Aurinia Pharmaceuticals (NASDAQ:AUPH) Sets New 12-Month High – Here’s What Happened

Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) (TSE:AUP) reached a new 52-week high on Tuesday . The company traded as high as $16.54 and last traded at $16.4650, with a volume of 394697 shares trading hands. The stock had previously closed at $16.06.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Aurinia Pharmaceuticals in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.25.

Aurinia Pharmaceuticals Trading Up 2.0%

The company has a market cap of $2.18 billion, a price-to-earnings ratio of 7.89 and a beta of 1.51. The company’s fifty day moving average price is $14.66 and its two-hundred day moving average price is $14.46. The company has a quick ratio of 4.76, a current ratio of 5.25 and a debt-to-equity ratio of 0.09.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last posted its quarterly earnings data on Thursday, February 26th. The biotechnology company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $0.21 by $1.32. The company had revenue of $77.11 million during the quarter, compared to analyst estimates of $74.70 million. Aurinia Pharmaceuticals had a net margin of 101.46% and a return on equity of 27.47%. Research analysts expect that Aurinia Pharmaceuticals Inc will post 0.11 earnings per share for the current year.

Insider Buying and Selling at Aurinia Pharmaceuticals

In other news, Director Kevin Tang acquired 516,439 shares of the company’s stock in a transaction dated Friday, February 27th. The stock was bought at an average price of $13.99 per share, with a total value of $7,224,981.61. Following the completion of the acquisition, the director owned 11,845,939 shares in the company, valued at approximately $165,724,686.61. This represents a 4.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 12.20% of the company’s stock.

Institutional Trading of Aurinia Pharmaceuticals

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of Aurinia Pharmaceuticals by 21.7% during the third quarter. JPMorgan Chase & Co. now owns 533,290 shares of the biotechnology company’s stock worth $5,893,000 after buying an additional 94,941 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of Aurinia Pharmaceuticals during the third quarter valued at approximately $934,000. Marex Group plc bought a new stake in shares of Aurinia Pharmaceuticals during the second quarter valued at approximately $1,143,000. Navellier & Associates Inc. bought a new stake in shares of Aurinia Pharmaceuticals during the third quarter valued at approximately $926,000. Finally, Squarepoint Ops LLC grew its stake in shares of Aurinia Pharmaceuticals by 195.4% during the second quarter. Squarepoint Ops LLC now owns 483,937 shares of the biotechnology company’s stock valued at $4,099,000 after purchasing an additional 320,124 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

About Aurinia Pharmaceuticals

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.