UroGen Pharma price target raised to $31 from $10 at Oppenheimer

Oppenheimer analyst Leland Gershell raised the firm’s price target on UroGen Pharma (URGN) to $31 from $10 and keeps an Outperform rating on the shares following yesterday’s approval of Zusduri. The firm says key reveal on this morning’s conference call was the $21,500 per-dose list price. Oppenheimer awaits clarity on the approval path for UGN-103, which is needed to extend franchise exclusivity beyond early 2031, but notes management does not expect the potential need for a randomized controlled trial in lieu of the recently-initiated single-arm study to materially alter its financial outlook. The analyst sees $1B in sales over time and would would take advantage of any near-term weakness to buy UroGen shares.