Aurinia Pharmaceuticals (NASDAQ:AUPH) Issues Earnings Results, Beats Estimates By $0.04 EPS

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) issued its quarterly earnings results on Thursday. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04, FiscalAI reports. The company had revenue of $58.57 million during the quarter, compared to the consensus estimate of $80.45 million. Aurinia Pharmaceuticals had a net margin of 99.97% and a return on equity of 26.62%.

Aurinia Pharmaceuticals Stock Performance

NASDAQ AUPH traded up $0.94 during trading hours on Thursday, hitting $16.13. The company had a trading volume of 2,235,261 shares, compared to its average volume of 1,080,249. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.01 and a current ratio of 5.55. Aurinia Pharmaceuticals has a 1-year low of $10.34 and a 1-year high of $19.25. The company has a market cap of $2.07 billion, a PE ratio of 7.43 and a beta of 1.42. The business has a 50 day moving average of $15.94 and a 200-day moving average of $15.35.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings downgraded Aurinia Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 15th. Zacks Research cut Aurinia Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.33.

Insider Activity at Aurinia Pharmaceuticals

In other news, CEO Kevin Tang bought 206,005 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average price of $15.28 per share, for a total transaction of $3,147,756.40. Following the completion of the transaction, the chief executive officer owned 13,044,106 shares of the company’s stock, valued at approximately $199,313,939.68. This trade represents a 1.60% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 814,606 shares of company stock worth $12,455,129 in the last 90 days. 10.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AUPH. Royal Bank of Canada boosted its holdings in shares of Aurinia Pharmaceuticals by 65.3% in the first quarter. Royal Bank of Canada now owns 367,661 shares of the biotechnology company’s stock valued at $2,956,000 after acquiring an additional 145,179 shares during the period. AQR Capital Management LLC raised its position in Aurinia Pharmaceuticals by 8.7% in the 1st quarter. AQR Capital Management LLC now owns 503,543 shares of the biotechnology company’s stock valued at $4,048,000 after purchasing an additional 40,380 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Aurinia Pharmaceuticals by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,811 shares of the biotechnology company’s stock valued at $642,000 after purchasing an additional 3,497 shares during the last quarter. Creative Planning boosted its stake in Aurinia Pharmaceuticals by 21.0% during the 2nd quarter. Creative Planning now owns 20,699 shares of the biotechnology company’s stock worth $175,000 after purchasing an additional 3,594 shares during the period. Finally, Legal & General Group Plc boosted its stake in Aurinia Pharmaceuticals by 16.5% during the 2nd quarter. Legal & General Group Plc now owns 141,492 shares of the biotechnology company’s stock worth $1,201,000 after purchasing an additional 20,027 shares during the period. Institutional investors and hedge funds own 36.83% of the company’s stock.

Aurinia Pharmaceuticals Company Profile

Aurinia Pharmaceuticals Inc is a clinical?stage biopharmaceutical company focused on developing and commercializing therapies for autoimmune diseases. The company’s proprietary molecule, voclosporin, is designed to selectively inhibit calcineurin and reduce inflammation associated with autoimmune responses. Aurinia operates research and development facilities in Canada and the United States, leveraging collaborations with academic institutions and contract research organizations to advance its clinical pipeline.

The company’s lead product, voclosporin (marketed as LUPKYNIS), received approval from the U.S.