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Aurinia Pharma's Phase 2b Data Lifts Stock, Suggests Big Potential

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Aurinia Pharma's Phase 2b Data Lifts Stock, Suggests Big Potential
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Elemer Piros of Cantor Fitzgerald maintains an Overweight rating on Aurinia Pharmaceuticals Inc (NASDAQ: AUPH)'s stock with a $14 price target after the company reported data from a Phase 2b study, which helped boost the stock higher by more than 5 percent.

During the National Kidney Foundation Spring Clinical Meeting on Thursday, the company discussed results from a 48-week secondary analysis from a Phase 2B study. The study, called AURA, is exploring a therapy called voclosporin for the treatment of lupus nephritis.

Aurinia reported that in addition to the therapy meeting its complete and partial remission endpoints at 48 weeks, all pre-specified secondary endpoints were also met, including speed of remission, reduction in Systemic Lupus Erythematosus Disease Activity Index, and reduction in urine protein creatinine ratio.

Piros: 'Encouraged' By Results

In a follow up from Piros' initiation note in early April, the analyst stated that Aurinia's data release is encouraging and supports a Phase 3 52-week primary endpoint design.

The analyst further noted that the company's voclosporin happens to be the first development candidate to achieve a successful primary readout in a large trial. This also works in Aurinia's favor since there is no approved therapy for lupus nephritis to-date.

The analyst's $14 price target is based on a net present value (NPV) of future cash flows associated with voclosporin and also factors in an estimated $2 per share in cash.

At last check in Friday's pre-market session, shares of Aurinia were up 4.86 percent at $7.34.

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Latest Ratings for AUPH

DateFirmActionFromTo
Apr 2017Cantor FitzgeraldInitiates Coverage OnOverweight
Nov 2016Mackie ResearchInitiates Coverage OnSpeculative Buy
Jun 2016H.C. WainwrightInitiates Coverage onBuy

View More Analyst Ratings for AUPH
View the Latest Analyst Ratings

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