Handelsbanken Fonder AB has decreased its stake in Aurinia Pharmaceuticals Inc by 22.2%, according to its latest 13F filing with the U.S. Securities and Exchange Commission (SEC). The firm sold 13,500 shares during the second quarter, reducing its holdings to 47,200 shares valued at approximately $400,000.
Other institutional investors have also adjusted their positions in Aurinia Pharmaceuticals. Notably, Hussman Strategic Advisors Inc. increased its stake by 70.0%, acquiring an additional 147,000 shares. This brings its total holdings to 357,000 shares, valued at about $3,024,000. Additionally, Strs Ohio and the Public Employees Retirement System of Ohio both established new positions in the company, worth approximately $636,000 and $282,000, respectively.
The total ownership of Aurinia Pharmaceuticals by institutional investors and hedge funds stands at 36.83%.
Market Reactions and Analyst Ratings
Aurinia Pharmaceuticals has recently received mixed reviews from market analysts. On November 7, 2023, Jefferies Financial Group upgraded its rating from “hold” to “buy,” raising its price target from $10.00 to $21.00. Conversely, Bloom Burton downgraded the stock from a “moderate buy” to a “hold” rating the previous week.
Weiss Ratings maintained a “hold (c)” rating, while the Royal Bank of Canada raised its price target from $9.00 to $15.00. Currently, two analysts rate the stock as a buy, and three analysts have given it a hold rating. The consensus rating for Aurinia Pharmaceuticals, according to data from MarketBeat.com, is “hold,” with an average target price of $17.67.
Aurinia’s Financial Performance
As of November 4, 2023, Aurinia Pharmaceuticals shares opened at $16.20. The company has seen significant price movements, with a 50-day simple moving average of $13.25 and a 200-day average of $11.00. It reports a debt-to-equity ratio of 0.18, with a current ratio of 5.23 and a quick ratio of 4.63. Over the past year, the stock has fluctuated between a low of $6.55 and a high of $16.48.
In its latest earnings report, Aurinia Pharmaceuticals announced an earnings per share (EPS) of $0.23, surpassing the consensus estimate of $0.16 by $0.07. The firm reported revenue of $73.47 million for the quarter, exceeding the anticipated $67.70 million. Aurinia’s net margin stands at 23.31%, with a return on equity of 20.06%.
Looking ahead, Aurinia Pharmaceuticals has set its guidance for fiscal year 2025, with analysts anticipating an EPS of $0.11 for the current year.
Aurinia Pharmaceuticals Inc., based in the United States, focuses on developing and commercializing therapies to address various diseases with significant unmet medical needs. Its primary product, LUPKYNIS, is designed for the treatment of adult patients with active lupus nephritis. The company has a collaboration and license agreement with Otsuka Pharmaceutical Co., Ltd.
The ongoing shifts in institutional investment and market analysis reflect the dynamic nature of Aurinia Pharmaceuticals as it navigates the competitive landscape of the biotechnology sector.
