HC Wainwright Reiterates “Buy” Rating for Aurinia Pharmaceuticals (NASDAQ:AUPH)

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued on Friday, Benzinga reports. They presently have a $13.00 price target on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 79.06% from the company’s previous close.

Aurinia Pharmaceuticals Trading Up 5.1 %

Shares of Aurinia Pharmaceuticals stock opened at $7.26 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.33 and a quick ratio of 4.82. Aurinia Pharmaceuticals has a 1 year low of $4.71 and a 1 year high of $10.24. The firm has a market cap of $1.04 billion, a PE ratio of -16.88 and a beta of 1.44. The company has a 50 day simple moving average of $5.94 and a two-hundred day simple moving average of $5.53.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $57.10 million during the quarter, compared to analyst estimates of $54.25 million. Aurinia Pharmaceuticals had a negative return on equity of 11.84% and a negative net margin of 24.31%. The company’s revenue was up 37.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Analysts expect that Aurinia Pharmaceuticals will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Scott Michael Habig sold 18,249 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $5.31, for a total value of $96,902.19. Following the completion of the sale, the insider now owns 456,338 shares of the company’s stock, valued at approximately $2,423,154.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Aurinia Pharmaceuticals

A number of hedge funds have recently modified their holdings of AUPH. Armistice Capital LLC lifted its stake in shares of Aurinia Pharmaceuticals by 57.7% in the 4th quarter. Armistice Capital LLC now owns 9,536,000 shares of the biotechnology company’s stock valued at $85,729,000 after purchasing an additional 3,488,000 shares during the period. Goldman Sachs Group Inc. raised its position in Aurinia Pharmaceuticals by 39.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,048,456 shares of the biotechnology company’s stock worth $18,416,000 after acquiring an additional 576,120 shares during the period. Stonepine Capital Management LLC bought a new stake in Aurinia Pharmaceuticals during the second quarter valued at about $1,713,000. Campbell & CO Investment Adviser LLC purchased a new stake in Aurinia Pharmaceuticals in the 4th quarter worth approximately $2,089,000. Finally, GSA Capital Partners LLP lifted its stake in shares of Aurinia Pharmaceuticals by 196.1% during the 1st quarter. GSA Capital Partners LLP now owns 349,204 shares of the biotechnology company’s stock valued at $1,750,000 after buying an additional 231,260 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.

Aurinia Pharmaceuticals Company Profile

Aurinia Pharmaceuticals Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies to treat various diseases with unmet medical need in the United States. It offers LUPKYNIS for the treatment of adult patients with active lupus nephritis. It has a collaboration and license agreement with Otsuka Pharmaceutical Co, Ltd.