Aurinia Pharmaceuticals (AUPH)


Market Price (10/21/2026): $16.74 | Market Cap: $2.2 BilSector: Health Care | Industry: Biotechnology

Aurinia Pharmaceuticals (AUPH)


Market Price (10/21/2026): $16.74
Market Cap: $2.2 Bil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 14%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 9.0%, FCF Yield is 8.0%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17%

Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 48%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 56%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 56%

Low stock price volatility
Vol 12M is 38%

Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more.

Key risks
AUPH key risks include [1] its heavy reliance on a single product, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 14%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 9.0%, FCF Yield is 8.0%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17%
2 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 48%
3 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 56%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 56%
4 Low stock price volatility
Vol 12M is 38%
5 Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more.
6 Key risks
AUPH key risks include [1] its heavy reliance on a single product, Show more.

AUPH in ETFs

Weight = AUPH's share of each fund

IWM0.07%
IBB0.14%
IWO0.14%
VTWO0.06%
VHT0.02%
ONEQ0.01%
IWV0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/1/2026

Aurinia Pharmaceuticals (AUPH) stock has remained largely at the same level since 6/30/2026 because of the following key factors:

1. Aurinia Pharmaceuticals reported lower-than-expected revenue for fiscal Q2 2026. The company's total revenue for the three months ended June 30, 2026, was reported as $58.57 million, falling short of analyst estimates of $80.45 million. This revenue miss, reported on August 6, 2026, likely contributed to negative investor sentiment despite an earnings per share (EPS) beat.

2. Concerns over the clarity and timelines for pipeline updates created uncertainty regarding future growth drivers. While Aurinia initiated the PRESERVE Phase 4 study for Lupkynis combinations on July 6, 2026, an August 12, 2026, report highlighted a lack of clear timelines for further updates on other pipeline assets, such as aritinercept. This perceived lack of transparency on the development of new drugs may have unsettled investors looking for long-term growth catalysts beyond the existing product, Lupkynis.

Show more
Updated on 10/1/2026

Aurinia Pharmaceuticals (AUPH) stock has remained largely at the same level since 6/30/2026 because of the following key factors:

1. Aurinia Pharmaceuticals reported lower-than-expected revenue for fiscal Q2 2026. The company's total revenue for the three months ended June 30, 2026, was reported as $58.57 million, falling short of analyst estimates of $80.45 million. This revenue miss, reported on August 6, 2026, likely contributed to negative investor sentiment despite an earnings per share (EPS) beat.

2. Concerns over the clarity and timelines for pipeline updates created uncertainty regarding future growth drivers. While Aurinia initiated the PRESERVE Phase 4 study for Lupkynis combinations on July 6, 2026, an August 12, 2026, report highlighted a lack of clear timelines for further updates on other pipeline assets, such as aritinercept. This perceived lack of transparency on the development of new drugs may have unsettled investors looking for long-term growth catalysts beyond the existing product, Lupkynis.

3. Analyst forecasts anticipate a significant decrease in earnings per share for fiscal Q3 2026. The consensus EPS forecast for the upcoming fiscal Q3 2026 is $0.22, representing a projected decrease of 21.43% compared to the previous earnings report. This forward-looking decline in profitability expectations, with the next earnings release expected around late October or early November 2026, could have pressured the stock price during the specified period.

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Stock Movement Drivers

Fundamental Drivers

The -1.4% change in AUPH stock from 6/30/2026 to 10/20/2026 was primarily driven by a -8.0% change in the company's P/E Multiple.
(LTM values as of)630202610202026Change
Stock Price ($)16.9716.74-1.4%
Change Contribution By: 
Total Revenues ($ Mil)2983124.4%
Net Income Margin (%)100.0%100.8%0.9%
P/E Multiple7.56.9-8.0%
Shares Outstanding (Mil)1321301.8%
Cumulative Contribution-1.4%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/20/2026
ReturnCorrelation
AUPH-1.4% 
Market (SPY)3.0%-13.6%
Sector (XLV)13.3%18.4%

