Aurinia Pharmaceuticals (NASDAQ:AUPH) Shares Down 5.2% – Time to Sell?

Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) (TSE:AUP)’s share price dropped 5.2% during trading on Wednesday . The company traded as low as $14.82 and last traded at $15.09. Approximately 710,077 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 1,663,782 shares. The stock had previously closed at $15.91.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AUPH. Jefferies Financial Group raised Aurinia Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the stock from $10.00 to $21.00 in a research note on Friday, November 7th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $15.00 target price (up from $9.00) on shares of Aurinia Pharmaceuticals in a report on Wednesday, November 5th. Bloom Burton lowered shares of Aurinia Pharmaceuticals from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Aurinia Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Leerink Partners downgraded shares of Aurinia Pharmaceuticals from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $15.00 to $16.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.25.

Aurinia Pharmaceuticals Stock Down 4.2%

The stock’s 50-day moving average price is $13.37 and its two-hundred day moving average price is $11.11. The company has a current ratio of 5.76, a quick ratio of 5.17 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.01 billion, a P/E ratio of 27.21 and a beta of 1.42.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.07. The business had revenue of $73.47 million during the quarter, compared to analyst estimates of $67.70 million. Aurinia Pharmaceuticals had a return on equity of 25.19% and a net margin of 29.28%. As a group, research analysts expect that Aurinia Pharmaceuticals Inc will post 0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aurinia Pharmaceuticals

Several large investors have recently modified their holdings of AUPH. Hussman Strategic Advisors Inc. lifted its holdings in shares of Aurinia Pharmaceuticals by 70.0% in the second quarter. Hussman Strategic Advisors Inc. now owns 357,000 shares of the biotechnology company’s stock worth $3,024,000 after buying an additional 147,000 shares in the last quarter. Strs Ohio bought a new stake in shares of Aurinia Pharmaceuticals during the 1st quarter valued at $636,000. Public Employees Retirement System of Ohio bought a new stake in Aurinia Pharmaceuticals during the second quarter worth about $282,000. Acropolis Investment Management LLC purchased a new position in Aurinia Pharmaceuticals during the second quarter valued at $242,000. Finally, Vident Advisory LLC bought a new stake in shares of Aurinia Pharmaceuticals in the first quarter worth approximately $232,000. Hedge funds and other institutional investors own 36.83% of the company’s stock.

Aurinia Pharmaceuticals Company Profile

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.