Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) (TSE:AUP) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $6.64 price target on the biotechnology company’s stock. Vetr‘s price target suggests a potential upside of 5.90% from the company’s previous close.

A number of other brokerages have also issued reports on AUPH. HC Wainwright cut their target price on Aurinia Pharmaceuticals from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, May 18th. Zacks Investment Research lowered Aurinia Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. BidaskClub lowered Aurinia Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Cantor Fitzgerald set a $14.00 target price on Aurinia Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $9.71.

Shares of Aurinia Pharmaceuticals (AUPH) traded down 0.79% during midday trading on Wednesday, hitting $6.27. The stock had a trading volume of 569,779 shares. The firm’s market cap is $523.45 million. Aurinia Pharmaceuticals has a 52-week low of $2.00 and a 52-week high of $10.54. The firm’s 50 day moving average price is $6.22 and its 200 day moving average price is $6.66.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last released its quarterly earnings results on Thursday, August 10th. The biotechnology company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.10. The firm had revenue of $0.33 million for the quarter, compared to analyst estimates of $0.06 million. Aurinia Pharmaceuticals had a negative net margin of 16,648.93% and a negative return on equity of 28.61%. On average, equities research analysts expect that Aurinia Pharmaceuticals will post ($0.94) earnings per share for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the business. NEA Management Company LLC raised its position in Aurinia Pharmaceuticals by 18.2% in the first quarter. NEA Management Company LLC now owns 4,808,483 shares of the biotechnology company’s stock valued at $35,294,000 after purchasing an additional 740,740 shares during the period. AWM Investment Company Inc. purchased a new stake in shares of Aurinia Pharmaceuticals during the first quarter worth $2,202,000. Quantbot Technologies LP purchased a new stake in shares of Aurinia Pharmaceuticals during the first quarter worth $275,000. Two Sigma Securities LLC purchased a new stake in shares of Aurinia Pharmaceuticals during the first quarter worth $240,000. Finally, Morgan Stanley increased its position in shares of Aurinia Pharmaceuticals by 11,061.7% during the first quarter. Morgan Stanley now owns 446,135 shares of the biotechnology company’s stock worth $3,273,000 after acquiring an additional 442,138 shares during the period. 27.83% of the stock is currently owned by institutional investors.

About Aurinia Pharmaceuticals

Aurinia Pharmaceuticals Inc is a Canada-based clinical-stage biopharmaceutical company operating in the field of nephrology and autoimmunity. The Company’s primary business is the development of a therapeutic drug to treat autoimmune diseases, in particular lupus nephritis (LN). It is focused on the development of its lead compound voclosporin, a therapeutic immunomodulating drug candidate, which is a second-generation calcineurin inhibitors (CNI) to treat patients afflicted with LN.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Aurinia Pharmaceuticals (NASDAQ:AUPH)

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