Aurinia Pharmaceuticals Inc (NASDAQ: AUPH)
Aurinia Pharmaceuticals is having an incredibly strong start to the trading session today. When the opening bell rang, the stock was already trading well into the green. While we’re only minutes into the session, the stock has already seen some ups and some downs, but has maintained relatively strong gains. Below, we’ll talk about what we’re seeing from AUPH, why, and what we’ll be watching for ahead.
What We’re Seeing From AUPH
As mentioned above, Aurinia Pharmaceuticals is having a relatively strong day in the market today. In fact, when the trading session started, the stock hit the ground running, already trading on impressive gains. In the few minutes since, we’ve seen some upward movement and some downward movement, but the stock is holding steadily to the profits. At the moment (9:42), AUPH is trading at $3.72 per share after a gain of $0.11 per share (2.90%) thus far today.
Why The Stock Is Climbing
As is just about always the case, our partners at Trade Ideas were the first to inform us of the gains on AUPH. As soon as they did, the CNA Finance team started to work to uncover the reason for the movement. Unfortunately, we weren’t able to find any fundamental news that would suggest such gains. However, we were able to find something interesting in social media.
At the moment, investors in Aurinia Pharmaceuticals seem to be voicing the same opinions on both Twitter and StockTwits. Ultimately, they’re looking at the stock as a strong takeover target. Now, keep in mind that there have been no offers to take the company over. However, it is an understandable opinion, considering all that we’ve heard from the company as of late.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on AUPH. In particular, we’re watching to see if any acquisition news will be coming down the line any time soon. While we don’t have very high hopes considering that offers haven’t been made as of yet, it would return value to shareholders if it does happen. We’ll keep a close eye on the news and bring it to you as it breaks!
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