Aurinia Pharmaceuticals (AUPH): Reiterating $10 PT After The Recent 33% Move - HC Wainwright
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H.C. Wainwright analyst, Ed Arce, reiterated his Buy rating on Aurinia Pharmaceuticals (NASDAQ: AUPH) after attending a KOL presentation hosted by the company. The presentation offered a thorough overview of lupus nephritis (LN), including historical mortality rates and current standard of care (SoC).
Management offered a more complete review of the results of the Phase 2b AURA-LV study of voclosporin, including additional data from pre-specified analyses, secondary endpoints, and additional subset analyses. When the top-line data was first released on August 15, the stock traded off ~57% but regained 32.6% since the meeting. Despite the positive investor reaction to Friday's presentation, the analyst believes the results were positive and should signal follow through buying driving the share price up.
No change to the price target of $10.
Shares of Aurinia Pharmaceuticals closed at $3.50 yesterday.
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Related EntitiesH.C. Wainwright, Ed Arce
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