Royal Bank Of Canada Forecasts Strong Price Appreciation for Aurinia Pharmaceuticals (NASDAQ:AUPH) Stock

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) had its price target lifted by stock analysts at Royal Bank Of Canada from $16.00 to $18.00 in a report released on Monday, Benzinga reports. The firm currently has a “sector perform” rating on the biotechnology company’s stock. Royal Bank Of Canada‘s price target indicates a potential upside of 10.35% from the stock’s previous close.

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

Aurinia Pharmaceuticals Trading Down 2.0%

NASDAQ AUPH traded down $0.34 on Monday, reaching $16.31. The company had a trading volume of 13,817 shares, compared to its average volume of 1,143,831. The stock’s 50 day moving average is $16.49 and its 200-day moving average is $15.64. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 7.21 and a beta of 1.60. The company has a quick ratio of 4.97, a current ratio of 5.42 and a debt-to-equity ratio of 0.07. Aurinia Pharmaceuticals has a 52 week low of $12.79 and a 52 week high of $19.25.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last announced its quarterly earnings results on Friday, October 30th. The biotechnology company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $83.70 million for the quarter, compared to analysts’ expectations of $83.61 million. Aurinia Pharmaceuticals had a net margin of 97.68% and a return on equity of 23.67%. Equities analysts predict that Aurinia Pharmaceuticals will post 0.91 earnings per share for the current year.

Institutional Trading of Aurinia Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of AUPH. BlackRock Inc. purchased a new stake in Aurinia Pharmaceuticals during the second quarter valued at about $139,037,000. Renaissance Technologies LLC increased its position in shares of Aurinia Pharmaceuticals by 4.6% in the first quarter. Renaissance Technologies LLC now owns 1,663,835 shares of the biotechnology company’s stock worth $24,658,000 after purchasing an additional 73,700 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Aurinia Pharmaceuticals during the 2nd quarter valued at $14,284,000. Janus Henderson Group PLC raised its stake in shares of Aurinia Pharmaceuticals by 9.7% during the first quarter. Janus Henderson Group PLC now owns 757,435 shares of the biotechnology company’s stock worth $11,225,000 after acquiring an additional 66,806 shares in the last quarter. Finally, Jupiter Topco LLC bought a new position in shares of Aurinia Pharmaceuticals during the second quarter valued at about $10,219,000. 36.83% of the stock is owned by hedge funds and other 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.