In a research report issued Thursday, FBR analyst Vernon Bernardino reiterated an Outperform rating on shares of Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) with a price target of $9.00, after the drug maker announced plans for a single Phase III clinical trial named AURORA to evaluate voclosporin (VS) as an investigational treatment for lupus nephritis (LN).

Bernardino commented, “We think the AURA results were impressive as it was the first LN study to meet its primary and secondary outcome measures. We think this differentiates VS from other LN therapies, and, with its Fast Track designation, could position VS for accelerated approval. While the Phase III design is consistent with AURA, AURORA’s primary endpoint is renal response (RR) at 24 weeks, a composite of all of the AURA outcome measures versus complete remission at 24 weeks with AURA. We think this is a higher efficacy hurdle, making AURORA a robust study design. We look for further details on the ultimate strategy with AURORA and insights from the end-of-Phase II (EOP2) meeting Aurinia recently conducted with the FDA.”

As usual, we recommend taking analyst notes with a grain of salt. According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Vernon Bernardino has a yearly average loss of 25.2% and a 15% success rate. Bernardino has a 3.7% average loss when recommending AUPH, and is ranked #4021 out of 4165 analysts.

As of this writing, all the 5 analysts polled by TipRanks rate Aurinia Pharmaceuticals stock a Buy. With a return potential of 253%, the stock’s consensus target price stands at $9.00.