FBR Pounds the Table on Aurinia Pharmaceuticals Inc (AUPH)
FBR Capital analyst Vernon Bernardino was out pounding the table on Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) Wednesday, reiterating an Outperform rating and price target of $9.00, which implies an upside of 203% from current levels.
Bernardino wrote, “We think voclosporin (VS), a Phase III ready candidate therapy for lupus nephritis (LN) from Aurinia Pharmaceuticals, is differentiated versus other therapies by its potential to achieve complete remission (CR) in eight weeks or less (p=0.002 versus control) and maintain partial remission in 90% of patients over 24 weeks (p=0.001 versus control). As minutes from the end of Phase II (EOP2) meeting with the FDA indicated the agency’s preference for conducting one Phase III study to support VS approval, we think its regulatory pathway is relatively low risk. We look for AURORA, a Phase III clinical trial to evaluate VS in patients with severe LN, to generate robust results and support submission of a New Drug Application (NDA) as early as 2019. As the stock still trades near 52-week lows, we think AUPH’s value remains underappreciated and recommend buying the shares ahead of the 48-week results later this quarter.”
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 -21.5% and a 21% success rate. Bernardino has a 11.3% average return when recommending AUPH, and is ranked #4306 out of 4372 analysts.
As of this writing, all the 5 analysts polled in the past 12 months rate Aurinia stock a Buy. With a return potential of 183%, the stock’s consensus target price stands at $8.40.
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