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

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

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

Aurinia Pharmaceuticals Stock Performance

Shares of Aurinia Pharmaceuticals stock opened at $15.33 on Tuesday. The stock has a market cap of $1.97 billion, a PE ratio of 7.06 and a beta of 1.41. The business has a fifty day simple moving average of $16.01 and a 200-day simple moving average of $15.36. 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 has a 12 month low of $8.80 and a 12 month high of $19.25.

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

Insiders Place Their Bets

In related news, CEO Kevin Tang acquired 343,620 shares of the company’s stock in a transaction on Monday, June 1st. The shares were purchased at an average price of $15.28 per share, for a total transaction of $5,250,513.60. Following the purchase, the chief executive officer owned 12,838,101 shares in the company, valued at $196,166,183.28. This represents a 2.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have purchased 814,606 shares of company stock valued at $12,455,129. 10.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aurinia Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. BOK Financial Private Wealth Inc. acquired a new position in shares of Aurinia Pharmaceuticals in the fourth quarter worth $32,000. Frazier Financial Advisors LLC raised its holdings in shares of Aurinia Pharmaceuticals by 411.9% during the first quarter. Frazier Financial Advisors LLC now owns 3,471 shares of the biotechnology company’s stock worth $51,000 after acquiring an additional 2,793 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Aurinia Pharmaceuticals during the third quarter valued at $48,000. Kemnay Advisory Services Inc. acquired a new stake in Aurinia Pharmaceuticals during the fourth quarter valued at $82,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in 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 valued at $102,000 after purchasing an additional 1,318 shares in the last quarter. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

About Aurinia Pharmaceuticals

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.