Aurinia Pharmaceuticals (NASDAQ:AUPH) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) (TSE:AUP)’s share price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $16.05 and traded as high as $16.16. Aurinia Pharmaceuticals shares last traded at $16.01, with a volume of 682,529 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on AUPH shares. Wall Street Zen cut shares of Aurinia Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Bloom Burton raised Aurinia Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 20th. Zacks Research lowered Aurinia Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Weiss Ratings raised Aurinia Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 26th. Finally, Royal Bank Of Canada lifted their target price on Aurinia Pharmaceuticals from $15.00 to $16.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Aurinia Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $17.67.

Aurinia Pharmaceuticals Trading Up 2.7%

The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 7.27 and a beta of 1.60. 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 business has a 50-day moving average of $16.07 and a 200-day moving average of $15.88.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last posted its quarterly 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 firm had revenue of $58.57 million for the quarter, compared to analyst estimates of $80.45 million. Aurinia Pharmaceuticals had a return on equity of 26.11% and a net margin of 100.84%. Research analysts anticipate that Aurinia Pharmaceuticals Inc will post 0.9 EPS for the current year.

Institutional Trading of Aurinia Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in AUPH. Nykredit A S acquired a new position in shares of Aurinia Pharmaceuticals during the 2nd quarter worth about $35,000. Global Retirement Partners LLC acquired a new stake in Aurinia Pharmaceuticals in the 2nd quarter valued at about $41,000. Quantbot Technologies LP bought a new position in Aurinia Pharmaceuticals during the second quarter worth about $45,000. Frazier Financial Advisors LLC increased its position in Aurinia Pharmaceuticals by 411.9% during the first quarter. Frazier Financial Advisors LLC now owns 3,471 shares of the biotechnology company’s stock worth $51,000 after buying an additional 2,793 shares during the last quarter. Finally, Allworth Financial LP acquired a new position in Aurinia Pharmaceuticals during the second quarter worth approximately $56,000. 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.