Leerink Partners Downgrades Aurinia Pharmaceuticals (AUPH) to Market Perform

Leerink Partners analyst Joseph Schwartz downgraded Aurinia Pharmaceuticals (NASDAQ: AUPH) from Outperform to Market Perform with a price target of $16.00.

The analyst comments "Aurinia Pharmaceuticals (AUPH) has done a nice job with the commercialization of Lupkynis (voclosporin) in lupus nephritis (LN). However, the product is unlikely to be as big as we originally thought and there is some uncertainty regarding the tail of this asset. Moreover, while we view the aritinercept data favorably, it is coming from behind in a crowded development landscape, and we lack visibility into its differentiation and competitive moat. The stock has run up 81% YTD (versus 29% for the XBI) and we view the current valuation as fair. We are moving to Market Perform (from Outperform) and increasing our PT to $16 (from $15)."

For an analyst ratings summary and ratings history on Aurinia Pharmaceuticals click here. For more ratings news on Aurinia Pharmaceuticals click here.

Shares of Aurinia Pharmaceuticals closed at $15.91 yesterday.

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