Worth Watching: What’s Ahead for Aurinia Pharmaceuticals Inc After Today’s Gap Up?

Worth Watching: What's Ahead for Aurinia Pharmaceuticals Inc After Today's Gap Up?

The stock of Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) gapped up by $0.27 today and has $6.08 target or 102.00% above today’s $3.01 share price. The 7 months technical chart setup indicates low risk for the $93.16M company. The gap was reported on Oct, 1 by Barchart.com. If the $6.08 price target is reached, the company will be worth $95.02 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 14.02% or $0.37 during the last trading session, hitting $3.01. About 31.70 million shares traded hands or 3578.23% up from the average. Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) has risen 27.00% since February 29, 2016 and is uptrending. It has outperformed by 16.58% the S&P500.

Analysts await Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) to report earnings on November, 11. They expect $-0.14 EPS, up 22.22% or $0.04 from last year’s $-0.18 per share. After $-0.14 actual EPS reported by Aurinia Pharmaceuticals Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

According to Zacks Investment Research, “Aurinia Pharmaceuticals Inc. is a late stage biopharmaceutical company. It focuses on the development of therapeutic immunomodulating drug candidate. The company’s lead drug includes Voclosporin for the treatment of lupus nephritis. Aurinia Pharmaceuticals Inc. is headquartered in Victoria, Canada.”

More notable recent Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) news were published by: Investorplace.com which released: “Aurinia Pharmaceuticals Inc (AUPH) Makes Comeback on Encouraging Trial Data” on September 30, 2016, also Seekingalpha.com with their article: “Aurinia Pharmaceuticals Share Price Being Unfairly Punished” published on August 31, 2016, Seekingalpha.com published: “Aurinia Pharmaceuticals: Large Potential Return” on May 23, 2016. More interesting news about Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) were released by: Seekingalpha.com and their article: “Aurinia Pharmaceuticals: Looking Even Better” published on July 05, 2016 as well as Businesswire.com‘s news article titled: “Aurinia Pharmaceuticals to Present at the 2016 Rodman & Renshaw 18 th Annual …” with publication date: September 07, 2016.

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