Fundamental Drivers

The 13.0% change in AUPH stock from 3/31/2026 to 10/20/2026 was primarily driven by a 10.1% change in the company's Total Revenues ($ Mil).
(LTM values as of)331202610202026Change
Stock Price ($)14.8216.7413.0%
Change Contribution By: 
Total Revenues ($ Mil)28331210.1%
Net Income Margin (%)101.5%100.8%-0.6%
P/E Multiple6.86.91.8%
Shares Outstanding (Mil)1321301.5%
Cumulative Contribution13.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/20/2026
ReturnCorrelation
AUPH13.0% 
Market (SPY)18.6%6.0%
Sector (XLV)23.2%18.1%

Fundamental Drivers

The 51.5% change in AUPH stock from 9/30/2025 to 10/20/2026 was primarily driven by a 332.6% change in the company's Net Income Margin (%).
(LTM values as of)930202510202026Change
Stock Price ($)11.0516.7451.5%
Change Contribution By: 
Total Revenues ($ Mil)26031219.8%
Net Income Margin (%)23.3%100.8%332.6%
P/E Multiple24.66.9-71.8%
Shares Outstanding (Mil)1351303.7%
Cumulative Contribution51.5%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/20/2026
ReturnCorrelation
AUPH51.5% 
Market (SPY)16.4%18.9%
Sector (XLV)30.9%25.6%

Fundamental Drivers

The 115.4% change in AUPH stock from 9/30/2023 to 10/20/2026 was primarily driven by a 94.5% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202310202026Change
Stock Price ($)7.7716.74115.4%
Change Contribution By: 
Total Revenues ($ Mil)16031294.5%
P/S Multiple6.97.00.9%
Shares Outstanding (Mil)1431309.8%
Cumulative Contribution115.4%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/20/2026
ReturnCorrelation
AUPH115.4% 
Market (SPY)86.1%24.8%
Sector (XLV)46.3%24.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
AUPH Return65%-81%108%-0%78%3%19%
Peers Return29%12%-16%9%24%23%103%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
AUPH Win Rate67%33%67%67%58%60% 
Peers Win Rate62%55%37%55%63%64% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
AUPH Max Drawdown-47%-82%-42%-48%-20%-22% 
Peers Max Drawdown-15%-20%-26%-21%-20%-16% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: BMY, GILD, ABBV, JNJ, PFE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/20/2026 (YTD)

How Low Can It Go

EventAUPHS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-33.1%-9.5%
  % Gain to Breakeven49.4%10.5%
  Time to Breakeven642 days24 days
2020 COVID-19 Crash
  % Loss-43.4%-33.7%
  % Gain to Breakeven76.6%50.9%
  Time to Breakeven544 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-21.2%-19.2%
  % Gain to Breakeven27.0%23.8%
  Time to Breakeven65 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-14.9%-3.7%
  % Gain to Breakeven17.5%3.9%
  Time to Breakeven22 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-51.5%-12.2%
  % Gain to Breakeven106.3%13.9%
  Time to Breakeven195 days62 days
2014-2016 Oil Price Collapse
  % Loss-55.4%-6.8%
  % Gain to Breakeven124.1%7.3%
  Time to Breakeven204 days15 days

Compare to BMY, GILD, ABBV, JNJ, PFE

In The Past

Aurinia Pharmaceuticals's stock fell -8.5% during the 2025 US Tariff Shock. Such a loss loss requires a 9.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventAUPHS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-33.1%-9.5%
  % Gain to Breakeven49.4%10.5%
  Time to Breakeven642 days24 days
2020 COVID-19 Crash
  % Loss-43.4%-33.7%
  % Gain to Breakeven76.6%50.9%
  Time to Breakeven544 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-21.2%-19.2%
  % Gain to Breakeven27.0%23.8%
  Time to Breakeven65 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-51.5%-12.2%
  % Gain to Breakeven106.3%13.9%
  Time to Breakeven195 days62 days
2014-2016 Oil Price Collapse
  % Loss-55.4%-6.8%
  % Gain to Breakeven124.1%7.3%
  Time to Breakeven204 days15 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-44.8%-15.4%
  % Gain to Breakeven81.2%18.2%
  Time to Breakeven74 days125 days
2008-2009 Global Financial Crisis
  % Loss-90.1%-53.4%
  % Gain to Breakeven911.6%114.4%
  Time to Breakeven1814 days1085 days

