Aurinia Pharmaceuticals (NASDAQ:AUPH) Upgraded at Zacks Investment Research

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $7.00 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.11% from the company’s current price.

According to Zacks, “Aurinia Pharmaceuticals Inc. is a late stage biopharmaceutical company. It focuses on the development of therapeutic immunomodulating drug candidate. The company’s lead drug includes Voclosporin for the treatment of lupus nephritis. Aurinia Pharmaceuticals Inc. is headquartered in Victoria, Canada. “

Other analysts have also issued reports about the company. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Aurinia Pharmaceuticals in a report on Tuesday, June 4th. BidaskClub raised Aurinia Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Cantor Fitzgerald reiterated a “buy” rating and set a $24.00 price target (up previously from $18.00) on shares of Aurinia Pharmaceuticals in a research report on Tuesday, March 19th. Royal Bank of Canada increased their price target on Aurinia Pharmaceuticals from $9.00 to $11.00 and gave the stock a “positive” rating in a research report on Wednesday, March 20th. Finally, Raymond James increased their price target on Aurinia Pharmaceuticals from $9.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $15.60.

Aurinia Pharmaceuticals stock opened at $6.30 on Tuesday. Aurinia Pharmaceuticals has a 52 week low of $5.06 and a 52 week high of $7.85.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last posted its earnings results on Tuesday, March 19th. The biotechnology company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The company had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.05 million. Aurinia Pharmaceuticals had a negative return on equity of 48.36% and a negative net margin of 8,435.08%. As a group, sell-side analysts anticipate that Aurinia Pharmaceuticals will post -0.65 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of AUPH. Redmile Group LLC purchased a new stake in shares of Aurinia Pharmaceuticals during the 1st quarter worth approximately $2,101,000. Coastal Investment Advisors Inc. purchased a new stake in shares of Aurinia Pharmaceuticals during the 1st quarter worth approximately $70,000. Renaissance Technologies LLC purchased a new stake in shares of Aurinia Pharmaceuticals during the 1st quarter worth approximately $1,168,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Aurinia Pharmaceuticals during the 1st quarter worth approximately $99,000. Finally, Knott David M purchased a new stake in shares of Aurinia Pharmaceuticals during the 1st quarter worth approximately $343,000. Institutional investors own 32.54% of the company’s stock.

Aurinia Pharmaceuticals Company Profile

Aurinia Pharmaceuticals Inc, a clinical stage biopharmaceutical company, engages in the research, development, and commercialization of therapeutic drugs for the treatment of various diseases in the United States and China. The company is involved in developing voclosporin, an investigational drug for the treatment of lupus nephritis, dry eye syndrome, and focal segmental glomerulosclerosis.

Featured Article: What is Elliott Wave theory?

Get a free copy of the Zacks research report on Aurinia Pharmaceuticals (AUPH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Aurinia Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aurinia Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.