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Why Aurinia Pharmaceuticals' Stock Is Up Big Today

TheMotleyFool

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Why Aurinia Pharmaceuticals' Stock Is Up Big TodayPhoto, wide shot, wide-angle lens, Medical device manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/3a7f6312-1eee-4702-9005-93cc1e62f970.png

In response to receiving a favorable analyst rating, shares of Aurinia Pharmaceuticals (NASDAQ: AUPH), a clinical-stage biopharmaceutical company, rose 12% as of 3:55 p.m. EDT on Tuesday.

Investors can thank Justin Kim, an analyst at Oppenheimer, for today's double-digit jump. Kim initiated coverage on Aurinia Pharmaceuticals on Monday evening after the market closed and gave shares an "outperform" rating. A price target of $14 was also issued, which is considerably higher than the $5.80 closing share price on Monday.

Traders bid up shares in response to the bullish rating and sky-high price target.

Source Fool.com

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