Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

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. “

Several other research analysts also recently weighed in on the stock. Raymond James upped their price objective on shares of Aurinia Pharmaceuticals from $9.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. BidaskClub downgraded shares of Aurinia Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, February 20th. Royal Bank of Canada upped their price objective on shares of Aurinia Pharmaceuticals from $9.00 to $11.00 and gave the stock a “positive” rating in a report on Wednesday, March 20th. HC Wainwright restated a “buy” rating on shares of Aurinia Pharmaceuticals in a report on Wednesday, May 15th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $24.00 target price (up previously from $18.00) on shares of Aurinia Pharmaceuticals in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $15.60.

AUPH traded up $0.16 during trading on Wednesday, hitting $6.30. 437,935 shares of the company’s stock were exchanged, compared to its average volume of 802,283. Aurinia Pharmaceuticals has a fifty-two week low of $5.06 and a fifty-two week high of $7.85. The company has a market cap of $566.37 million, a price-to-earnings ratio of -8.29 and a beta of 1.17.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last released its quarterly earnings data on Tuesday, March 19th. The biotechnology company reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.03). Aurinia Pharmaceuticals had a negative return on equity of 48.36% and a negative net margin of 8,435.08%. The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.05 million. On average, analysts forecast that Aurinia Pharmaceuticals will post -0.65 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Lindbrook Capital LLC raised its holdings in shares of Aurinia Pharmaceuticals by 200.0% in the first quarter. Lindbrook Capital LLC now owns 6,000 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 4,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Aurinia Pharmaceuticals by 168.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,104 shares of the biotechnology company’s stock worth $41,000 after buying an additional 3,828 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Aurinia Pharmaceuticals during the first quarter worth about $45,000. Toronto Dominion Bank increased its holdings in Aurinia Pharmaceuticals by 64.7% during the first quarter. Toronto Dominion Bank now owns 9,780 shares of the biotechnology company’s stock worth $63,000 after buying an additional 3,842 shares during the last quarter. Finally, Coastal Investment Advisors Inc. purchased a new stake in Aurinia Pharmaceuticals during the first quarter worth about $70,000. Institutional investors own 32.54% of the company’s stock.

Aurinia Pharmaceuticals Company Profile

Aurinia Pharmaceuticals Inc, a clinical stage biopharmaceutical company, engages in the research, development, and commercialization of therapeutic drugs for the treatment of various diseases in the United States and China. The company is involved in developing voclosporin, an investigational drug for the treatment of lupus nephritis, dry eye syndrome, and focal segmental glomerulosclerosis.

Read More: How to calculate the annual rate of depreciation

Get a free copy of the Zacks research report on Aurinia Pharmaceuticals (AUPH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Aurinia Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aurinia Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.