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

Palo Alto Investors LP bought a new stake in shares of Urogen Pharma (NASDAQ:URGN) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 24,500 shares of the company’s stock, valued at approximately $901,600. Palo Alto Investors LP owned approximately 0.05% of Urogen Pharma at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Paradigm Biocapital Advisors LP bought a new stake in Urogen Pharma in the 3rd quarter valued at approximately $84,111,000. BlackRock Inc. purchased a new stake in Urogen Pharma in the second quarter worth about $117,814,000. Jefferies Financial Group Inc. purchased a new position in Urogen Pharma during the second quarter valued at $80,947,000. Soleus Capital Management L.P. bought a new stake in Urogen Pharma in the second quarter worth $29,934,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Urogen Pharma in the fourth quarter worth $26,350,000. Institutional investors own 91.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on URGN. Oppenheimer increased their target price on shares of Urogen Pharma from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. UBS Group reissued a “buy” rating on shares of Urogen Pharma in a report on Thursday, July 9th. Guggenheim raised their price objective on Urogen Pharma from $42.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. HC Wainwright lifted their price objective on shares of Urogen Pharma from $45.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, TD Cowen raised their price objective on Urogen Pharma from $50.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.38.

Insider Buying and Selling

In other Urogen Pharma news, insider Mark Schoenberg sold 60,677 shares of the firm’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 transaction of $2,854,852.85. Following the sale, the insider owned 59,086 shares in the company, valued at approximately $2,779,996.30. This trade represents a 50.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 85,899 shares of company stock valued at $3,747,513 over the last 90 days. Insiders own 4.80% of the company’s stock.

Urogen Pharma Stock Down 4.1%

Shares of NASDAQ:URGN traded down $1.88 on Friday, reaching $43.62. 580,048 shares of the company’s stock were exchanged, compared to its average volume of 812,215. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -22.03 and a beta of 1.57. Urogen Pharma has a fifty-two week low of $15.86 and a fifty-two week high of $50.81. The business’s 50-day moving average is $41.61 and its two-hundred day moving average is $29.85.

Urogen Pharma (NASDAQ:URGN) last announced its earnings results 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 firm had revenue of $72.46 million for the quarter, compared to the consensus estimate of $63.55 million. Analysts predict that Urogen Pharma will post -0.2 earnings per share for the current fiscal year.

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.