GILD - Aurinia Pharma jumps amid takeover speculation

2023-11-21 10:30:55 ET

Aurinia Pharmaceuticals ( NASDAQ: AUPH ) soared 6.7% amid takeover speculation.

The Aurinia ( AUPH ) stock surge comes amid a report that a Gilead Sciences ( GILD ) corporate jet made a trip to Aurinia's headquarters in Edmonton, Canada, according to a Gordon Haskett note on Tuesday. This was the first time the jet had flown to the area since a trip in May.

The takeover speculation comes after Aurinia ( AUPH ) announced in late June that it was exploring strategic alternatives, including a potential sale. RBC said at the time that Aurinia could see prices in the high $20s to low $30s per share in a takeout at premium multiples.

Aurinia ( AUPH ) has been the subject of takeover speculation for a few years since Bloomberg reported in October 2021 about a potential bid from Bristol-Myers Squibb ( BMY ).

More on Aurinia Pharma

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• Aurinia Pharmaceuticals: Reassessing As It Gains Traction
• Aurinia Rides High On Lupkynis, But Not Without Cost (Rating Upgrade)
• Aurinia partner files for Japan approval of lupus nephritis drug
• Aurinia Pharma spikes after Q3 beat; narrows guidance

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