Coastal Bridge Advisors LLC Invests $1.36 Million in Urogen Pharma $URGN

Coastal Bridge Advisors LLC bought a new stake in shares of Urogen Pharma (NASDAQ:URGN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 37,000 shares of the company’s stock, valued at approximately $1,362,000. Coastal Bridge Advisors LLC owned approximately 0.08% of Urogen Pharma at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Osaic Holdings Inc. boosted its holdings in Urogen Pharma by 491.2% during the second quarter. Osaic Holdings Inc. now owns 3,695 shares of the company’s stock worth $50,000 after buying an additional 3,070 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Urogen Pharma by 1,594.4% in the third quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company’s stock valued at $66,000 after buying an additional 3,125 shares in the last quarter. Persistent Asset Partners Ltd acquired a new position in shares of Urogen Pharma in the second quarter worth about $66,000. Quantbot Technologies LP acquired a new position in shares of Urogen Pharma in the second quarter worth about $78,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Urogen Pharma by 422.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the company’s stock worth $94,000 after acquiring an additional 5,571 shares during the period. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Oppenheimer raised their target price on Urogen Pharma from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. HC Wainwright upped 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. LADENBURG THALM/SH SH initiated coverage on Urogen Pharma in a research report on Monday, May 11th. They set a “buy” rating and a $43.00 price target on the stock. 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. Finally, Guggenheim raised their price objective on Urogen Pharma from $42.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $50.38.

Insider Transactions at Urogen Pharma

In other Urogen Pharma news, insider Mark Schoenberg sold 60,677 shares of the business’s stock in a transaction that occurred 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 approximately $2,779,996.30. The trade was a 50.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 85,899 shares of company stock valued at $3,747,513. Insiders own 4.80% of the company’s stock.

Urogen Pharma Stock Down 1.0%

URGN opened at $45.50 on Friday. The firm’s fifty day simple moving average is $41.61 and its two-hundred day simple moving average is $29.85. Urogen Pharma has a 52-week low of $15.86 and a 52-week high of $50.81. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -22.98 and a beta of 1.57.

Urogen Pharma (NASDAQ:URGN) last released its earnings results on Wednesday, August 5th. The company reported ($0.28) 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 analyst estimates of $63.55 million. On average, research analysts forecast that Urogen Pharma will post -0.2 EPS for the current 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.