AUPH - Aurinia extends losses as analysts cut price targets after Q4 results

The commercial-stage biotech, Aurinia Pharmaceuticals (AUPH -4.7%), is trading lower for the third straight session on Wednesday to reach a seven-month low after several Wall Street analysts trimmed their price targets on the stock citing the company’s lackluster Q4 2021 results. Despite upbeat remarks from its chief executive ahead of the earnings, Aurinia’s (NASDAQ:AUPH) 2022 sales guidance fell short of expectations as net revenue for the year dropped ~9% YoY to $45.6M while net loss widened ~76% YoY to $181.0M. Citing COVID-19 headwinds on the topline, Oppenheimer analyst Justin Kim, who has an Outperform rating on the stock, has slashed the price target to $18 from $31 per share to imply a premium of ~50% to the last close. The analyst wrote that “pandemic headwinds persist, with hints of 4Q21 momentum mired by the omicron variant and new patient start forms totaling 201 PSFs QTD.” The Q4 2021 patient start forms

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Aurinia extends losses as analysts cut price targets after Q4 results