Aurinia Pharmaceuticals (NASDAQ:AUPH) Upgraded to Strong-Buy at Zacks Research

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Separately, Weiss Ratings lowered Aurinia Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Aurinia Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $17.25.

Aurinia Pharmaceuticals Stock Up 1.1%

Aurinia Pharmaceuticals stock opened at $16.97 on Monday. 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 stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 7.82 and a beta of 1.41. Aurinia Pharmaceuticals has a 1-year low of $7.28 and a 1-year high of $19.25. The business has a fifty day moving average price of $16.01 and a 200-day moving average price of $15.37.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last announced its earnings results on Thursday, May 7th. The biotechnology company reported $0.25 earnings per share for the quarter, topping 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 the consensus estimate of $76.98 million. Equities research analysts forecast that Aurinia Pharmaceuticals will post 0.82 EPS for the current fiscal year.

Insider Activity at Aurinia Pharmaceuticals

In related news, CEO Kevin Tang acquired 206,005 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was acquired at an average cost of $15.28 per share, for a total transaction of $3,147,756.40. Following the completion of the purchase, the chief executive officer owned 13,044,106 shares of the company’s stock, valued at approximately $199,313,939.68. This represents a 1.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 814,606 shares of company stock worth $12,455,129 in the last three months. Insiders own 12.20% of the company’s stock.

Hedge Funds Weigh In On Aurinia Pharmaceuticals

A number of hedge funds and other institutional investors have 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 valued at about $32,000. Frazier Financial Advisors LLC raised its stake in shares of Aurinia Pharmaceuticals by 411.9% in the first quarter. Frazier Financial Advisors LLC now owns 3,471 shares of the biotechnology company’s stock worth $51,000 after purchasing an additional 2,793 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Aurinia Pharmaceuticals in the third quarter worth about $48,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Aurinia Pharmaceuticals during the fourth quarter worth about $82,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Aurinia Pharmaceuticals by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,407 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 1,318 shares during the period. Hedge funds and other institutional investors 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.