Jupiter Topco LLC Makes New Investment in Urogen Pharma $URGN

Jupiter Topco LLC bought a new stake in Urogen Pharma (NASDAQ:URGN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 19,100 shares of the company’s stock, valued at approximately $704,000.

Several other hedge funds have also added to or reduced their stakes in URGN. Elmind Capital LP bought a new stake in Urogen Pharma in the 2nd quarter valued at $4,416,000. ADAR1 Capital Management LLC bought a new stake in shares of Urogen Pharma in the second quarter valued at about $9,288,000. Parkman Healthcare Partners LLC acquired a new position in shares of Urogen Pharma in the second quarter valued at about $6,406,000. Legal & General Group Plc bought a new position in Urogen Pharma during the second quarter worth about $1,319,000. Finally, The Manufacturers Life Insurance Company bought a new position in Urogen Pharma during the second quarter worth about $412,000. 91.29% of the stock is owned by institutional investors and hedge funds.

Urogen Pharma Price Performance

URGN stock opened at $44.09 on Monday. The company’s 50-day moving average price is $42.72 and its two-hundred day moving average price is $30.83. The firm has a market cap of $2.16 billion, a P/E ratio of -22.27 and a beta of 1.57. Urogen Pharma has a 12 month low of $15.86 and a 12 month high of $50.81.

Urogen Pharma (NASDAQ:URGN) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.28) earnings per share 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. Equities analysts predict that Urogen Pharma will post -0.2 EPS for the current year.

Insider Buying and Selling

In other Urogen Pharma news, insider Mark Schoenberg sold 60,677 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $47.05, for a total transaction of $2,854,852.85. Following the completion of the sale, the insider directly owned 59,086 shares in the company, valued at $2,779,996.30. This represents a 50.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 80,677 shares of company stock worth $3,604,953 in the last three months. 4.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on URGN. Guggenheim lifted their price objective on shares of Urogen Pharma from $42.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. TD Cowen raised their target price on shares of Urogen Pharma from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Oppenheimer lifted their price target 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. LADENBURG THALM/SH SH began coverage on Urogen Pharma in a research note on Monday, May 11th. They issued a “buy” rating and a $43.00 price target for the company. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $44.00 price target on shares of Urogen Pharma in a research report on Wednesday, July 15th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus 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.