Bender Robert & Associates Purchases New Stake in Urogen Pharma $URGN

Key Points

• Bender Robert & Associates purchased 34,701 shares of Urogen Pharma, worth approximately $1.41 million, giving it a 0.07% stake and making URGN its 25th-largest holding.
• Institutional ownership is high at 91.29%, with major new positions from BlackRock, Jefferies Financial Group, Bank of America, and others.
• Urogen Pharma reported quarterly revenue of $72.46 million, exceeding estimates, but missed EPS expectations. Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $52.38 versus the reported price of $35.48.

Bender Robert & Associates purchased a new position in Urogen Pharma (NASDAQ:URGN - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 34,701 shares of the company's stock, valued at approximately $1,410,000. Urogen Pharma comprises about 0.3% of Bender Robert & Associates' investment portfolio, making the stock its 25th biggest holding. Bender Robert & Associates owned 0.07% of Urogen Pharma as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Urogen Pharma in the second quarter worth about $117,814,000. Jefferies Financial Group Inc. purchased a new stake in shares of Urogen Pharma during the second quarter valued at approximately $80,947,000. Bank of America Corp DE bought a new stake in shares of Urogen Pharma during the second quarter valued at approximately $17,506,000. Rice Hall James & Associates LLC bought a new stake in shares of Urogen Pharma during the second quarter valued at approximately $11,064,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Urogen Pharma by 20.3% during the first quarter. SG Americas Securities LLC now owns 1,657,846 shares of the company's stock valued at $29,808,000 after purchasing an additional 280,199 shares in the last quarter. Institutional investors own 91.29% of the company's stock.

Urogen Pharma Price Performance

URGN opened at $35.48 on Thursday. The firm has a 50-day simple moving average of $42.40 and a two-hundred day simple moving average of $35.74. Urogen Pharma has a 52 week low of $16.50 and a 52 week high of $50.81.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $63.55 million. As a group, equities research analysts anticipate that Urogen Pharma will post -0.20 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Jason Smith sold 1,519 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $42.54, for a total transaction of $64,618.26. Following the completion of the sale, the general counsel directly owned 53,141 shares of the company's stock, valued at approximately $2,260,618.14. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Schoenberg sold 871 shares of the company's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $42.92, for a total value of $37,383.32. Following the completion of the sale, the insider owned 59,882 shares of the company's stock, valued at $2,570,135.44. This represents a 1.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 65,269 shares of company stock valued at $3,037,646 over the last ninety days. 4.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on URGN. Jefferies Financial Group reiterated a "buy" rating and issued a $56.00 price objective on shares of Urogen Pharma in a report on Thursday, September 10th. UBS Group reissued a "buy" rating on shares of Urogen Pharma in a report on Thursday, July 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Urogen Pharma in a research report on Thursday, October 15th. The Goldman Sachs Group reissued a "neutral" rating and issued a $44.00 target price on shares of Urogen Pharma in a research report on Wednesday, July 15th. Finally, TD Cowen boosted their price objective on shares of Urogen Pharma from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Urogen Pharma has an average rating of "Moderate Buy" and an average price target of $52.38.

About Urogen Pharma

UroGen Pharma Ltd. NASDAQ: URGN is a biopharmaceutical company focused on developing and commercializing treatments for cancers of the urinary tract. The company's therapies are designed to deliver medicines directly to the affected area, with the goal of improving drug exposure while limiting systemic side effects.

UroGen's primary commercial product is Jelmyto, a mitomycin-based treatment approved in the United States for adults with low-grade upper tract urothelial cancer. Jelmyto uses UroGen's proprietary RTGel technology, which forms a gel in the urinary tract and enables the sustained local release of mitomycin.

The company has also developed UGN-102, an investigational mitomycin-based reverse thermal gel intended for the treatment of low-grade, intermediate-risk non-muscle-invasive bladder cancer.

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