Aurinia Pharmaceuticals, Inc. (AUPH) Scores Again With Voclosporin
Last week, on April 20, during the National Kidney Foundation 2017 Spring Clinical Meeting in Orland, Florida, Aurinia Pharmaceuticals, Inc. (NASDAQ:AUPH) announced some more promising news. The company exhibited positive 48-week results from its Phase 2b about voclosporin, a cure for Lupus Nephritis (LN), and gets closer to phase 3. In reaction, H.C. Wainwright top analyst Ed Arce maintains a Buy rating with a price target of $12.00, which represents an upside close to 72% compared to where the shares last traded.
“The new additional 48-week data indicate that voclosporin achieves statistical significance in all three pre-specified endpoints; speed of remission as measured by time to CR and partial response, reduction in Systemic Lupus Erthematosus Disease Activity Index (SLEDAI) score; and reduction in urine protein creatinine ratio. In our view, the most critically important new finding is that voclosporin achieved statistically significant improvement in reduction of SLEDAI score versus baseline in both dose groups at 24 and 48 weeks,” asserts Arce, confident on the success of Phase 3.
Moreover, “The new safety data sheds light into the treatment emergent adverse events (TEAEs),” which strengthens the analyst’s optimism. Arce concludes “In our view, voclosporin’s robust efficacy combined with a clean safety profile that eliminates side effects associated with prolonged exposure to high dose steroids is a game-changer in the management of LN.”
According to TipRanks, a financial engine that measures and ranks analysts’ and bloggers’ performance, five-star-analyst Ed Arce is ranked #119 out of #4571 analysts. Arce has a 48% success rate and generates an annual yield of 29.2%. When recommending AUPH, the analyst earns a 126.9% average profit on the stock.
TipRanks analytics show AUPH as a Strong Buy. Based on 4 analysts polled by TipRanks in the last 3 months, all 4 issue a Buy. The 12-month average price target stands at $11.75, making a nearly 68% upside from where the stock is currently trading.
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