H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Urogen Pharma (URGN – Research Report) today and set a price target of $64.00.
Ram Selvaraju has given his Buy rating due to a combination of factors including Urogen Pharma’s recent strategic moves and promising pipeline developments. The company has expanded its oncology pipeline by acquiring ICVB-1042, a next-generation oncolytic virus candidate from IconOVir Bio, which is expected to enhance their treatment offerings for bladder cancer. This acquisition, along with strategic research collaborations to leverage their RTGel™ technology, positions Urogen Pharma to potentially improve the clinical effectiveness of multiple immunotherapies.
Additionally, the terms of the acquisition appear financially favorable, involving modest equity dilution and low long-term financial commitments. The potential market size for UGN-102, another candidate in Urogen’s pipeline, is significant, with the FDA’s decision on its New Drug Application being a crucial upcoming milestone. These factors collectively contribute to Selvaraju’s optimistic outlook and Buy rating for Urogen Pharma, with a 12-month price target set at $64 per share.
According to TipRanks, Selvaraju is a 4-star analyst with an average return of 3.6% and a 38.08% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Vanda, and Anavex Life Sciences.
In another report released on February 19, Ladenburg Thalmann & Co. also maintained a Buy rating on the stock with a $31.00 price target.