Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) shares rose 7% to $7.49 in Friday’s trading session, after the drug maker presented additional 48-week results from its global Phase IIb AURA-LV (AURA) study in lupus nephritis (LN), which demonstrated robust durability of benefit from both doses of voclosporin investigated in the study.
Cantor analyst Elemer Piros commented, “These data were consistent, with 24-week results highlighting statistically significant improvements across these measures at both dose levels of voclosporin, compared with placebo. We believe these data further strengthen the unprecedented top-line efficacy results from the Phase 2 AURA study and read positively for the upcoming Phase 3 AURORA study, which is expected to begin imminently.”
As such, Piros reiterates an Overweight rating on Aurinia shares, with a $14.00 price target, which implies an upside of 81% from current levels.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Elemer Piros has a yearly average return of -2.1% and a 48% success rate. Piros is ranked #3800 out of 4562 analysts.
All the 6 analysts polled in the past 12 months rate Aurinia Pharmaceuticals stock a Buy. With a return potential of 33.5%, the stock’s consensus target price stands at $10.33.