This morning, Aurinia (AUPH) presented at the Cantor 4th Annual Healthcare Conference in New York City, and provided a corporate overview of its clinical programs. Cantor analyst Elemer Piros attended the conference and shares a few takeaways.
Piros wrote, “We are at the Cantor Global Healthcare Conference being held October 1-3. Aurinia conducted a corporate presentation and Q&A session, from which we are providing our quick takeaways. We believe AURORA remains well positioned based on its recent faster-thanexpected completion of enrollment with 358 patients (324 patient goal). Current opt-in rate of 82% for the blinded long-term extension study with voclosporin provides additional readthrough on drug benefit. We view voclosporin’s potency, lipid profile, and safety with respect to nephrotoxicity and glucose intolerance as favorable in the significantly underserved lupus nephritis market.”
As a reminder, Aurinia reported last week faster- and larger-than-expected enrollment of its Phase 3 AURORA study with voclosporin, exceeding target enrollment of 324 patients with 358 randomized lupus nephritis (LN) patients.
“We believe these aspects provide positive readthrough for the study, which is now better powered for its primary endpoint of complete renal response at 52 weeks. Moreover, speedy and larger-than-expected enrollment gives us confidence that the studies were able to enroll quality lupus nephritis patients across the 27 countries with active clinical sites. In our view, the news reflects management’s expertise in the execution of lupus nephritis trials and further supports timely development and potential commercialization of voclosporin. Management expects the Phase 3 AURORA study to readout in 4Q19, with a complete NDA submission in 2Q20,” Piros opined.
Piros reiterates an Overweight rating on Aurinia shares, with a price target of $18, which implies an upside of 186% from current levels. (To watch Piros’ track record, click here)
The drug maker now looks like a very compelling investing opportunity, as TipRanks analytics showcasing AUPH as a Buy. With an average price target of $12.70, analysts are predicting massive upside potential of over 100% for the stock. In total, Aurinia stock has received 5 Buy ratings in the past 12 months with no Hold or Sell ratings. (See AUPH’s price targets and analyst ratings on TipRanks)