Compare to BMY, GILD, ABBV, JNJ, PFE

In The Past

Aurinia Pharmaceuticals's stock fell -8.5% during the 2025 US Tariff Shock. Such a loss loss requires a 9.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Aurinia Pharmaceuticals (AUPH)

Aurinia Pharmaceuticals Inc. (AUPH) is a commercial-stage biopharmaceutical company dedicated to developing and commercializing specialized therapies. The company operates with a focus on addressing significant unmet medical needs in various disease areas, serving patients and healthcare providers in the United States and internationally.

Aurinia's flagship product is LUPKYNIS, a targeted treatment specifically approved for adult patients suffering from active lupus nephritis. Lupus nephritis is a serious autoimmune disease that causes inflammation in the kidneys. Through LUPKYNIS, Aurinia aims to provide an effective therapeutic option for this specific patient population, leveraging its expertise in delivering innovative solutions for complex medical conditions. The company also maintains strategic collaborations, such as with Otsuka Pharmaceutical Co., Ltd., to further its mission.

AI Analysis | Feedback

Here are 1-3 brief analogies for Aurinia Pharmaceuticals:

Analogies for Aurinia Pharmaceuticals (AUPH):

  • Vertex Pharmaceuticals for lupus nephritis.
  • An emerging Biogen, but focused on specific autoimmune diseases like lupus nephritis.

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  • LUPKYNIS: A therapy for the treatment of adult patients with active lupus nephritis.

AI Analysis | Feedback

Aurinia Pharmaceuticals (AUPH), as a commercial-stage biopharmaceutical company selling a prescription drug (LUPKYNIS), primarily sells its product to other companies within the pharmaceutical supply chain rather than directly to individuals. The major customers for such companies are typically large pharmaceutical wholesalers and specialty pharmacies.

Therefore, Aurinia Pharmaceuticals' major customers are likely to include:

  • Pharmaceutical Wholesalers: These companies purchase drugs in bulk and distribute them to hospitals, pharmacies, and clinics across the country. Key players in this sector often represent a significant portion of a biopharmaceutical company's sales. Examples include:
  • Specialty Pharmacies: For drugs like LUPKYNIS, which may require specific handling, patient support, or are high-cost, sales often go through a network of specialty pharmacies. These pharmacies manage and dispense complex or high-cost medications directly to patients, often coordinating with insurance providers and healthcare professionals.

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  • Thermo Fisher Scientific Inc. (TMO)
  • Catalent Inc. (CTLT)
  • Sterling Pharma Solutions Limited

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Peter Greenleaf, President, Chief Executive Officer and Director

Mr. Greenleaf has served as President, Chief Executive Officer, and Director of Aurinia Pharmaceuticals since 2019. He brings over 20 years of experience leading pharmaceutical and biotech firms. Notably, he was the Chairman and CEO of Sucampo Pharmaceuticals, Inc. from 2014 to 2018, leading it through a successful sale to Mallinckrodt plc for $1.2 billion. Prior to that, he served as CEO and Director of Cerecor Inc. from 2018 to 2019, and as President of MedImmune, Inc. (now AstraZeneca PLC), the global biologics arm of AstraZeneca, from 2006 to 2013. He also led MedImmune Ventures, Inc., a venture capital fund, where he guided investments in emerging biopharmaceutical and diagnostic companies.

