Sierra Summit Advisors LLC Makes New $901,000 Investment in Aurinia Pharmaceuticals Inc $AUPH

Sierra Summit Advisors LLC bought a new stake in Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) (TSE:AUP) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 60,813 shares of the biotechnology company’s stock, valued at approximately $901,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. purchased a new stake in Aurinia Pharmaceuticals during the 4th quarter worth approximately $32,000. Northwestern Mutual Wealth Management Co. purchased a new position in Aurinia Pharmaceuticals in the 3rd quarter valued at approximately $48,000. Kemnay Advisory Services Inc. purchased a new position in Aurinia Pharmaceuticals in the 4th quarter valued at approximately $82,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Aurinia Pharmaceuticals by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,407 shares of the biotechnology company’s stock worth $102,000 after acquiring an additional 1,318 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Aurinia Pharmaceuticals by 32.4% in the second quarter. BNP Paribas Financial Markets now owns 13,034 shares of the biotechnology company’s stock worth $110,000 after acquiring an additional 3,191 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Weiss Ratings lowered Aurinia Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 15th. Zacks Research raised Aurinia Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.25.

Insider Activity

In other Aurinia Pharmaceuticals news, CEO Kevin Tang acquired 343,620 shares of the stock in a transaction dated Monday, June 1st. The stock was acquired at an average cost of $15.28 per share, with a total value of $5,250,513.60. Following the transaction, the chief executive officer owned 12,838,101 shares in the company, valued at $196,166,183.28. The trade was a 2.75% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders bought 814,606 shares of company stock worth $12,455,129. Corporate insiders own 12.20% of the company’s stock.

Aurinia Pharmaceuticals Price Performance

Aurinia Pharmaceuticals stock opened at $15.61 on Friday. The stock has a market cap of $2.01 billion, a P/E ratio of 7.19 and a beta of 1.41. The company has a fifty day simple moving average of $16.00 and a 200-day simple moving average of $15.37. Aurinia Pharmaceuticals Inc has a 12-month low of $7.36 and a 12-month high of $19.25. The company has a current ratio of 5.55, a quick ratio of 5.01 and a debt-to-equity ratio of 0.08.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last posted its earnings results on Thursday, May 7th. The biotechnology company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.18 by $0.07. Aurinia Pharmaceuticals had a return on equity of 26.62% and a net margin of 99.97%.The firm had revenue of $77.71 million for the quarter, compared to analyst estimates of $76.98 million. Equities analysts expect that Aurinia Pharmaceuticals Inc will post 0.82 EPS for the current fiscal year.

Aurinia Pharmaceuticals Profile

Aurinia Pharmaceuticals Inc is a clinical‐stage biopharmaceutical company focused on developing and commercializing therapies for autoimmune diseases. The company’s proprietary molecule, voclosporin, is designed to selectively inhibit calcineurin and reduce inflammation associated with autoimmune responses. Aurinia operates research and development facilities in Canada and the United States, leveraging collaborations with academic institutions and contract research organizations to advance its clinical pipeline.

The company’s lead product, voclosporin (marketed as LUPKYNIS), received approval from the U.S.