Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) reached a new 52-week high on Monday, with shares trading at a peak of $16.50. The stock ultimately closed at $16.4450, reflecting a trading volume of 323,410 shares. This increase follows a previous close at $16.18.
Analyst Ratings and Market Position
Recent reports from various brokerages have highlighted shifting opinions on Aurinia’s stock. On October 8, 2023, Weiss Ratings reiterated a “hold (c)” rating. In contrast, Bloom Burton downgraded its recommendation from a “moderate buy” to a “hold” on November 5, 2023. Meanwhile, Leerink Partners also adjusted their stance, moving from “strong-buy” to “hold” in a report dated December 3, 2023.
Notably, Jefferies Financial Group upgraded the company from “hold” to “buy,” increasing their price target from $10.00 to $21.00 in a research note released on November 7, 2023. The Royal Bank Of Canada maintained a “sector perform” rating, adjusting their target price for Aurinia from $9.00 to $15.00. Overall, MarketBeat indicates that the consensus rating stands at “Hold” with an average target price of $17.25.
Financial Performance and Institutional Interest
Aurinia Pharmaceuticals announced its quarterly earnings on November 4, 2023, revealing earnings per share (EPS) of $0.23, surpassing analysts’ estimates of $0.16 by $0.07. The company reported revenues of $73.47 million, exceeding projected revenues of $67.70 million. This strong financial performance is reflected in a return on equity of 25.19% and a net margin of 29.28%.
Institutional investors have shown increased interest in Aurinia’s shares. Wealth Enhancement Advisory Services LLC boosted its stake by 20.8%, owning 12,989 shares valued at approximately $110,000. IFP Advisors Inc also raised their holdings by 0.9%, acquiring an additional 2,346 shares during the last quarter, bringing their total to 262,380 shares valued at $2.91 million.
Other institutions, such as Vanguard Personalized Indexing Management LLC and BNP Paribas Financial Markets, have similarly increased their positions in Aurinia. Currently, institutional investors and hedge funds collectively own 36.83% of the company’s stock.
Aurinia Pharmaceuticals, based in both Canada and the United States, focuses on developing therapies for autoimmune diseases. Their leading product, voclosporin, is designed to inhibit calcineurin and reduce inflammation linked to autoimmune responses. The company leverages collaborations with academic institutions and contract research organizations to advance its clinical pipeline.