Joe Miller, Chief Financial Officer

Mr. Miller has served as Chief Financial Officer of Aurinia Pharmaceuticals since 2020, bringing over two decades of experience in financial leadership within the health sciences, biotech, and pharmaceutical sectors. Most recently, from 2018 to 2020, he was the Chief Financial Officer, Principal Executive Officer, and Corporate Secretary at Cerecor Inc., where he oversaw company acquisitions and a strategic divestiture of a commercial portfolio. Before Cerecor, he was the Vice President of Finance at Sucampo Pharmaceuticals, Inc. from 2015 to 2018, where he was instrumental in building the finance organization, which culminated in its $1.2 billion merger with Mallinckrodt. He is also a Certified Public Accountant.

Max Donley, Chief Operating Officer

Mr. Donley was appointed Chief Operating Officer of Aurinia Pharmaceuticals in 2024, having previously served as Executive Vice President, Operations and Strategy from 2019 to 2024. His prior experience includes serving as Global Head, Human Resources, Information Technology and Facilities at Senseonics Holdings, Inc. from 2018 to 2019. From 2014 through its acquisition in 2018, Mr. Donley was Executive Vice President of Global Human Resources, Information Technology and Corporate Strategy at Sucampo Pharmaceuticals, Inc. He also held the role of Executive Vice President, Human Resources and Corporate Affairs at MedImmune, Inc. (now AstraZeneca PLC) from 2000 to 2013.

Greg Keenan, M.D., Senior Vice President, Chief Medical Officer

Dr. Keenan has served as Aurinia's Senior Vice President, Chief Medical Officer since 2023. Prior to joining Aurinia, he held various positions at ValenzaBio, Inc. from 2021 to 2023.

Scott Habig, Chief Commercial Officer

Mr. Habig joined Aurinia Pharmaceuticals as Chief Commercial Officer in July 2022. He brings over 20 years of global and U.S. sales and marketing experience, with significant expertise in the Rheumatology and Lupus markets. Before Aurinia, he spent 10 years at UCB, Inc., where his most recent role was Head of Global SLE. Mr. Habig also served as Vice President, Sales at Human Genome Sciences, where he was responsible for developing sales infrastructure and leading a major lupus drug launch. Earlier in his career, he spent nine years at Centocor, Inc., where his leadership in sales and marketing strategies helped transform a multi-million-dollar pipeline into a multi-billion-dollar product.

AI Analysis | Feedback

Here are the key risks to Aurinia Pharmaceuticals (AUPH):

1. Heavy Reliance on LUPKYNIS

Aurinia Pharmaceuticals is substantially dependent on the commercial success of LUPKYNIS, its sole approved product, which accounts for over 95% of its total revenue. Any factors adversely affecting LUPKYNIS's market performance, regulatory status, or demand could have a disproportionate and significant negative impact on the company's financial results and overall business.

2. Competitive Threats

The market for lupus nephritis treatments is highly competitive, with LUPKYNIS facing challenges from both existing and newly approved therapies. While LUPKYNIS is the first FDA-approved oral therapy for lupus nephritis, it competes with injectable treatments such as GSK's BENLYSTA® and Roche's Gazyva® (approved in October 2025 for lupus nephritis). Emerging CAR-T therapies and other biologics also pose a threat, potentially eroding LUPKYNIS's market share and limiting its growth.

3. Patent Expiration and Litigation

LUPKYNIS is subject to patent challenges and eventual patent expiration, which could lead to generic competition. Although some patents, particularly those related to dosing protocols, may extend protection until 2037, the drug has already faced patent litigation. The earliest estimated generic launch date could be December 7, 2037, or potentially as early as October 17, 2027, if patent challenges are successful. The entry of cheaper generic versions could significantly reduce Aurinia's market share and profitability.

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One clear emerging threat for Aurinia Pharmaceuticals and its product LUPKYNIS (voclosporin) is **Telitacicept (RC18)**, developed by RemeGen. Telitacicept is a dual inhibitor of B-cell activating factor (BAFF) and A Proliferation-Inducing Ligand (APRIL), offering a different mechanism of action for autoimmune diseases. It is already approved in China for the treatment of systemic lupus erythematosus (SLE) and lupus nephritis (LN). RemeGen is currently conducting global Phase 3 clinical trials for SLE and Phase 3 trials for LN in China with aspirations for broader international market entry. If Telitacicept achieves global regulatory approvals for lupus nephritis, it would introduce a significant, directly competitive therapeutic option into the market, potentially challenging LUPKYNIS's market share due to its novel mechanism of action and established efficacy in certain markets.

