Jefferies upgraded Aurinia Pharmaceuticals (AUPH) to Buy from Hold with a price target of $21, up from $10. The company’s commercial performance with Lupkynis has driven a strong balance sheet and positive cash flow, the analyst tells investors in a research note. The firm also sees Aurinia’s BAFF/APRIL inhibitor aritinercept as “under-the-radar” with a “derisked” mechanism of action. The drug should get more attention as Aurinia announced a development path in early 2026, contends Jefferies.
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