Aurinia Pharmaceuticals (AUPH) Plunges Despite Upbeat Trial Data

The corporation holds 32.27 million outstanding shares and its 3.38 million shares were floated at the market.

Many analysts are providing their Estimated Earnings analysis for Aurinia Pharmaceuticals Inc and for the current quarter 3 analysts have projected that the stock could give an Average Earnings estimate of $-0.13/share. The stock's price moved below its 200 day moving theĀ average of $2.78. The stock price is going above to its 52 week low with 62.68% and lagging behind from its 52 week high with -48.55%. The stock is now trading at a distance of -46.80% from SMA-20. ANIP. All three stocks sport a Zacks Rank #1 (Strong Buy). The company has recorded a 50-day moving average of $3.18 and two hundred day moving average of $2.78. ATR value of corporation was 0.54.

What should have been a big win for Aurinia Pharmaceuticals Inc.'s stock (NASDAQ: AUPH) Monday on the back of positive phase IIb data in the particularly tough lupus nephritis (LN) indication turned into a drubbing for the shares, which plunged 56 percent as investor attention focused - perhaps unfairly - on the study's death rate.

The Canadian pharmaceuticals maker told shareholders this morning that voclosporin demonstrated a statistically significant remission rate in patients treated with the medication twice daily during a six-month treatment period.

For the study, 265 patients were randomized to either receive a low dose of voclosporin, a high dose or placebo twice daily, along with receiving mycophenolate mofetil and oral corticosteroids as background therapy. No unexpected safety signals were observed and voclosporin was shown to be well tolerated. Canaccord Genuity set a $10.00 price objective on shares of Aurinia Pharmaceuticals and gave the company a "buy" rating in a report on Friday, August 5th.

Aurinia Pharmaceuticals Inc. (AUPH) opened the session with a $2.18 price tag, later ranging from $1.7375 to $2.2, the range at which the stock has traded at throughout the day. Relative strength index (RSI-14) for Eleven Biotherapeutics Inc (NASDAQ: EBIO) is at 78.95.

The drug, a human monoclonal antibody that selectively targets B-lymphocyte stimulator, has however struggled to make much of a sales impact for the company since its FDA approval in 2011. The stock's weekly volatility was 0.55% and the RSI amounts to 66.49.

To analyze a stock, one should look for Upgrades and Downgrades of a stock. The stock is now trading at a distance of 47.83% from SMA-20. The last close is down 17.03% from the 200-day moving average, compared with the S&P 500 which has decreased 0.00% over the date range. The company now has a Return on Equity of -207.40% and a Return on Investment of -107.30%.

LN results from the inflammation of the kidney caused by systemic lupus erythematosus (SLE), a progressive, complex and often-disabling disease affecting about 500,000 patients in the US, predominately women, explained CEO Charlie Rowland. It has been assigned a low target price of $1.63 and a high target price of $13.05.

Vanessa Coleman

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