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 closed yesterday at $6.14.
Arce commented:
“We note that of the 91.8M common shares outstanding as of the record date, votes were cast representing approximately 62.0M common shares (about 67.5% S/O). All other matters voted on, including the non-binding advisory “say-on-pay” resolution and the reappointment of PricewaterhouseCoopers LLP (private) as auditors, were also approved. We are pleased with these resounding results that allows management to put this month-long dissident effort behind them and focus on the potential approval of voclosporin. Affirm Buy.”
According to TipRanks.com, Arce is a 4-star analyst with an average return of 7.2% and a 36.7% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Arcturus Therapeutics Ltd, and Melinta Therapeutics Inc.
Currently, the analyst consensus on Aurinia Pharmaceuticals is a Moderate Buy with an average price target of $17.50.
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Based on Aurinia Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $12.43 million. In comparison, last year the company had a GAAP net loss of $15.48 million.
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Aurinia Pharmaceuticals, Inc. operates as a clinical stage biopharmaceutical 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.
