HC Wainwright Reaffirms “Buy” Rating for Aurinia Pharmaceuticals (NASDAQ:AUPH)

HC Wainwright restated their buy rating on shares of Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) in a report issued on Friday, Benzinga reports. HC Wainwright currently has a $13.00 price objective on the biotechnology company’s stock.

Aurinia Pharmaceuticals Stock Up 5.1 %

NASDAQ:AUPH opened at $7.26 on Friday. Aurinia Pharmaceuticals has a 12-month low of $4.71 and a 12-month high of $10.24. The company has a quick ratio of 4.82, a current ratio of 5.33 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.04 billion, a P/E ratio of -16.88 and a beta of 1.44. The stock’s fifty day simple moving average is $5.94 and its 200-day simple moving average is $5.53.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last posted its earnings results on Thursday, August 1st. The biotechnology company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $57.10 million for the quarter, compared to analyst estimates of $54.25 million. Aurinia Pharmaceuticals had a negative return on equity of 11.84% and a negative net margin of 24.31%. The company’s revenue for the quarter was up 37.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) earnings per share. Equities research analysts expect that Aurinia Pharmaceuticals will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In other Aurinia Pharmaceuticals news, insider Scott Michael Habig sold 18,249 shares of Aurinia Pharmaceuticals stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $5.31, for a total transaction of $96,902.19. Following the transaction, the insider now directly owns 456,338 shares in the company, valued at $2,423,154.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Aurinia Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of AUPH. Tidemark LLC acquired a new stake in shares of Aurinia Pharmaceuticals in the 4th quarter valued at about $39,000. Eagle Asset Management Inc. acquired a new stake in shares of Aurinia Pharmaceuticals in the 4th quarter valued at about $92,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Aurinia Pharmaceuticals in the 4th quarter valued at about $2,089,000. Armistice Capital LLC raised its stake in shares of Aurinia Pharmaceuticals by 57.7% in the 4th quarter. Armistice Capital LLC now owns 9,536,000 shares of the biotechnology company’s stock valued at $85,729,000 after purchasing an additional 3,488,000 shares during the period. Finally, Privium Fund Management UK Ltd acquired a new stake in shares of Aurinia Pharmaceuticals in the 4th quarter valued at about $593,000. Institutional investors and hedge funds own 36.83% of the company’s stock.

About Aurinia Pharmaceuticals

Aurinia Pharmaceuticals Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies to treat various diseases with unmet medical need in the United States. It offers LUPKYNIS for the treatment of adult patients with active lupus nephritis. It has a collaboration and license agreement with Otsuka Pharmaceutical Co, Ltd.