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Aurinia Pharmaceuticals' main product, LUPKYNIS, targets the lupus nephritis treatment market. The addressable market for lupus nephritis is significant, both globally and specifically in the United States. Here are the market size estimates for lupus nephritis:
  • The global lupus nephritis market was valued at approximately USD 2.3 billion in 2025 and is predicted to reach USD 5.6 billion by 2034.
  • In 2024, the global lupus nephritis market size was estimated at USD 2314.5 million, with projections to increase to USD 4176.95 million by 2031.
  • For the 7 Major Markets (7MM), which include the United States, EU4 (Germany, France, Italy, and Spain), the United Kingdom, and Japan, the lupus nephritis market was valued at approximately USD 1,958 million in 2025 and is projected to grow to USD 4,088 million by 2034.
  • The United States holds a significant portion of this market, with an estimated market size of USD 730.46 million in 2024. North America, overall, accounted for over 40% of the global revenue, with a market size of USD 925.80 million in 2024. The U.S. lupus nephritis treatment industry is predicted to grow at a Compound Annual Growth Rate (CAGR) of 12.5% from 2025 to 2035.

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Aurinia Pharmaceuticals (AUPH) is expected to drive future revenue growth over the next 2-3 years through several key factors:

  1. Increased Patient Adoption and Adherence for LUPKYNIS: The company's primary revenue driver is its flagship product, LUPKYNIS, for lupus nephritis. Aurinia Pharmaceuticals expects continued strong commercial momentum for LUPKYNIS, driven by growth in patient numbers, as well as high adherence and persistency rates among existing patients. Management has indicated seeing "growth across patients" and "very solid and continued adherence to the product and persistency." For 2026, the company projects LUPKYNIS net product sales to be between $305 million and $315 million, representing a 12-16% increase over 2025.
  2. Favorable Impact of Updated Treatment Guidelines: Recent updates to the American College of Rheumatology (ACR) lupus nephritis treatment guidelines emphasize early and aggressive treatment, recommending the incorporation of drugs like LUPKYNIS into first-line therapy to preserve kidney function. These updated guidelines are anticipated to further drive the adoption and utilization of LUPKYNIS, contributing significantly to revenue growth.
  3. Advancement of the Aritinercept Clinical Pipeline: Aurinia Pharmaceuticals is actively developing aritinercept, a pipeline asset targeting multiple autoimmune diseases. The company initiated one clinical study for aritinercept and plans to commence another in the first half of 2026. This strategic focus on advancing its pipeline, particularly aritinercept, aims to diversify Aurinia's product offerings and create new revenue streams beyond LUPKYNIS in the medium term.
  4. International Expansion through Collaboration: While LUPKYNIS sales primarily contribute to U.S. revenue, the collaboration and license agreement with Otsuka Pharmaceutical Co., Ltd. presents opportunities for international expansion. Although a $10 million milestone payment for LUPKYNIS regulatory approval in Japan was recognized in 2024, the ongoing partnership with Otsuka could lead to further market penetration and revenue contributions from ex-U.S. territories as LUPKYNIS gains approvals and commercial traction in new regions.

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Share Repurchases

  • Aurinia's Board of Directors approved a share repurchase program of up to $150 million, with purchases commencing on February 21, 2024.
  • An additional $150 million was authorized for the share repurchase plan in July 2025.
  • By December 31, 2025, the company had repurchased 12.2 million common shares for $98.2 million during that year. By February 26, 2026, a total of 18,302,352 shares, valued at $138.58 million, had been repurchased under the program announced in February 2024.

Share Issuance

  • No significant share issuances were reported within the last 3-5 years (March 2021 - March 2026). However, in July 2020, just prior to this period, Aurinia completed a public offering of common shares, raising approximately US$200 million in gross proceeds.

