Zacks Investment Research Upgrades Aurinia Pharmaceuticals (AUPH) to “Hold”

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

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. “

A number of other research analysts have also weighed in on the stock. Raymond James lifted their price target on shares of Aurinia Pharmaceuticals from $9.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank of Canada lifted their price target on shares of Aurinia Pharmaceuticals from $9.00 to $11.00 and gave the company a “positive” rating in a research note on Wednesday. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $24.00 price target (up previously from $18.00) on shares of Aurinia Pharmaceuticals in a research note on Tuesday. Finally, BidaskClub lowered shares of Aurinia Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Aurinia Pharmaceuticals has an average rating of “Buy” and an average price target of $13.75.

Shares of AUPH opened at $6.75 on Wednesday. Aurinia Pharmaceuticals has a twelve month low of $5.01 and a twelve month high of $7.85. The company has a market capitalization of $586.73 million, a price-to-earnings ratio of -8.88 and a beta of 1.38.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last announced its quarterly earnings results on Tuesday, March 19th. The biotechnology company reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.03). Aurinia Pharmaceuticals had a negative net margin of 8,856.35% and a negative return on equity of 45.80%. The company had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.05 million. On average, equities research analysts expect that Aurinia Pharmaceuticals will post -0.62 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Aurinia Pharmaceuticals by 168.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,104 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 3,828 shares in the last quarter. Creative Planning lifted its position in shares of Aurinia Pharmaceuticals by 10.2% in the fourth quarter. Creative Planning now owns 167,657 shares of the biotechnology company’s stock worth $1,143,000 after purchasing an additional 15,457 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Aurinia Pharmaceuticals in the fourth quarter worth $105,000. Jane Street Group LLC bought a new stake in shares of Aurinia Pharmaceuticals in the third quarter worth $182,000. Finally, Bank of America Corp DE lifted its position in shares of Aurinia Pharmaceuticals by 8,600.6% in the fourth quarter. Bank of America Corp DE now owns 30,713 shares of the biotechnology company’s stock worth $210,000 after purchasing an additional 30,360 shares in the last quarter. 24.30% of the stock is currently owned by hedge funds and other institutional investors.

About Aurinia Pharmaceuticals

Aurinia Pharmaceuticals Inc, a clinical stage biopharmaceutical company, engages in the research, development, and commercialization of therapeutic drugs for the treatment of autoimmune diseases in Canada, the United States, China, and Switzerland. The company is developing voclosporin, a calcineurin inhibitor for the treatment of lupus nephritis, dry eye syndrome, and focal segmental glomerulosclerosis.

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