UroGen Raises Price Target to $39 After Q1 Sales Double to $29.2M
UroGen Pharma raised its 12-month price target to $39 and reaffirmed a Buy after Q1 2026 results showed Zusduri sales doubled quarter-over-quarter to $29.2 million driven by January J-code assignment. UroGen will present one-on-one at Bank of America on May 13, HC Wainwright on May 19 and TD Cowen on May 26.
1. Price Target Reaffirmed
UroGen Pharma reaffirmed its Buy rating and raised its 12-month price target to $39 based on stronger-than-expected first-quarter metrics and accelerated market adoption.
2. Q1 Sales Surge
In Q1 2026, Zusduri sales more than doubled quarter-over-quarter to $29.2 million, propelled by the January J-code assignment which broadened reimbursement coverage and accelerated physician uptake.
3. Profitability Projection
The company highlighted gross margins above 91% and set a $305 million annual revenue break-even threshold, underpinning its forecast to achieve profitability by 2027 through disciplined expense control.
4. May Investor Presentations
UroGen will host one-on-one meetings at three investor conferences in May: Bank of America Health Care Conference on May 13 in Las Vegas, HC Wainwright BioConnect on May 19 in New York, and TD Cowen Oncology Innovation Summit on May 26.