H.C. Wainwright Initiates Coverage on Aurinia Pharmaceuticals Inc to Buy

H.C. Wainwright Initiates Coverage on Aurinia Pharmaceuticals Inc(NASDAQ:AUPH). The shares have been rated Buy. The rating by H.C. Wainwright was issued on Jun 30, 2016.

Aurinia Pharmaceuticals Inc (AUPH) shares turned negative on Tuesdays trading session with the shares closing down -0.07 points or -2.33% at a volume of 76,579. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $3.01. The peak price level was also seen at $3.01 while the days lowest was $2.91. Finally the shares closed at $2.93. The 52-week high of the shares is $4.3 while the 52-week low is $1.42. According to the latest information available, the market cap of the company is $95 M.

Aurinia Pharmaceuticals Inc. (Aurinia) is a Canada-based is a clinical stage pharmaceutical company. The Company is focused on the development of its therapeutic immunomodulating drug candidate voclosporin which is a calcineurin inhibitor (CNI). Voclosporin is an oral drug administered twice daily. It is structurally similar to cyclosporine A (CsA) but is chemically modified on the amino acid-1 residue. Voclosporin is used as a treatment for lupus nephritis (LN). LN is an inflammation of the kidney that if untreated or inadequately treated can lead to end-stage renal disease the requirement for life-long dialysis or death. The Company had completed two Phase III studies of voclosporin in patients with moderate to severe psoriasis. The Company had completed a Phase IIb clinical trial of voclosporin in de novo renal transplant recipients. The Company’s wholly owned subsidiaries include Aurinia Pharmaceuticals Inc. and Aurinia Pharma Limited.

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