Biotech Stock Boosted on Late-Stage Trial Data

The stock has been bouncing off support at the $17 level

Deputy Editor
Dec 9, 2021 at 11:16 AM
facebook X logo linkedin


Aurinia Pharmaceuticals Inc (NASDAQ: AUPH) is up 4.8% to trade at $21.83, after a late-stage trial of the company's treatment for active lupus nephritis showed sustained efficacy and a favorable risk-benefit profile over a three-year period. The drug, Lupkynis, is approved by the U.S. Food and Drug Administration (FDA) in combination with a background immunosuppressive therapy regimen to treat patients with the kidney disorders.
 
Following its Nov. 3 13-year peak of $33.97, AUPH dropped 43% last month, partially due to its mid-November bear gap after the company filed for a $250 million mixed shelf offering. However, the 160-day moving average provided a floor at the $17 level, and the equity has recently bounced off that level -- on track for its fourth-straight daily win.
 
Of the eight analysts in coverage, six carry a "buy" or better rating on AUPH, with two at a tepid "hold." Plus, the 12-month consensus price target of $32 is a roughly 50% premium to current levels.
 
It's also worth noting that while short interest has been falling off, down 37.7% during the two most recent reporting periods, it still represents 8.9% of the stock's available float. 

Meanwhile, AUPH ranks low on the Schaeffer's Volatility Scorecard (SVS), with a score of just 15 out of 100. In other words, the security has consistently realized lower volatility than its options have priced in, making the stock a potential premium-selling candidate.

 

 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI