth in activated accounts and prescribers, durable Phase III durability data, pipeline progress, favorable IP outcomes and materially higher total revenue). Management acknowledged measured near-term risks including continued operating expense increases, quarter-to-quarter variability, remaining net loss (though substantially improved), and early-stage adoption dynamics. They reinforced confidence in cash sufficiency to reach profitability while accelerating investments to support long-term growth.Positive Updates
ZUSDURI Strong Launch Momentum
ZUSDURI generated $50.4 million in net product revenue in Q2 2026, representing a 73% increase over Q1 2026. Adoption expanded across hospitals and community practices with increasing repeat utilization and physician confidence.
Negative Updates
No ZUSDURI Full-Year Revenue Guidance Yet
Management declined to provide full-year ZUSDURI revenue guidance while the launch is still early and expects to consider formal guidance in 2027 after additional demand trends play out.
Read all updates
Q2-2026 Updates
Positive
Negative
ZUSDURI Strong Launch Momentum
ZUSDURI generated $50.4 million in net product revenue in Q2 2026, representing a 73% increase over Q1 2026. Adoption expanded across hospitals and community practices with increasing repeat utilization and physician confidence.
Read all positive updates
Company Guidance
UroGen reiterated 2026 JELMYTO net product revenue guidance of $97–$101 million (≈3–7% growth vs. 2025), said it will not yet provide full‑year ZUSDURI guidance, and raised full‑year operating expense guidance to $260–$270 million (including ~$20–$24 million of noncash share‑based compensation); management confirmed the accelerated commercial and development investments while maintaining confidence that existing capital resources will get the company to and through profitability. In Q2 2026 they reported $72.5 million total revenue (vs. $24.2M in Q2 2025), driven by ZUSDURI net product revenue of $50.4M (up 73% vs. Q1) and JELMYTO revenue of $22.0M (vs. $21.7M in Q1); Q2 operating metrics included R&D $17.3M, SG&A $48.4M, noncash financing expense $4.5M, interest expense $4.9M, and a net loss of $14.4M ($0.28/share), with $108M in cash, cash equivalents and marketable securities as of June 30, 2026.Urogen Pharma Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
22
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 188.73M | 109.79M | 90.40M | 82.71M | 64.36M | 48.04M |
| Gross Profit | 171.46M | 97.34M | 81.52M | 73.35M | 56.70M | 42.88M |
| EBITDA | -70.13M | -135.66M | -94.50M | -60.35M | -76.21M | -107.60M |
| Net Income | -97.64M | -153.49M | -126.87M | -102.24M | -109.78M | -110.82M |
Balance Sheet | ||||||
| Total Assets | 252.59M | 200.46M | 285.71M | 178.31M | 135.62M | 119.75M |
| Cash, Cash Equivalents and Short-Term Investments | 107.97M | 120.46M | 236.69M | 136.97M | 99.96M | 89.14M |
| Total Debt | 196.13M | 128.33M | 123.39M | 99.39M | 99.12M | 398.00K |
| Total Liabilities | 384.99M | 305.93M | 294.51M | 243.52M | 224.98M | 111.33M |
| Stockholders Equity | -132.40M | -105.47M | -8.80M | -65.21M | -89.36M | 8.41M |
Cash Flow | ||||||
| Free Cash Flow | -159.13M | -162.73M | -97.06M | -76.57M | -87.81M | -85.64M |
| Operating Cash Flow | -158.92M | -162.44M | -96.77M | -76.38M | -87.56M | -84.89M |
| Investing Cash Flow | 40.10M | 61.56M | -20.61M | -953.00K | 1.06M | 4.07M |
| Financing Cash Flow | 105.29M | 39.92M | 194.62M | 116.93M | 97.13M | 72.32M |
Urogen Pharma Technical Analysis
Negative
46.36
Price Trends
40.44
Negative
40.16
Negative
31.31
Positive
Market Momentum
-2.11
Positive
26.39
Positive
13.34
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For URGN, the sentiment is Negative. The current price of 46.36 is above the 20-day moving average (MA) of 36.26, above the 50-day MA of 40.44, and above the 200-day MA of 31.31, indicating a neutral trend. The MACD of -2.11 indicates Positive momentum. The RSI at 26.39 is Positive, neither overbought nor oversold. The STOCH value of 13.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for URGN.
Urogen Pharma Risk Analysis
Urogen Pharma disclosed 81 risk factors in its most recent earnings report. Urogen Pharma reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Urogen Pharma Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $538.91M | 19.47 | 20.85% | ― | -2.86% | -46.26% | |
58 Neutral | $912.74M | -3.04 | -207.18% | ― | -7.27% | -48.89% | |
54 Neutral | $1.18B | -3.96 | -467.49% | ― | 3995.74% | 24.87% | |
54 Neutral | $1.68B | -10.96 | -49.73% | ― | 1083.56% | 30.89% | |
52 Neutral | $2.77B | -12.70 | -27.40% | ― | 5.13% | 17.00% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $1.60B | -16.53 | 81.78% | ― | 100.27% | 39.90% |
* Healthcare Sector Average
URGN
Urogen Pharma
32.72
12.25
59.84%
VSTM
Verastem
9.75
0.30
3.17%
PBYI
Puma Biotechnology
10.44
5.34
104.71%
KURA
Kura Oncology
10.26
>-0.01
-0.10%
ZLAB
Zai Lab
22.07
-4.06
-15.54%
NUVB
Nuvation Bio
4.76
-0.46
-8.81%
Urogen Pharma Corporate Events
Business Operations and StrategyPrivate Placements and Financing
UroGen Pharma Expands Oncology Pipeline With SRGel Partnership
Positive
Aug 20, 2026
On August 18, 2026, UroGen Pharma, via its U.S. subsidiary, entered into an Option and Research License Agreement with Israel-based IntraGel Therapeutics to access the SRGel sustained-release hydrogel platform. The deal grants UroGen an exclusive ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.