Aurinia Pharmaceuticals (NASDAQ:AUPH) Stock Price Breaks Above 50-Day Moving Average - Here's What Happened

Key Points

• Aurinia Pharmaceuticals shares broke above their 50-day moving average, reaching $17.30 before closing at $16.73, up 0.7%. The stock’s 50-day average was $16.22.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $17.67, although recent recommendations ranged from Hold to Strong Buy.
• The company exceeded quarterly earnings expectations, reporting $0.28 in EPS versus $0.24 forecast, while revenue of $58.57 million fell short of the $80.45 million estimate. Institutional investors and hedge funds own 36.83% of the stock.

Shares of Aurinia Pharmaceuticals Inc (NASDAQ:AUPH - Get Free Report) TSE: AUP passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $16.22 and traded as high as $17.30. Aurinia Pharmaceuticals shares last traded at $16.73, with a volume of 1,031,788 shares traded.

Analyst Ratings Changes

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

Aurinia Pharmaceuticals Stock Up 0.7%

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 firm has a 50 day simple moving average of $16.22 and a 200-day simple moving average of $15.96. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 7.31 and a beta of 1.60.

Aurinia Pharmaceuticals (NASDAQ:AUPH - Get Free Report) TSE: AUP last posted its earnings results on Thursday, August 6th. The biotechnology company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. The business had revenue of $58.57 million for the quarter, compared to analyst estimates of $80.45 million. Aurinia Pharmaceuticals had a net margin of 100.84% and a return on equity of 26.11%. On average, sell-side analysts forecast that Aurinia Pharmaceuticals Inc will post 0.90 EPS for the current fiscal year.

Hedge Funds Weigh In On Aurinia Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of AUPH. State of Alaska Department of Revenue lifted its position in Aurinia Pharmaceuticals by 129.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 19,570 shares of the biotechnology company's stock worth $316,000 after buying an additional 11,027 shares in the last quarter. GAMMA Investing LLC increased its position in Aurinia Pharmaceuticals by 22.2% in the 3rd quarter. GAMMA Investing LLC now owns 5,317 shares of the biotechnology company's stock valued at $86,000 after acquiring an additional 967 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Aurinia Pharmaceuticals in the 2nd quarter valued at about $60,000. IFP Advisors Inc raised its stake in shares of Aurinia Pharmaceuticals by 10.3% in the second quarter. IFP Advisors Inc now owns 361,634 shares of the biotechnology company's stock worth $6,137,000 after acquiring an additional 33,843 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of Aurinia Pharmaceuticals by 34.9% in the second quarter. Allworth Financial LP now owns 3,307 shares of the biotechnology company's stock worth $56,000 after acquiring an additional 855 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company's stock.

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.

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