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Aurinia Pharmaceuticals Inc (AUPH) to Enter NASDAQ Biotech Index

support@smarteranalyst.com (Ben Mahaney)

Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) announced today that its common stock has been selected for inclusion in the NASDAQ Biotechnology Index (NBI), effective before market open on Monday, December 18 2017.

The NASDAQ Biotechnology Index was established in 1993, and is designed to track the performance of a set of securities listed on The NASDAQ Stock Market® (NASDAQ®) that are classified as either biotechnology or pharmaceutical according to the Industry Classification Benchmark (ICB). The NASDAQ Biotechnology Index is re-ranked annually. The NASDAQ Biotechnology Index is the basis for the iShares NASDAQ Biotechnology Index Fund (IBB), which seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the NASDAQ Biotechnology Index. In addition, options based on the iShares NASDAQ Biotechnology Index Fund trade on various exchanges.

More on Smarter Analyst: Analyst Neil Maruoka Bullish on Aurinia on Back of Attractive Worldwide Partnering Potential in Competitive LN Landscape

Two major benefits to the company will be: (1) Increased trading liquidity and (2) Increased exposure among US investors.

Additionally, Aurinia was recently added to the MSCI Global Small Cap Indexes, which went into effect at close of November 30, 2017. Canada added 17 securities and deleted 7 securities from MSCI Global Small Cap indexes.

Shares of Aurinia Pharmaceuticals closed today at $5.01, down $0.05 or -0.99%. AUPH has a 1-year high of $10.54 and a 1-year low of $2.02. The stock's 50-day moving average is $5.44 and its 200-day moving average is $6.11.

On the ratings front, AUPH stock has been the subject of a number of recent research reports. In a report issued on November 17, Canaccord analyst Neil Maruoka maintained a Buy rating on AUPH, with a price target of $10.50, which represents a potential upside of 110% from where the stock is currently trading. Similarly, on November 15, H.C. Wainwright's Ed Arce assigned a Buy rating to the stock and has a price target of $12.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Neil Maruoka and Ed Arce have a yearly average return of 2.9% and 20% respectively. Maruoka has a success rate of 35% and is ranked #1797 out of 4722 analysts, while Arce has a success rate of 44% and is ranked #273.

Overall, 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $12.00 which is 139.5% above where the stock opened today.

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