NEW YORK, NY / ACCESSWIRE / July 18, 2017 / Neither Soligenix nor Aurinia had any remarkable news on Monday to account for their big share price jumps. Soligenix did, however, get coverage initiated on it by H.C. Wainwright and received not only a "buy" rating but also an $11 price target.
RDI Initiates Coverage on:
Aurinia Pharmaceuticals Inc.
Soligenix, Inc. was one of the biggest gainers on the NASDAQ on Monday, closing up 36.23%. There was no significant news from the company to explain the jump but it was revealed that H.C. Wainwright analyst Joseph Pantginis has initiated coverage on the stock and has given it a "buy" rating and an $11 price target. According to Pantginis, Soligenix's pipeline is driven by biotherapeutics (focusing on orphan disease such as cutaneous T-cell lymphoma, oral mucositis, pediatric Crohn's disease, acute radiation enteritis) and vaccines and biodefense (the company develops vaccines and therapeutics for military and civilian applications in the areas of ricin exposure, gastrointestinal acute radiation syndrome, and melioidosis). Pantginis remarked in the research note published yesterday, that the company has chosen a strategy that selects programs to target therapeutic niches where the FDA regulatory process may be accelerated. Soligenix is a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need.
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Aurinia Pharmaceuticals Inc.'s shares closed up 10.86% on Monday with a little over 9 million shares traded. There was no remarkable news to explain the move but last week the company announced that it had resolved a temporary noncompliance with NASDAQ's Audit Committee. The clinical stage biopharmaceutical company has a lead product called voclosporin which is designed to be used with CellCept to treat lupus nephritis (LN) patients. It has been granted "fast track status" by the U.S. Food & Drug Administration (FDA). According to the Lupus Research Alliance, lupus nephritis is a debilitating, autoimmune disease that causes inflammation of a patient's kidney.
Access RDI's Aurinia Pharmaceuticals Inc. Research Report at:
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