Aurinia Pharmaceuticals (NASDAQ:AUPH) Shares Break Above Fifty Day Moving Average – Here’s Why

Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) (TSE:AUP)’s share price passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $16.48 and traded as high as $16.73. Aurinia Pharmaceuticals shares last traded at $16.56, with a volume of 1,183,760 shares changing hands.

Analyst Ratings Changes

Several research analysts recently weighed in on AUPH shares. Bloom Burton upgraded shares of Aurinia Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. Zacks Research lowered Aurinia Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Weiss Ratings raised Aurinia Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 22nd. TD Cowen lifted their target price on Aurinia Pharmaceuticals from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. Finally, Royal Bank Of Canada boosted their target price on Aurinia Pharmaceuticals from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Aurinia Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $18.25.

Aurinia Pharmaceuticals Price Performance

The company has a current ratio of 6.12, a quick ratio of 4.97 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $2.22 billion, a P/E ratio of 7.23 and a beta of 1.40. The company has a fifty day simple moving average of $16.48 and a two-hundred day simple moving average of $15.66.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last issued its earnings results on Friday, October 30th. The biotechnology company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. The company had revenue of $83.70 million for the quarter, compared to analyst estimates of $83.61 million. Aurinia Pharmaceuticals had a net margin of 97.68% and a return on equity of 22.99%. Sell-side analysts expect that Aurinia Pharmaceuticals Inc will post 0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Aurinia Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ethic Inc. acquired a new position in Aurinia Pharmaceuticals in the third quarter valued at approximately $167,000. Abacus Wealth Partners LLC grew its holdings in Aurinia Pharmaceuticals by 49.8% during the 3rd quarter. Abacus Wealth Partners LLC now owns 20,694 shares of the biotechnology company’s stock worth $335,000 after acquiring an additional 6,880 shares during the period. Calamos Advisors LLC acquired a new stake in Aurinia Pharmaceuticals during the 3rd quarter worth $179,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Aurinia Pharmaceuticals during the 3rd quarter worth $110,000. Finally, State of Wyoming grew its holdings in Aurinia Pharmaceuticals by 7.8% during the 3rd quarter. State of Wyoming now owns 14,584 shares of the biotechnology company’s stock worth $236,000 after acquiring an additional 1,056 shares during the period. 36.83% of the stock is owned by institutional investors.

Aurinia Pharmaceuticals Company Profile

Aurinia Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing therapies for autoimmune diseases. The company’s principal product is Lupkynis (voclosporin), an oral calcineurin inhibitor used in combination with other immunosuppressive therapies to treat adults with active lupus nephritis, a serious kidney complication of systemic lupus erythematosus.

Voclosporin was approved by the U.S. Food and Drug Administration in 2021, making Lupkynis the first oral therapy specifically approved in the United States for adult patients with active lupus nephritis.