RBC Capital downgraded Aurinia Pharmaceuticals (AUPH) to Sector Perform from Outperform with a price target of $15, up from $9. The firm says the shares have doubled over the last 12 months due to stronger than expected Lupkynis sales and improved operating leverage. RBC no longer believes the shares “carry an asymmetric risk/reward outlook.” It wants more clarity on aritinercept’s future development path before again recommending the shares.
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