Zacks Investment Research upgraded shares of Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) (TSE:AUP) from a hold rating to a buy rating in a research report released on Tuesday. The brokerage currently has $7.00 price target on the biotechnology company’s stock.
According to Zacks, “Aurinia Pharmaceuticals Inc. is a late stage biopharmaceutical company. It focuses on the development of therapeutic immunomodulating drug candidate. The company’s lead drug includes Voclosporin for the treatment of lupus nephritis. Aurinia Pharmaceuticals Inc. is headquartered in Victoria, Canada. “
A number of other equities research analysts have also recently weighed in on AUPH. Vetr cut Aurinia Pharmaceuticals from a strong-buy rating to a buy rating and set a $6.72 price objective for the company. in a research note on Monday, August 14th. Cantor Fitzgerald set a $14.00 price objective on Aurinia Pharmaceuticals and gave the company a buy rating in a research note on Friday, August 11th. BidaskClub cut Aurinia Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, July 28th. Finally, HC Wainwright dropped their price objective on Aurinia Pharmaceuticals from $12.00 to $10.00 and set a buy rating for the company in a research note on Thursday, May 18th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $9.72.
Aurinia Pharmaceuticals (NASDAQ:AUPH) opened at 6.10 on Tuesday. The company’s market cap is $509.26 million. The firm has a 50-day moving average price of $6.31 and a 200 day moving average price of $6.27. Aurinia Pharmaceuticals has a 12 month low of $1.88 and a 12 month high of $10.54.
Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last issued its quarterly earnings data on Thursday, August 10th. The biotechnology company reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.10. Aurinia Pharmaceuticals had a negative return on equity of 28.61% and a negative net margin of 16,648.93%. The business had revenue of $0.33 million during the quarter, compared to analysts’ expectations of $0.06 million. Equities research analysts predict that Aurinia Pharmaceuticals will post ($0.82) EPS for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NEA Management Company LLC boosted its position in Aurinia Pharmaceuticals by 18.2% in the first quarter. NEA Management Company LLC now owns 4,808,483 shares of the biotechnology company’s stock valued at $35,294,000 after buying an additional 740,740 shares during the last quarter. AWM Investment Company Inc. bought a new position in Aurinia Pharmaceuticals during the first quarter valued at approximately $2,202,000. Quantbot Technologies LP bought a new position in Aurinia Pharmaceuticals during the first quarter valued at approximately $275,000. Two Sigma Securities LLC bought a new position in Aurinia Pharmaceuticals during the first quarter valued at approximately $240,000. Finally, OTA Financial Group L.P. bought a new position in Aurinia Pharmaceuticals during the first quarter valued at approximately $1,291,000. 30.29% of the stock is owned by hedge funds and other institutional investors.
About Aurinia Pharmaceuticals
Aurinia Pharmaceuticals Inc is a Canada-based clinical-stage biopharmaceutical company operating in the field of nephrology and autoimmunity. The Company’s primary business is the development of a therapeutic drug to treat autoimmune diseases, in particular lupus nephritis (LN). It is focused on the development of its lead compound voclosporin, a therapeutic immunomodulating drug candidate, which is a second-generation calcineurin inhibitors (CNI) to treat patients afflicted with LN.
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