Aurinia Pharmaceuticals (NASDAQ:AUPH) Share Price Breaks Above Fifty Day Moving Average - Here's What Happened

Key Points

• Aurinia Pharmaceuticals shares rose 2% and briefly moved above their 50-day moving average of $16.05, trading as high as $16.16.
• Analyst sentiment remains favorable overall, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $17.67.
• The company beat quarterly EPS expectations, reporting $0.28 versus the $0.24 consensus, although revenue of $58.57 million fell short of the $80.45 million estimate.

Aurinia Pharmaceuticals Inc (NASDAQ:AUPH - Get Free Report) TSE: AUP crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $16.05 and traded as high as $16.16. Aurinia Pharmaceuticals shares last traded at $16.01, with a volume of 682,529 shares.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AUPH shares. Royal Bank Of Canada raised their target price on Aurinia Pharmaceuticals from $15.00 to $16.00 and gave the company a "sector perform" rating in a report on Friday, August 7th. Wall Street Zen lowered Aurinia Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Bloom Burton raised Aurinia Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 20th. Weiss Ratings upgraded shares of Aurinia Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 26th. Finally, Zacks Research lowered shares of Aurinia Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $17.67.

Aurinia Pharmaceuticals Stock Up 2.0%

The company has a debt-to-equity ratio of 0.07, a current ratio of 5.42 and a quick ratio of 4.97. The stock has a market capitalization of $2.13 billion, a P/E ratio of 6.99 and a beta of 1.60. The firm has a 50 day moving average of $16.05 and a 200-day moving average of $15.87.

Aurinia Pharmaceuticals (NASDAQ:AUPH - Get Free Report) TSE: AUP last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.24 by $0.04. Aurinia Pharmaceuticals had a return on equity of 26.11% and a net margin of 100.84%.The firm had revenue of $58.57 million during the quarter, compared to analysts' expectations of $80.45 million. On average, equities research analysts expect that Aurinia Pharmaceuticals Inc will post 0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AUPH. BlackRock Inc. bought a new stake in Aurinia Pharmaceuticals in the second quarter valued at about $139,037,000. Renaissance Technologies LLC raised its position in 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 in the last quarter. Allianz Asset Management GmbH bought a new position in Aurinia Pharmaceuticals during the second quarter worth about $14,284,000. Janus Henderson Group PLC lifted its stake in 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 purchasing an additional 66,806 shares during the period. Finally, Jupiter Topco LLC acquired a new stake in Aurinia Pharmaceuticals during the second quarter valued at approximately $10,219,000. 36.83% of the stock is owned by institutional investors.

Aurinia Pharmaceuticals Company Profile

Aurinia Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing therapies for autoimmune diseases. The company's primary product is Lupkynis (voclosporin), an oral calcineurin inhibitor used in combination with background immunosuppressive therapy to treat adult patients with active lupus nephritis, a serious kidney complication of systemic lupus erythematosus.

Lupkynis was approved by the U.S. Food and Drug Administration in 2021 and subsequently authorized in Canada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.