In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Aurinia Pharmaceuticals (NASDAQ: AUPH), with a price target of $16. The company’s shares opened today at $5.71.
“We rate Aurinia Pharmaceuticals Overweight. Aurinia is developing a cyclosporine drug analog, voclosporin, for the treatment of lupus nephritis. Voclosporin is the first development candidate to achieve a successful primary readout in a large global randomized trial for lupus nephritis. Aurinia is conducting a single pivotal Phase 3 AURORA study, which began dosing in May 2017. To-date, there remains no approved therapy for lupus nephritis in the U.S.”
According to TipRanks.com, Piros has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.7% and a 49.6% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Aurinia Pharmaceuticals with a $14 average price target.
Based on Aurinia Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $15.48 million. In comparison, last year the company had a GAAP net loss of $2.4 million.
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Aurinia Pharmaceuticals, Inc. operates as a clinical stage pharmaceutical company, which engages in the development of a therapeutic drug to treat autoimmune diseases particularly lupus nephritis. The company was founded by Robert Foster, Richard Glickman and Michael Martin on June 16, 1993 and is headquartered in Victoria, Canada.