Aurinia Pharmaceuticals (AUPH) PT Lowered to $6 at Jefferies

Jefferies analyst Maury Raycroft lowered the price target on Aurinia Pharmaceuticals (NASDAQ: AUPH) to $6.00 (from $9.00) while maintaining a Hold rating.

The analyst comments "AUPH's strong PSFs (w/ pt restarts) bodes well w/ $200-220M rev guidance. 2Q sales should provide clarity into rest of yr. W/ updated drug label, we expect persistency to further improve and co to generate consistent revs along w/ +(ve) cash flow, which creates an appealing profile to some investors; cash will provide optionality for pipeline/product diversification for catalysts+other strategic needs w/ more to come. Maintain Hold; PT $6 (prior $9)."

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