Inbound Investments

  • Aurinia has a collaboration and license agreement with Otsuka Pharmaceutical Co., Ltd. for the development and commercialization of LUPKYNIS in territories including Japan, the E.U., the U.K., and Switzerland.
  • In the fourth quarter of 2025, Aurinia received a $10 million milestone payment related to LUPKYNIS's regulatory approval in Japan.
  • In June 2023, the Board of Directors initiated an exploration of strategic alternatives, which could include a potential sale, merger, or other strategic transaction to enhance shareholder value.

Capital Expenditures

  • Capital expenditures for Aurinia Pharmaceuticals were -$252,000 in the last 12 months (as of early 2026).
  • Cash from investing activities for 2025 was USD -32.8 million.

Better Bets vs. Aurinia Pharmaceuticals (AUPH)

Peer Outperformance in Biotechnology

AUPH has outperformed 73% of its 361 Biotechnology peers over 5Y. Among the peers that beat it are LGND and TWST. Biotechnology ranks 9th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Biotechnology constituents that AUPH has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
80%
of 451 industry peers · 41.4% return
3Y
78%
of 397 industry peers · 123.2% return
5Y
73%
of 361 industry peers · -18.9% return
Biotechnology peers with revenue growth within 4pp of AUPH's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
AUPH Aurinia Pharmaceuticals 24.9% 6.9x 41.4%123.2%-18.9% —
LGND Ligand Pharmaceuticals 23.2% 31.2x 64.1%488.2%133.2% +152pp
TWST Twist Bioscience 22.4% -65.1x 335.9%751.9%21.2% +40pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is AUPH's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 18.5%55.2%102.0% CAH 479% · MCK 412% · COR 196%
Health Care Services 20 17.6%41.0%11.8% HIMS 252% · RDNT 134% · DGX 78%
Health Care Facilities 24 5.0%18.5%6.1% THC 315% · NHC 301% · ENSG 147%
Managed Health Care 8 39.5%0.2%4.7% OSCR 107% · HQY 44% · ELV 12%
Health Care Equipment 50 -4.3%4.2%-11.9% UFPT 362% · GKOS 275% · TMDX 178%
Pharmaceuticals 61 -11.8%2.7%-33.0% LQDA 913% · KNSA 665% · CORT 498%
Health Care Supplies 11 14.1%-7.3%-41.0% LNTH 331% · HAE 67% · MMSI 30%
Life Sciences Tools & Services 109 -12.9%-9.4%-66.4% NTRA 261% · MEDP 231% · IRTC 63%
Biotechnology ← 362 -23.9%-23.8%-80.5% DNTH 1102% · ELVN 1036% · ADMA 912%
Health Care Technology 22 -30.8%-64.5%-82.7% VEEV 0% · DOCS -54%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

AUPHBMYGILDABBVJNJPFEMedian
NameAurinia .Bristol .Gilead S.AbbVie Johnson .Pfizer  
Mkt Price16.7461.50156.00287.65258.0829.84108.75
Mkt Cap2.2125.6193.9508.9621.3170.1182.0
Rev LTM31249,18730,45664,38697,92963,69556,441
Op Inc LTM15113,84211,71621,85026,25617,01915,430
FCF LTM17511,44012,94318,21022,22810,98512,192
FCF 3Y Avg8912,9889,73618,07619,4869,41111,362
CFO LTM17512,78213,55219,50727,60813,40113,476
CFO 3Y Avg8914,28210,29619,14325,09312,19813,240

