.jpg "Aurinia Pharmaceuticals (NASDAQ: AUPH)")
H.C. Wainwright analyst Ed Arce maintained a Buy rating on Aurinia Pharmaceuticals (AUPH) today and set a price target of $25. The company’s shares opened today at $6.60.
Arce noted:
“Buy ILJIN seeks effective control of Aurinia, or at least substantial influence, wholly disproportionate to its current holdings. Over the weekend, Aurinia’s largest shareholder (about 14% S/O), ILJIN SNT Co., Ltd. (private; Seoul, South Korea) launched a proxy contest to elect at least 3 directors to the upcoming Annual General Meeting (AGM) to be held on Wednesday, June 26, 2019. ILJIN is a life science-focused investment fund with a portfolio of positions in about 12 companies (according to its website), including Aurinia which appears to be its largest and longest holding, with a total of about $58M invested since 2010, according to ILJIN.”
According to TipRanks.com, Arce is a 4-star analyst with an average return of 6.9% and a 37.1% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Arcturus Therapeutics Ltd, and Melinta Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Aurinia Pharmaceuticals with a $17.50 average price target.
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The company has a one-year high of $7.85 and a one-year low of $5.06. Currently, Aurinia Pharmaceuticals has an average volume of 589.9K.
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