FBR Offers Commentary on Aurinia Pharmaceuticals Inc (AUPH) Following Receipt of FDA Meeting Minutes

FBR analyst Vernon Bernardino came out with some commentary on Aurinia Pharmaceuticals Inc (NASDAQ:AUPH), after the drug maker announced it received meeting minutes for the End-ofPhase II (EOP2) meeting held with the FDA on October 25, 2016 and concluded they are consistent with the FDA’s preliminary responses.

Bernardino commented, “We view the news as positive as it is further confirmation that plans for a single Phase III clinical trial named AURORA to evaluate voclosporin (VS) as an investigational treatment for lupus nephritis (LN) could be sufficient for supporting a New Drug Application (NDA). As a reminder, AURORA’s design is consistent with the AURA Phase IIb study, which was the largest randomized, placebo-controlled clinical study ever conducted in LN. AURA results were impressive as it was the first LN study to meet its primary and secondary endpoints (EPs). We think this differentiates VS from other lupus therapies, and with its Fast Track designation, could position VS for accelerated approval.”

As such Bernardino reiterates an Outperform rating on shares of Aurinia Pharmaceuticals, with a price target of $9.00, which implies an upside of 223% from current levels.

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Vernon Bernardino has a yearly average return of -25.4% and a 18% success rate. Bernardino has a -1.8% average return when recommending AUPH, and is ranked #4210 out of 4285 analysts.

As of this writing, all the 5 analysts polled by TipRanks rate Aurinia stock a Buy. With a return potential of 205%, the stock’s consensus target price stands at $8.50.

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