Growth & Margins

AUPHBMYGILDABBVJNJPFEMedian
NameAurinia .Bristol .Gilead S.AbbVie Johnson .Pfizer  
Rev Chg LTM19.8%3.1%5.5%10.4%8.1%-0.2%6.8%
Rev Chg 3Y Avg24.9%2.9%3.6%4.9%6.0%-5.2%4.2%
Rev Chg Q18.9%5.7%10.2%10.2%6.6%2.6%8.4%
QoQ Delta Rev Chg LTM4.4%1.5%2.4%2.5%1.6%0.6%2.0%
Op Inc Chg LTM118.5%39.1%7.6%59.5%21.4%2.1%30.2%
Op Inc Chg 3Y Avg128.4%22.3%-0.8%11.2%6.7%233.9%16.7%
Op Mgn LTM48.4%28.1%38.5%33.9%26.8%26.7%31.0%
Op Mgn 3Y Avg16.5%21.4%37.0%27.5%25.6%18.7%23.5%
QoQ Delta Op Mgn LTM6.6%0.1%-1.6%0.8%0.0%-0.5%0.1%
CFO/Rev LTM56.3%26.0%44.5%30.3%28.2%21.0%29.2%
CFO/Rev 3Y Avg30.4%29.9%35.2%32.4%27.4%19.7%30.1%
FCF/Rev LTM56.2%23.3%42.5%28.3%22.7%17.2%25.8%
FCF/Rev 3Y Avg30.3%27.2%33.3%30.6%21.2%15.1%28.7%

Valuation

AUPHBMYGILDABBVJNJPFEMedian
NameAurinia .Bristol .Gilead S.AbbVie Johnson .Pfizer  
Mkt Cap2.2125.6193.9508.9621.3170.1182.0
P/S7.02.66.47.96.32.76.4
P/Op Inc14.49.116.623.323.710.015.5
P/EBIT13.29.2-202.643.823.724.618.5
P/E6.913.5-59.880.629.539.321.5
P/CFO12.49.814.326.122.512.713.5
Total Yield14.4%11.4%0.4%3.6%5.4%8.2%6.8%
Dividend Yield0.0%4.0%2.1%2.3%2.0%5.7%2.2%
FCF Yield 3Y Avg4.8%12.4%6.8%4.5%4.6%6.7%5.7%
D/E0.00.40.10.10.10.40.1
Net D/E-0.20.30.10.10.00.30.1

Returns

AUPHBMYGILDABBVJNJPFEMedian
NameAurinia .Bristol .Gilead S.AbbVie Johnson .Pfizer  
1M Rtn-0.9%-1.5%3.9%9.6%-4.4%7.9%1.5%
3M Rtn7.0%2.0%20.4%13.0%3.5%21.7%10.0%
6M Rtn5.8%5.8%18.5%42.1%15.3%13.0%14.2%
12M Rtn41.4%47.4%29.8%27.7%36.2%29.3%33.0%
3Y Rtn123.2%25.5%120.4%117.3%83.7%18.1%100.5%
1M Excs Rtn2.1%0.6%5.0%10.8%-2.9%8.9%3.6%
3M Excs Rtn7.1%0.1%18.2%12.1%-0.7%20.2%9.6%
6M Excs Rtn-2.6%-2.6%10.1%33.7%6.9%4.7%5.8%
12M Excs Rtn30.0%32.3%15.3%14.2%21.7%15.5%18.6%
3Y Excs Rtn45.6%-51.3%44.1%38.2%2.6%-63.6%20.4%

Comparison Analyses

null

FDA Approved Drugs Data

Expand for More
Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
NDA213716  LUPKYNISvoclosporincapsule1222021-15.9%-23.6%9.4%-43.9%12.7%
Collapse to Preview
Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
NDA213716  LUPKYNISvoclosporincapsule1222021-15.9%-23.6%9.4%-43.9%12.7%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment283235176134 
License, collaboration and royalty revenue    0
Product revenue, net    45
Total28323517613446


Operating Income by Segment
$ Mil20032002
Diagnostic00
Therapeutic drug-44
Corporate-11-4
Total-15-0


Assets by Segment
$ Mil20092007200620052004
Corporate533234652
Therapeutic Drug5    
Diagnostic 1112
Therapeutic drug 8778
Total1043315461


