Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) investors cheer the news that the company’s lupus nephritis drug voclosporin met the primary and all pre-specified secondary endpoints in its phase 2b AURA-LV study.
Aurinia shares reacted to the news, rising nearly 12% in pre-market trading.
“We are thrilled by the results of the AURA study and voclosporin’s potential to shift the treatment paradigm for active lupus nephritis,” said Charles Rowland, CEO of Aurinia. “The ability to get more patients into remission and in a shorter period time than the current standard of care can have a significant impact on the long-term outcomes for these patients.”
“LN is a serious and devastating disease that can severely impact a patient’s life,” said William Pendergraft, MD, PhD, Assistant Professor of Medicine in the Division of Nephrology & Hypertension, at the University of North Carolina and a Principal Investigator in the study. “Voclosporin has demonstrated it can nearly double the number of patients that achieve Complete Remission in the presence of very low corticosteroid exposure. Based on these data, I believe this drug has the potential to significantly improve the long-term prognosis of my patients afflicted with LN and could become an integral component of the standard of care.” (Original Source)
On the ratings front, AUPH stock has been the subject of a number of recent research reports. In a report issued on August 23, FBR analyst Vernon Bernardino maintained a Buy rating on AUPH, with a price target of $9.00, which represents a potential upside of 241% from where the stock is currently trading. Separately, on August 17, H.C. Wainwright’s Ed Arce reiterated a Buy rating on the stock and has a price target of $10.00.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Vernon Bernardino and Ed Arce have a total average return of -14.7% and 32.4% respectively. Bernardino has a success rate of 28% and is ranked #4080 out of 4200 analysts, while Arce has a success rate of 44% and is ranked #70.
Overall, 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $10.00 which is 278.8% above where the stock closed yesterday.
Aurinia Pharmaceuticals, Inc. operates as a biopharmaceutical company. It focuses on discovery and development of immunomodulating therapeutics. Its products include voclosporin and non-immunosuppressive cyclosporine analogue molecules for the treatment of lupus nephritis.