Parkman Healthcare Partners LLC Acquires New Position in Urogen Pharma $URGN

Parkman Healthcare Partners LLC acquired a new position in shares of Urogen Pharma (NASDAQ:URGN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 174,064 shares of the company’s stock, valued at approximately $6,406,000. Parkman Healthcare Partners LLC owned 0.36% of Urogen Pharma as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of URGN. Legal & General Group Plc bought a new position in shares of Urogen Pharma during the second quarter valued at approximately $1,319,000. The Manufacturers Life Insurance Company bought a new stake in shares of Urogen Pharma in the 2nd quarter worth approximately $412,000. Partners Capital Investment Group LLP bought a new stake in shares of Urogen Pharma in the 2nd quarter worth approximately $566,000. Algert Global LLC boosted its position in Urogen Pharma by 70.4% during the 2nd quarter. Algert Global LLC now owns 32,350 shares of the company’s stock valued at $1,190,000 after purchasing an additional 13,360 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Urogen Pharma during the 2nd quarter valued at approximately $78,000. Institutional investors own 91.29% of the company’s stock.

Insider Buying and Selling at Urogen Pharma

In related news, insider Mark Schoenberg sold 60,677 shares of Urogen Pharma stock in a transaction dated 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 directly owned 59,086 shares in the company, valued at $2,779,996.30. The trade was a 50.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 85,899 shares of company stock worth $3,747,513 in the last quarter. 4.80% of the stock is owned by insiders.

Urogen Pharma Price Performance

URGN opened at $46.16 on Tuesday. Urogen Pharma has a 12 month low of $15.86 and a 12 month high of $50.81. The stock has a market cap of $2.26 billion, a P/E ratio of -23.31 and a beta of 1.57. The stock’s 50 day moving average price is $40.82 and its 200 day moving average price is $29.32.

Urogen Pharma (NASDAQ:URGN) last announced its quarterly 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 business had revenue of $72.46 million during the quarter, compared to the consensus estimate of $63.55 million. Equities analysts anticipate that Urogen Pharma will post -0.2 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. HC Wainwright increased their target price on Urogen Pharma from $45.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. The Goldman Sachs Group restated a “neutral” rating and set a $44.00 price target on shares of Urogen Pharma in a research report on Wednesday, July 15th. UBS Group reaffirmed a “buy” rating on shares of Urogen Pharma in a report on Thursday, July 9th. Guggenheim lifted their price objective on shares of Urogen Pharma from $42.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, LADENBURG THALM/SH SH initiated 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 for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.38.

About Urogen Pharma

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.