Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) (TSE:AUP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Aurinia Pharmaceuticals Inc. is a late stage biopharmaceutical company. It focuses on the development of therapeutic immunomodulating drug candidate. The company’s lead drug includes Voclosporin for the treatment of lupus nephritis. Aurinia Pharmaceuticals Inc. is headquartered in Victoria, Canada. “

A number of other analysts have also recently weighed in on the stock. Vetr cut shares of Aurinia Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $6.72 price objective on the stock. in a report on Monday, August 14th. Cantor Fitzgerald set a $14.00 target price on shares of Aurinia Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, August 11th. Seaport Global Securities reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Aurinia Pharmaceuticals in a research note on Friday, October 6th. Leerink Swann lifted their price objective on shares of Aurinia Pharmaceuticals from $10.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, BidaskClub cut shares of Aurinia Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.15.

Aurinia Pharmaceuticals (NASDAQ AUPH) traded down 4.80% during midday trading on Tuesday, hitting $5.75. 3,846,654 shares of the stock traded hands. The company’s 50-day moving average is $6.43 and its 200-day moving average is $6.51. The company’s market cap is $480.04 million. Aurinia Pharmaceuticals has a one year low of $2.02 and a one year high of $10.54.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last posted its quarterly earnings data on Thursday, August 10th. The biotechnology company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.10. Aurinia Pharmaceuticals had a negative net margin of 16,648.93% and a negative return on equity of 28.61%. The firm had revenue of $0.33 million for the quarter, compared to the consensus estimate of $0.06 million. Equities research analysts expect that Aurinia Pharmaceuticals will post ($1.01) EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently made changes to their positions in AUPH. AWM Investment Company Inc. boosted its holdings in shares of Aurinia Pharmaceuticals by 17.5% during the second quarter. AWM Investment Company Inc. now owns 352,500 shares of the biotechnology company’s stock worth $2,161,000 after purchasing an additional 52,500 shares during the period. Redmile Group LLC boosted its holdings in shares of Aurinia Pharmaceuticals by 137.0% during the second quarter. Redmile Group LLC now owns 332,310 shares of the biotechnology company’s stock worth $2,037,000 after purchasing an additional 192,067 shares during the period. Kazazian Asset Management LLC boosted its holdings in shares of Aurinia Pharmaceuticals by 47.3% during the second quarter. Kazazian Asset Management LLC now owns 66,304 shares of the biotechnology company’s stock worth $406,000 after purchasing an additional 21,304 shares during the period. Royal Bank of Canada boosted its holdings in shares of Aurinia Pharmaceuticals by 8.6% during the second quarter. Royal Bank of Canada now owns 16,968 shares of the biotechnology company’s stock worth $104,000 after purchasing an additional 1,341 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Aurinia Pharmaceuticals by 357.3% during the second quarter. Goldman Sachs Group Inc. now owns 876,461 shares of the biotechnology company’s stock worth $5,373,000 after purchasing an additional 684,816 shares during the period. Institutional investors own 27.73% of the company’s stock.

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.

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