Aurinia Pharmaceuticals (NASDAQ:AUPH) Trading 8.9% Higher - Here's Why

Aurinia Pharmaceuticals Inc (NASDAQ:AUPH - Get Free Report) TSE: AUP shares were up 8.9% during mid-day trading on Wednesday . The company traded as high as $8.29 and last traded at $8.27. Approximately 1,629,709 shares changed hands during mid-day trading, an increase of 15% from the average daily volume of 1,411,901 shares. The stock had previously closed at $7.59.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Aurinia Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Thursday, March 27th.

Aurinia Pharmaceuticals Stock Performance

The company has a quick ratio of 5.26, a current ratio of 5.93 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.13 billion, a P/E ratio of 29.96 and a beta of 1.16. The business has a fifty day moving average of $8.04 and a 200 day moving average of $8.08.

Aurinia Pharmaceuticals (NASDAQ:AUPH - Get Free Report) TSE: AUP last posted its quarterly earnings data on Monday, May 12th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.08. The business had revenue of $62.47 million during the quarter, compared to the consensus estimate of $61.06 million. Aurinia Pharmaceuticals had a return on equity of 14.27% and a net margin of 16.11%. On average, equities analysts predict that Aurinia Pharmaceuticals Inc will post 0.11 EPS for the current year.

Hedge Funds Weigh In On Aurinia Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. Tang Capital Management LLC increased its holdings in shares of Aurinia Pharmaceuticals by 16.6% during the fourth quarter. Tang Capital Management LLC now owns 8,429,500 shares of the biotechnology company's stock valued at $75,697,000 after acquiring an additional 1,200,000 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Aurinia Pharmaceuticals by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 1,729,948 shares of the biotechnology company's stock valued at $15,535,000 after buying an additional 112,113 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Aurinia Pharmaceuticals by 10.2% during the fourth quarter. Nuveen Asset Management LLC now owns 1,492,301 shares of the biotechnology company's stock valued at $13,401,000 after buying an additional 138,054 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Aurinia Pharmaceuticals during the first quarter valued at $10,014,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Aurinia Pharmaceuticals during the fourth quarter valued at $9,662,000. 36.83% of the stock is currently owned by institutional investors.

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.

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