Bank of America Corp DE Acquires New Holdings in Urogen Pharma $URGN

Key Points

• Bank of America acquired 475,702 shares of UroGen Pharma in the second quarter, valued at approximately $17.5 million and representing about 0.97% of the company. Institutional investors collectively own 91.29% of URGN.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $52.38; recent targets range from $50 to $75.
• UroGen reported quarterly revenue of $72.46 million, exceeding estimates, but its loss of $0.28 per share was slightly worse than expected. The stock recently traded at $41.23, compared with a one-year range of $15.86 to $50.81.

Bank of America Corp DE acquired a new position in Urogen Pharma (NASDAQ:URGN - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 475,702 shares of the company's stock, valued at approximately $17,506,000. Bank of America Corp DE owned approximately 0.97% of Urogen Pharma at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in URGN. Partners Capital Investment Group LLP bought a new stake in shares of Urogen Pharma during the second quarter valued at about $566,000. California State Teachers Retirement System increased its stake in Urogen Pharma by 1,605.5% during the 1st quarter. California State Teachers Retirement System now owns 38,750 shares of the company's stock valued at $697,000 after buying an additional 36,478 shares during the period. Rice Hall James & Associates LLC bought a new stake in shares of Urogen Pharma during the 2nd quarter worth about $11,064,000. Deutsche Bank AG bought a new stake in shares of Urogen Pharma during the 2nd quarter worth about $1,897,000. Finally, Swiss National Bank acquired a new stake in shares of Urogen Pharma in the 1st quarter worth approximately $1,399,000. Institutional investors own 91.29% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on URGN shares. Oppenheimer lifted their price target on Urogen Pharma from $40.00 to $50.00 and gave the company an "outperform" rating in a research report on Thursday, July 16th. Jefferies Financial Group restated a "buy" rating and set a $56.00 target price on shares of Urogen Pharma in a report on Thursday, September 10th. HC Wainwright lifted their price target on shares of Urogen Pharma from $45.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. UBS Group reaffirmed a "buy" rating on shares of Urogen Pharma in a report on Thursday, July 9th. Finally, TD Cowen increased their price objective on Urogen Pharma from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Urogen Pharma currently has a consensus rating of "Moderate Buy" and an average target price of $52.38.

Insider Buying and Selling at Urogen Pharma

In other news, insider Mark Schoenberg sold 871 shares of Urogen Pharma stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $42.92, for a total transaction of $37,383.32. Following the transaction, the insider owned 59,882 shares in the company, valued at approximately $2,570,135.44. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Jason Smith sold 1,519 shares of Urogen Pharma stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $42.54, for a total value of $64,618.26. Following the transaction, the general counsel owned 53,141 shares in the company, valued at $2,260,618.14. This represents a 2.78% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 73,067 shares of company stock valued at $3,356,854. 4.80% of the stock is currently owned by insiders.

Urogen Pharma Price Performance

Shares of URGN opened at $41.23 on Friday. The company has a 50-day moving average of $44.00 and a two-hundred day moving average of $33.03. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -20.82 and a beta of 1.57. Urogen Pharma has a one year low of $15.86 and a one year high of $50.81.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates 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. Analysts anticipate that Urogen Pharma will post -0.2 earnings per share for the current year.

About Urogen Pharma

UroGen Pharma Ltd. is a biopharmaceutical company focused on developing and commercializing therapies for cancers of the urinary tract. The company uses its proprietary RTGel reverse-thermal hydrogel technology to provide sustained delivery of medicines directly to affected tissues.

UroGen's primary commercial product is JELMYTO (mitomycin), a gel-based formulation approved in the United States for the treatment of adults with low-grade upper tract urothelial cancer. The company's pipeline has also included UGN-102, an investigational formulation of mitomycin being developed for patients with low-grade, intermediate-risk non-muscle-invasive bladder cancer.

Founded in 2004, UroGen is headquartered in Princeton, New Jersey, and primarily serves the U.S.

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