Palo Alto Investors LP Makes New $901.60 Million Investment in Urogen Pharma $URGN

Palo Alto Investors LP bought a new position in shares of Urogen Pharma (NASDAQ:URGN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 24,500 shares of the company’s stock, valued at approximately $901,600,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Paradigm Biocapital Advisors LP lifted its position in Urogen Pharma by 6.1% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 4,473,648 shares of the company’s stock worth $104,773,000 after buying an additional 257,564 shares in the last quarter. BlackRock Inc. acquired a new position in Urogen Pharma during the second quarter worth $117,814,000. Morgan Stanley grew its holdings in Urogen Pharma by 1.4% in the 4th quarter. Morgan Stanley now owns 2,562,901 shares of the company’s stock valued at $60,023,000 after buying an additional 34,455 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Urogen Pharma in the 2nd quarter valued at $80,947,000. Finally, Soleus Capital Management L.P. purchased a new stake in Urogen Pharma in the 2nd quarter valued at $29,934,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Urogen Pharma

In other news, insider Mark Schoenberg sold 60,677 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $47.05, for a total value of $2,854,852.85. Following the sale, the insider directly owned 59,086 shares of the company’s stock, valued at approximately $2,779,996.30. The trade was a 50.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 85,899 shares of company stock worth $3,747,513 in the last ninety days. 4.80% of the stock is owned by company insiders.

Urogen Pharma Stock Down 1.0%

NASDAQ:URGN opened at $45.50 on Friday. Urogen Pharma has a 52 week low of $15.86 and a 52 week high of $50.81. The stock’s fifty day moving average is $41.61 and its two-hundred day moving average is $29.85. The company has a market capitalization of $2.22 billion, a P/E ratio of -22.98 and a beta of 1.57.

Urogen Pharma (NASDAQ:URGN) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The company had revenue of $72.46 million during the quarter, compared to analysts’ expectations of $63.55 million. Sell-side analysts anticipate that Urogen Pharma will post -0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on URGN shares. HC Wainwright lifted their price target on Urogen Pharma from $45.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. UBS Group reissued a “buy” rating on shares of Urogen Pharma in a report on Thursday, July 9th. Guggenheim raised their price objective on shares of Urogen Pharma from $42.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. LADENBURG THALM/SH SH assumed coverage on shares of Urogen Pharma in a research note on Monday, May 11th. They set a “buy” rating and a $43.00 target price on the stock. Finally, TD Cowen lifted their target price on shares of Urogen Pharma from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.38.

Urogen Pharma Profile

UroGen Pharma is a clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for uro-oncology and uro-genital diseases. Founded in 2010 and headquartered in Ra’anana, Israel, with offices in New York, UroGen applies its proprietary RTGel® reverse thermal gel delivery platform to create sustained-release formulations designed for in-office use by urologists.

The company’s lead product, Jelmyto® (mitomycin gel), received U.S. Food and Drug Administration approval in 2020 for the treatment of adults with low-grade upper tract urothelial cancer.