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Aurinia (AUPH) Soars 6.6%: Is Further Upside Left in the Stock?
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Aurinia Pharmaceuticals (AUPH - Free Report) shares ended the last trading session 6.6% higher at $5.86. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.9% gain over the past four weeks.
The rise in share price was attributable to positive investor expectations for Lupkynis, the company’s sole marketed drug which is approved for treatment of adults with active lupus nephritis (LN). Sales of the drug are being driven predominantly by further penetration of the LN market. Management expects to generate net product revenues between $200 million and $220 million in 2024, suggesting over 32% year-over-year growth at the mid-point.
This biotechnology company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of +112.5%. Revenues are expected to be $54.89 million, up 32.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
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.
Aurinia belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, Jazz Pharmaceuticals (JAZZ - Free Report) , closed the last trading session 3.7% higher at $106.04. Over the past month, JAZZ has returned -7.9%.
Jazz's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $4.71. Compared to the company's year-ago EPS, this represents a change of +4.4%. Jazz currently boasts a Zacks Rank of #4 (Sell).
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Aurinia (AUPH) Soars 6.6%: Is Further Upside Left in the Stock?
Aurinia Pharmaceuticals (AUPH - Free Report) shares ended the last trading session 6.6% higher at $5.86. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.9% gain over the past four weeks.
The rise in share price was attributable to positive investor expectations for Lupkynis, the company’s sole marketed drug which is approved for treatment of adults with active lupus nephritis (LN). Sales of the drug are being driven predominantly by further penetration of the LN market. Management expects to generate net product revenues between $200 million and $220 million in 2024, suggesting over 32% year-over-year growth at the mid-point.
This biotechnology company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of +112.5%. Revenues are expected to be $54.89 million, up 32.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
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 belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, Jazz Pharmaceuticals (JAZZ - Free Report) , closed the last trading session 3.7% higher at $106.04. Over the past month, JAZZ has returned -7.9%.
Jazz's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $4.71. Compared to the company's year-ago EPS, this represents a change of +4.4%. Jazz currently boasts a Zacks Rank of #4 (Sell).