Shares of Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) (TSE:AUP) rose 6% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $6.07 and last traded at $6.05, with a volume of 1,287,399 shares traded. The stock had previously closed at $5.71.

The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.10. Aurinia Pharmaceuticals had a negative return on equity of 50.53% and a negative net margin of 48,278.23%. The business had revenue of $0.33 million for the quarter, compared to analysts’ expectations of $0.06 million.

AUPH has been the topic of a number of research reports. HC Wainwright lowered their price objective on Aurinia Pharmaceuticals from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, May 18th. Zacks Investment Research upgraded Aurinia Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday. Vetr cut Aurinia Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $6.74 price objective on the stock. in a research note on Monday, July 31st. Cantor Fitzgerald set a $14.00 price objective on Aurinia Pharmaceuticals and gave the company a “buy” rating in a research note on Friday. Finally, BidaskClub cut Aurinia Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $9.28.

Large investors have recently made changes to their positions in the stock. Candriam Luxembourg S.C.A. bought a new stake in shares of Aurinia Pharmaceuticals during the first quarter valued at $866,000. Hikari Power Ltd bought a new stake in shares of Aurinia Pharmaceuticals during the first quarter valued at $440,000. OTA Financial Group L.P. bought a new stake in shares of Aurinia Pharmaceuticals during the first quarter valued at $1,291,000. Bank of New York Mellon Corp bought a new stake in shares of Aurinia Pharmaceuticals during the first quarter valued at $595,000. Finally, TD Asset Management Inc. bought a new stake in shares of Aurinia Pharmaceuticals during the first quarter valued at $241,000. Hedge funds and other institutional investors own 29.48% of the company’s stock.

The firm’s 50 day moving average is $6.35 and its 200 day moving average is $6.13. The company’s market cap is $503.80 million.

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Aurinia Pharmaceuticals Company Profile

Aurinia Pharmaceuticals Inc is a Canada-based clinical-stage biopharmaceutical company operating in the field of nephrology and autoimmunity. The Company’s primary business is the development of a therapeutic drug to treat autoimmune diseases, in particular lupus nephritis (LN). It is focused on the development of its lead compound voclosporin, a therapeutic immunomodulating drug candidate, which is a second-generation calcineurin inhibitors (CNI) to treat patients afflicted with LN.

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