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Aurinia (AUPH) Moves 13.3% Higher: Will This Strength Last?

Zacks Equity Research
·2-min read

Aurinia Pharmaceuticals AUPH shares rallied 13.3% in the last trading session to close at $11.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 10% loss over the past four weeks.

The rise in shares prices can be attributable to a buyout rumor posted on a third-party website. Per this rumor, Japanese drug manufacturer Otsuka Holdings is rumored to be considering a bid to acquire AUPH.

This biotechnology company is expected to post quarterly loss of $0.26 per share in its upcoming report, which represents a year-over-year change of +29.7%. Revenues are expected to be $27.07 million, up 308.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

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For Aurinia, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AUPH going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Aurinia is part of the Zacks Medical - Drugs industry. Zoetis ZTS, another stock in the same industry, closed the last trading session 1.4% higher at $174.21. ZTS has returned -0.5% in the past month.

Zoetis' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.23. Compared to the company's year-ago EPS, this represents a change of +3.4%. Zoetis currently boasts a Zacks Rank of #3 (Hold).


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