Aurinia Pharmaceuticals (NASDAQ:AUPH) Trading Up 11% Following Earnings Beat

Shares of Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) (TSE:AUP) traded up 11% during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $8.43 and last traded at $8.35. 1,352,715 shares were traded during mid-day trading, a decline of 15% from the average session volume of 1,591,148 shares. The stock had previously closed at $7.52.

The biotechnology company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.02 by $0.08. Aurinia Pharmaceuticals had a negative net margin of 24.31% and a negative return on equity of 11.84%. The business had revenue of $67.77 million for the quarter, compared to analysts’ expectations of $59.07 million.

Analyst Upgrades and Downgrades

AUPH has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of Aurinia Pharmaceuticals in a report on Friday, September 6th. StockNews.com raised Aurinia Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Aurinia Pharmaceuticals in a report on Monday, September 16th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $10.00.

Institutional Trading of Aurinia Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in Aurinia Pharmaceuticals in the 3rd quarter valued at $262,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Aurinia Pharmaceuticals in the third quarter valued at about $3,330,000. Segall Bryant & Hamill LLC increased its stake in Aurinia Pharmaceuticals by 1.6% in the third quarter. Segall Bryant & Hamill LLC now owns 562,775 shares of the biotechnology company’s stock valued at $4,125,000 after acquiring an additional 9,031 shares during the period. China Universal Asset Management Co. Ltd. raised its position in Aurinia Pharmaceuticals by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 27,502 shares of the biotechnology company’s stock worth $202,000 after purchasing an additional 10,700 shares in the last quarter. Finally, CWM LLC lifted its stake in Aurinia Pharmaceuticals by 247.7% during the third quarter. CWM LLC now owns 11,483 shares of the biotechnology company’s stock worth $84,000 after purchasing an additional 8,180 shares during the period. Institutional investors and hedge funds own 36.83% of the company’s stock.

Aurinia Pharmaceuticals Stock Performance

The business has a fifty day simple moving average of $7.13 and a two-hundred day simple moving average of $6.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.82 and a current ratio of 5.33.

Aurinia Pharmaceuticals Company Profile

Aurinia Pharmaceuticals Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies to treat various diseases with unmet medical need in the United States. It offers LUPKYNIS for the treatment of adult patients with active lupus nephritis. It has a collaboration and license agreement with Otsuka Pharmaceutical Co, Ltd.