Coastal Bridge Advisors LLC Acquires Shares of 37,000 Urogen Pharma $URGN

Coastal Bridge Advisors LLC bought a new position in shares of Urogen Pharma (NASDAQ:URGN) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 37,000 shares of the company’s stock, valued at approximately $1,362,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. purchased a new stake in shares of Urogen Pharma during the second quarter worth $80,947,000. Bank of America Corp DE purchased a new position in shares of Urogen Pharma in the second quarter worth about $17,506,000. Jupiter Topco LLC purchased a new position in shares of Urogen Pharma in the second quarter worth about $704,000. Elmind Capital LP acquired a new position in Urogen Pharma during the second quarter worth about $4,416,000,000. Finally, ADAR1 Capital Management LLC acquired a new position in Urogen Pharma during the second quarter worth about $9,288,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

Analyst Upgrades and Downgrades

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

Urogen Pharma Trading Down 1.0%

Shares of URGN stock opened at $45.50 on Friday. The company’s 50-day moving average price is $41.61 and its 200-day moving average price is $29.85. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -22.98 and a beta of 1.57. Urogen Pharma has a twelve month low of $15.86 and a twelve month high of $50.81.

Urogen Pharma (NASDAQ:URGN) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The company had revenue of $72.46 million for the quarter, compared to analysts’ expectations of $63.55 million. As a group, equities research analysts predict that Urogen Pharma will post -0.2 EPS for the current year.

Insiders Place Their Bets

In other news, insider Mark Schoenberg sold 60,677 shares of the 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 completion of the sale, the insider owned 59,086 shares of the company’s stock, valued at $2,779,996.30. This represents a 50.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 85,899 shares of company stock valued at $3,747,513. Insiders own 4.80% of the company’s stock.

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.