Aurinia Pharmaceuticals (NASDAQ:AUPH) Shares Break Above Fifty Day Moving Average - Here's Why

Key Points

• Aurinia Pharmaceuticals shares rose above their 50-day moving average, reaching $16.73 and last trading at $16.56; the 50-day average was $16.48.
• Analysts give the stock a consensus “Moderate Buy” rating, with an average price target of $18.25. Recent target increases from RBC and TD Cowen put their objectives at $18.
• Quarterly results slightly beat expectations: earnings were $0.23 per share versus $0.22 forecast, and revenue was $83.70 million versus $83.61 million expected.

Aurinia Pharmaceuticals Inc (NASDAQ:AUPH - Get Free Report) TSE: AUP's share price crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $16.48 and traded as high as $16.73. Aurinia Pharmaceuticals shares last traded at $16.56, with a volume of 1,183,760 shares traded.

Analyst Upgrades and Downgrades

AUPH has been the topic of several recent analyst reports. Zacks Research lowered Aurinia Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 21st. Bloom Burton upgraded Aurinia Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 20th. Royal Bank Of Canada increased their price objective on Aurinia Pharmaceuticals from $16.00 to $18.00 and gave the stock a "sector perform" rating in a research note on Monday. Weiss Ratings raised Aurinia Pharmaceuticals from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 22nd. Finally, TD Cowen boosted their target price on shares of Aurinia Pharmaceuticals from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Aurinia Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $18.25.

Aurinia Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 6.12 and a quick ratio of 4.97. The stock has a market capitalization of $2.22 billion, a P/E ratio of 7.23 and a beta of 1.40. The company's 50 day simple moving average is $16.48 and its two-hundred day simple moving average is $15.66.

Aurinia Pharmaceuticals (NASDAQ:AUPH - Get Free Report) TSE: AUP last posted its earnings results on Friday, October 30th. The biotechnology company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. The company had revenue of $83.70 million during 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 22.99%. As a group, equities analysts expect that Aurinia Pharmaceuticals Inc will post 0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Aurinia Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of AUPH. Allworth Financial LP lifted its position in Aurinia Pharmaceuticals by 34.9% during the 2nd quarter. Allworth Financial LP now owns 3,307 shares of the biotechnology company's stock worth $56,000 after buying an additional 855 shares in the last quarter. GAMMA Investing LLC grew its holdings in Aurinia Pharmaceuticals by 22.2% during the 3rd quarter. GAMMA Investing LLC now owns 5,317 shares of the biotechnology company's stock worth $86,000 after acquiring an additional 967 shares during the last quarter. State of Wyoming increased its position in Aurinia Pharmaceuticals by 7.8% in the 3rd quarter. State of Wyoming now owns 14,584 shares of the biotechnology company's stock valued at $236,000 after acquiring an additional 1,056 shares in the last quarter. Signaturefd LLC increased its position in Aurinia Pharmaceuticals by 360.0% in the 3rd quarter. Signaturefd LLC now owns 1,794 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 1,404 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Aurinia Pharmaceuticals by 15.5% in the 1st quarter. First Trust Advisors LP now owns 14,065 shares of the biotechnology company's stock valued at $208,000 after acquiring an additional 1,883 shares in the last quarter. 36.83% of the stock is owned by institutional investors and hedge funds.

Aurinia Pharmaceuticals Company Profile

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.

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