Aurinia Pharmaceuticals (NASDAQ:AUPH) Releases Earnings Results, Beats Estimates By $0.04 EPS

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) posted its quarterly earnings results on Thursday. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04, FiscalAI reports. The business had revenue of $58.57 million during the quarter, compared to the consensus estimate of $80.45 million. Aurinia Pharmaceuticals had a net margin of 99.97% and a return on equity of 26.62%.

Aurinia Pharmaceuticals Stock Up 6.2%

Shares of AUPH stock traded up $0.94 during trading hours on Thursday, reaching $16.13. The company had a trading volume of 2,235,261 shares, compared to its average volume of 1,256,978. Aurinia Pharmaceuticals has a 12 month low of $10.34 and a 12 month high of $19.25. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.55 and a quick ratio of 5.01. The business has a fifty day simple moving average of $15.92 and a 200-day simple moving average of $15.34. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 7.43 and a beta of 1.42.

Insider Activity

In related news, CEO Kevin Tang purchased 343,620 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average price of $15.28 per share, for a total transaction of $5,250,513.60. Following the completion of the acquisition, the chief executive officer owned 12,838,101 shares of the company’s stock, valued at $196,166,183.28. This represents 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. Insiders purchased a total of 814,606 shares of company stock worth $12,455,129 over the last 90 days. 10.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Aurinia Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its stake in shares of Aurinia Pharmaceuticals by 213.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,374,021 shares of the biotechnology company’s stock worth $37,283,000 after buying an additional 2,297,903 shares during the last quarter. Marshall Wace LLP lifted its holdings in Aurinia Pharmaceuticals by 1,272.5% during the third quarter. Marshall Wace LLP now owns 1,483,132 shares of the biotechnology company’s stock worth $16,389,000 after acquiring an additional 1,375,072 shares during the period. Kotler Kevin purchased a new position in Aurinia Pharmaceuticals in the fourth quarter worth $19,536,000. Two Sigma Investments LP grew its stake in Aurinia Pharmaceuticals by 728.6% in the 3rd quarter. Two Sigma Investments LP now owns 1,341,067 shares of the biotechnology company’s stock valued at $14,819,000 after purchasing an additional 1,179,219 shares during the period. Finally, Man Group plc increased its holdings in Aurinia Pharmaceuticals by 368.9% during the fourth quarter. Man Group plc now owns 852,671 shares of the biotechnology company’s stock worth $13,600,000 after buying an additional 670,812 shares during the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on AUPH shares. Weiss Ratings downgraded shares of Aurinia Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 15th. Zacks Research cut shares of Aurinia Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $17.33.

Aurinia Pharmaceuticals Company 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.