Royal Bank Of Canada Increases Aurinia Pharmaceuticals (NASDAQ:AUPH) Price Target to $9.00

Key Points

• Royal Bank of Canada raised its price target for Aurinia Pharmaceuticals from $8.00 to $9.00, maintaining an "outperform" rating on the stock.
• HC Wainwright also reaffirmed a "buy" rating for Aurinia Pharmaceuticals with a higher price target of $17.00.
• Aurinia Pharmaceuticals reported a quarterly earnings miss of $0.16 per share, slightly below analysts' expectations, but exceeded revenue estimates with $70.01 million for the quarter.

Aurinia Pharmaceuticals (NASDAQ:AUPH - Get Free Report) TSE: AUP had its price target upped by equities research analysts at Royal Bank Of Canada from $8.00 to $9.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the biotechnology company's stock. Royal Bank Of Canada's price objective points to a potential downside of 9.73% from the company's current price.

Separately, HC Wainwright reaffirmed a "buy" rating and set a $17.00 price target on shares of Aurinia Pharmaceuticals in a research report on Wednesday.

Aurinia Pharmaceuticals Stock Performance

NASDAQ:AUPH traded up $0.72 during trading hours on Friday, reaching $9.97. The stock had a trading volume of 2,836,774 shares, compared to its average volume of 1,500,410. The company has a debt-to-equity ratio of 0.16, a quick ratio of 5.26 and a current ratio of 5.93. The stock has a 50 day simple moving average of $8.30 and a 200 day simple moving average of $8.11. Aurinia Pharmaceuticals has a 12-month low of $5.20 and a 12-month high of $10.67. The stock has a market cap of $1.35 billion, a P/E ratio of 35.70 and a beta of 1.16.

Aurinia Pharmaceuticals (NASDAQ:AUPH - Get Free Report) TSE: AUP last released its earnings results on Thursday, July 31st. The biotechnology company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The company had revenue of $70.01 million during the quarter, compared to the consensus estimate of $64.27 million. Aurinia Pharmaceuticals had a net margin of 16.11% and a return on equity of 14.27%. On average, research analysts forecast that Aurinia Pharmaceuticals will post 0.11 EPS for the current fiscal year.

Institutional Trading of Aurinia Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new position in Aurinia Pharmaceuticals during the 4th quarter valued at about $27,000. Tower Research Capital LLC TRC raised its holdings in shares of Aurinia Pharmaceuticals by 368.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,350 shares of the biotechnology company's stock worth $30,000 after acquiring an additional 2,635 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in shares of Aurinia Pharmaceuticals during the 4th quarter valued at $31,000. GAMMA Investing LLC raised its holdings in shares of Aurinia Pharmaceuticals by 56.1% during the 1st quarter. GAMMA Investing LLC now owns 4,852 shares of the biotechnology company's stock valued at $39,000 after purchasing an additional 1,744 shares in the last quarter. Finally, MAI Capital Management bought a new position in shares of Aurinia Pharmaceuticals during the 1st quarter valued at $39,000. Institutional investors and hedge funds own 36.83% of the company's stock.

About Aurinia Pharmaceuticals

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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