Zacks Research Downgrades Aurinia Pharmaceuticals (NASDAQ:AUPH) to Hold

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Separately, Weiss Ratings cut shares of Aurinia Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.25.

Aurinia Pharmaceuticals Trading Down 2.0%

Shares of AUPH stock opened at $15.33 on Tuesday. The stock has a 50-day simple moving average of $16.01 and a 200 day simple moving average of $15.36. The stock has a market capitalization of $1.97 billion, a P/E ratio of 7.06 and a beta of 1.41. Aurinia Pharmaceuticals has a fifty-two week low of $8.80 and a fifty-two week high of $19.25. The company has a quick ratio of 5.01, a current ratio of 5.55 and a debt-to-equity ratio of 0.08.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.18 by $0.07. Aurinia Pharmaceuticals had a net margin of 99.97% and a return on equity of 26.62%. The firm had revenue of $77.71 million for the quarter, compared to analysts’ expectations of $76.98 million. On average, sell-side analysts expect that Aurinia Pharmaceuticals will post 0.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Aurinia Pharmaceuticals

In related news, CEO Kevin Tang bought 206,005 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were acquired at an average cost of $15.28 per share, for a total transaction of $3,147,756.40. Following the acquisition, the chief executive officer directly owned 13,044,106 shares of the company’s stock, valued at $199,313,939.68. The trade was a 1.60% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders acquired 814,606 shares of company stock worth $12,455,129. Company insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Aurinia Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BOK Financial Private Wealth Inc. acquired a new stake in Aurinia Pharmaceuticals during the 4th quarter worth about $32,000. Frazier Financial Advisors LLC boosted its holdings 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 buying an additional 2,793 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Aurinia Pharmaceuticals in the third quarter worth about $48,000. Kemnay Advisory Services Inc. purchased a new position in shares of Aurinia Pharmaceuticals in the fourth quarter worth approximately $82,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Aurinia Pharmaceuticals by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,407 shares of the biotechnology company’s stock worth $102,000 after acquiring an additional 1,318 shares in the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

Aurinia Pharmaceuticals Company Profile

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.