Aurinia Pharmaceuticals (NASDAQ:AUPH) Price Target Raised to $18.00

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) had its price objective increased by Royal Bank Of Canada from $16.00 to $18.00 in a report released on Monday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the biotechnology company’s stock.

AUPH has been the topic of several other research reports. Weiss Ratings upgraded shares of Aurinia Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 22nd. Wall Street Zen lowered shares of Aurinia Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. TD Cowen upped their price target on shares of Aurinia Pharmaceuticals from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. Zacks Research downgraded Aurinia Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, Bloom Burton raised Aurinia Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Aurinia Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $18.25.

Aurinia Pharmaceuticals Stock Up 3.3%

Shares of Aurinia Pharmaceuticals stock opened at $17.11 on Monday. Aurinia Pharmaceuticals has a 12-month low of $13.33 and a 12-month high of $19.25. The company has a quick ratio of 4.97, a current ratio of 6.12 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average price of $16.48 and a two-hundred day moving average price of $15.67. The stock has a market capitalization of $2.29 billion, a P/E ratio of 7.47 and a beta of 1.40.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last released its quarterly earnings results on Friday, October 30th. The biotechnology company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $83.70 million for the quarter, compared to analyst estimates of $83.61 million. Aurinia Pharmaceuticals had a net margin of 97.68% and a return on equity of 22.99%. Equities analysts expect that Aurinia Pharmaceuticals will post 0.97 earnings per share for the current year.

Hedge Funds Weigh In On Aurinia Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Aurinia Pharmaceuticals in the 2nd quarter worth approximately $139,037,000. Allianz Asset Management GmbH bought a new position in shares of Aurinia Pharmaceuticals during the 2nd quarter worth about $14,284,000. Jupiter Topco LLC bought a new position in shares of Aurinia Pharmaceuticals during the 2nd quarter worth about $10,219,000. Rice Hall James & Associates LLC bought a new position in shares of Aurinia Pharmaceuticals during the 2nd quarter worth about $7,070,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Aurinia Pharmaceuticals during the 2nd quarter valued at about $6,931,000. 36.83% of the stock is currently owned by institutional investors.

About Aurinia Pharmaceuticals

Aurinia Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing therapies for autoimmune diseases. The company’s principal product is Lupkynis (voclosporin), an oral calcineurin inhibitor used in combination with other immunosuppressive therapies to treat adults with active lupus nephritis, a serious kidney complication of systemic lupus erythematosus.

Voclosporin was approved by the U.S. Food and Drug Administration in 2021, making Lupkynis the first oral therapy specifically approved in the United States for adult patients with active lupus nephritis.