.jpg "Aurinia Pharmaceuticals (NASDAQ: AUPH)")
Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Aurinia Pharmaceuticals (AUPH) today and set a price target of $18. The company’s shares opened today at $5.60.
Piros noted:
“We rate Aurinia Pharmaceuticals Overweight. Aurinia is developing a cyclosporine drug analog, voclosporin, for the treatment of lupus nephritis. Voclosporin is the first development candidate to achieve a successful primary readout in a large global randomized trial for lupus nephritis. Aurinia is conducting a single pivotal Phase 3 AURORA study, which completed enrollment in September 2018. To-date, there remains no approved therapy for lupus nephritis in the U.S.”
According to TipRanks.com, Piros has 0 stars on 0-5 star ranking scale with an average return of -6.0% and a 41.1% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Proteostasis Therapeutics Inc, and Strongbridge Biopharma Plc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Aurinia Pharmaceuticals with a $16.50 average price target.
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Based on Aurinia Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $15.71 million. In comparison, last year the company had a GAAP net loss of $13.12 million.
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Aurinia Pharmaceuticals, Inc. operates as a clinical stage pharmaceutical company, which engages in the development of a therapeutic drug to treat autoimmune diseases particularly lupus nephritis. The company was founded by Robert Foster, Richard Glickman and Michael Martin on June 16, 1993 and is headquartered in Victoria, Canada.
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