Is UroGen Pharma Ltd. overvalued or undervalued?

As of 9 November 2020, UroGen Pharma Ltd. moved from does not qualify to risky, indicating a significant downgrade in its valuation outlook. The company appears to be overvalued, given its negative valuation ratios, including a Price to Book Value of -7.31 and an EV to EBITDA of -2.50. Furthermore, its EV to Sales ratio stands at 2.90, which is concerning for a company in the pharmaceuticals and biotechnology sector.
In comparison to its peers, UroGen Pharma Ltd. has a P/E ratio of -6.39, while Avidity Biosciences, Inc. and Janux Therapeutics, Inc. have P/E ratios of -13.56 and -14.22, respectively, indicating that UroGen is less negatively valued but still in a precarious position. Despite a strong year-to-date return of 77.18% compared to the S&P 500's 12.22%, the long-term performance shows a decline of 16.10% over five years, which raises concerns about its sustainability.