FBR Reiterates Bullish Stance On Aurinia Pharmaceuticals Inc (AUPH) Following Development Updates
In a research report released Friday, FBR analyst Vernon Bernardino reiterated an Outperform rating on shares of Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) with a price target of $11, after the drug maker announced results from a single Phase III clinical trial (AURORA) and the completed AURA-LV (AURA) Phase IIb study with voclosporin (VCS) should support regulatory submissions in the US, Europe and Japan.
Bernardino noted, “We see this as positive and in line with our thinking that the AURA-LV results were robust and likely viewed by the regulatory agencies as requiring confirmation with a single, sizeable Phase III study that incorporates the same parameters utilized to test VCS in AURA-LV. With AUPH stock down 37% from all-time high of $10.54 on 3/13/17, we view current levels as an opportunity to buy, especially on any further pullback. We look for results to be presented on April 20 as a late-breaker abstract at the upcoming National Kidney Foundation (NKF) 2017 Spring Clinical Meeting, as well as the initiation of AURORA later this quarter, as potential catalysts for the stock.”
According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Vernon Bernardino has a yearly average return of -6.9% and a 29% success rate. Bernardino has a 89.1% average return when recommending AUPH, and is ranked #4440 out of 4556 analysts.
All the 5 analysts polled by TipRanks (in the past 12 months) rate Aurinia stock a Buy. With a return potential of 37%, the stock’s consensus target price stands at $9.60.