Aurinia Pharmaceuticals Inc (AUPH) Trading Down 5.7% Following Weak Earnings
Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) (TSE:AUP) was down 5.7% on Monday following a dissappointing earnings announcement. The company traded as low as $7.20 and last traded at $7.24, with a volume of 7,370,537 shares traded. The stock had previously closed at $7.68.
The biotechnology company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.08. Aurinia Pharmaceuticals had a negative return on equity of 50.53% and a negative net margin of 48,278.23%. The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.05 million.
AUPH has been the subject of a number of analyst reports. FBR & Co reissued an “outperform” rating and issued a $11.00 price target (up from $9.00) on shares of Aurinia Pharmaceuticals in a report on Wednesday, March 22nd. Cantor Fitzgerald reissued a “buy” rating and issued a $14.00 price target on shares of Aurinia Pharmaceuticals in a report on Friday, April 21st. HC Wainwright cut their price target on Aurinia Pharmaceuticals from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, May 18th. Zacks Investment Research raised Aurinia Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, March 20th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $10.00 price target on shares of Aurinia Pharmaceuticals in a report on Friday, March 3rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $9.64.
Large investors have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new stake in Aurinia Pharmaceuticals during the first quarter worth about $155,000. Geode Capital Management LLC bought a new stake in shares of Aurinia Pharmaceuticals during the first quarter valued at $187,000. Oxford Asset Management bought a new stake in shares of Aurinia Pharmaceuticals during the fourth quarter valued at $211,000. Two Sigma Securities LLC bought a new stake in shares of Aurinia Pharmaceuticals during the first quarter valued at $240,000. Finally, TD Asset Management Inc. bought a new stake in shares of Aurinia Pharmaceuticals during the first quarter valued at $241,000. 29.26% of the stock is owned by hedge funds and other institutional investors.
The company’s market capitalization is $502.13 million. The firm has a 50 day moving average of $6.74 and a 200 day moving average of $5.13.
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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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