Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) (TSE:AUP) shares dropped 1.9% during mid-day trading on Wednesday . The company traded as low as $6.33 and last traded at $6.45. Approximately 897,636 shares traded hands during trading, a decline of 28% from the average daily volume of 1,253,440 shares. The stock had previously closed at $6.33.

A number of analysts recently weighed in on AUPH shares. Vetr downgraded shares of Aurinia Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $6.74 target price on the stock. in a report on Monday, July 31st. Zacks Investment Research upgraded shares of Aurinia Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Tuesday, August 15th. BidaskClub downgraded shares of Aurinia Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Cantor Fitzgerald set a $14.00 target price on shares of Aurinia Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Aurinia Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $9.79.

The firm’s 50-day moving average is $6.30 and its 200-day moving average is $6.62. The stock’s market capitalization is $347.28 million.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last announced its quarterly earnings data on Thursday, August 10th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.10. Aurinia Pharmaceuticals had a negative return on equity of 28.61% and a negative net margin of 16,648.93%. The company had revenue of $0.33 million for the quarter, compared to analysts’ expectations of $0.06 million. Equities analysts anticipate that Aurinia Pharmaceuticals Inc will post ($0.94) EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in AUPH. FMR LLC bought a new stake in Aurinia Pharmaceuticals during the 1st quarter valued at $42,928,000. Goldman Sachs Group Inc. boosted its position in Aurinia Pharmaceuticals by 357.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 876,461 shares of the biotechnology company’s stock valued at $5,373,000 after acquiring an additional 684,816 shares in the last quarter. Morgan Stanley boosted its position in Aurinia Pharmaceuticals by 11,061.7% during the 1st quarter. Morgan Stanley now owns 446,135 shares of the biotechnology company’s stock valued at $3,273,000 after acquiring an additional 442,138 shares in the last quarter. Vivo Capital LLC boosted its position in Aurinia Pharmaceuticals by 68.9% during the 2nd quarter. Vivo Capital LLC now owns 1,013,149 shares of the biotechnology company’s stock valued at $6,211,000 after acquiring an additional 413,149 shares in the last quarter. Finally, UBS Oconnor LLC bought a new stake in Aurinia Pharmaceuticals during the 1st quarter valued at $2,936,000. 27.76% of the stock is currently owned by institutional investors and hedge funds.

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About Aurinia Pharmaceuticals

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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