Price Behavior

Price Behavior
Market Price$16.74 
Market Cap ($ Bil)2.2 
First Trading Date02/21/2008 
Distance from 52W High-10.1% 
   50 Days200 Days
DMA Price$16.26$15.58
DMA Trendupindeterminate
Distance from DMA2.9%7.5%
 3M1YR
Volatility31.8%37.6%
Downside Capture-88.6242.81
Upside Capture-35.9578.06
Correlation (S&P 500)-19.7%19.7%
AUPH Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta-0.45-0.66-0.510.200.570.76
Up Beta-1.86-0.52-0.130.420.820.80
Down Beta0.34-1.40-1.760.250.500.43
Up Capture-40%-28%-39%16%60%85%
Bmk +ve Days6162766132424
Stock +ve Days7162558119359
Down Capture-28%-138%-23%1%38%96%
Bmk -ve Days16263760120328
Stock -ve Days14253867126375

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with AUPH
AUPH45.1%37.6%1.06-
Sector ETF (XLV)27.2%16.2%1.2924.1%
Equity (SPY)16.8%12.7%0.9318.9%
Gold (GLD)-2.9%29.3%-0.108.1%
Commodities (DBC)52.5%20.7%1.93-12.3%
Real Estate (VNQ)5.1%13.8%0.1117.5%
Bitcoin (BTCUSD)-23.7%43.6%-0.507.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with AUPH
AUPH-4.1%64.1%0.20-
Sector ETF (XLV)9.2%15.3%0.4024.5%
Equity (SPY)13.6%17.1%0.6129.1%
Gold (GLD)18.1%18.9%0.776.9%
Commodities (DBC)9.7%19.5%0.38-2.6%
Real Estate (VNQ)1.4%18.9%-0.0327.0%
Bitcoin (BTCUSD)7.7%51.7%0.3315.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with AUPH
AUPH13.5%69.6%0.47-
Sector ETF (XLV)11.4%16.8%0.5621.0%
Equity (SPY)15.3%17.9%0.7223.5%
Gold (GLD)12.1%16.4%0.604.6%
Commodities (DBC)8.2%18.1%0.374.3%
Real Estate (VNQ)5.2%20.7%0.2118.1%
Bitcoin (BTCUSD)62.9%66.2%1.037.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity7.9 Mil
Short Interest: % Change Since 9152026-7.6%
Average Daily Volume0.8 Mil
Days-to-Cover Short Interest9.4 days
Basic Shares Quantity130.1 Mil
Short % of Basic Shares6.1%

Earnings Returns History

Updated 9/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/20266.2%1.7%6.1%
5/7/2026-6.8%-1.3%-2.5%
7/31/20252.2%28.3%33.5%
11/7/202410.9%10.1%18.8%
8/1/2024-4.6%-9.5%17.3%
2/15/2024-24.5%-24.7%-35.1%
11/2/202310.5%13.0%27.1%
8/3/20234.2%-6.6%-10.5%
...
SUMMARY STATS   
# Positive657
# Negative564
Median Positive8.4%13.0%18.8%
Median Negative-6.8%-8.1%-14.4%
Max Positive23.1%30.3%49.8%
Max Negative-24.5%-24.7%-35.1%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/20266.2%1.7%6.1%
5/7/2026-6.8%-1.3%-2.5%
7/31/20252.2%28.3%33.5%
11/7/202410.9%10.1%18.8%
8/1/2024-4.6%-9.5%17.3%
2/15/2024-24.5%-24.7%-35.1%
11/2/202310.5%13.0%27.1%
8/3/20234.2%-6.6%-10.5%
5/4/2023-3.0%-3.8%-18.4%
8/5/202123.1%30.3%49.8%
5/6/2021-17.8%-11.2%4.4%
SUMMARY STATS   
# Positive657
# Negative564
Median Positive8.4%13.0%18.8%
Median Negative-6.8%-8.1%-14.4%
Max Positive23.1%30.3%49.8%
Max Negative-24.5%-24.7%-35.1%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202502/26/202610-K
09/30/202511/04/202510-Q
06/30/202507/31/202510-Q
03/31/202505/12/202510-Q
12/31/202402/27/202510-K
09/30/202411/07/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/15/202410-K
09/30/202311/02/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/28/202310-K
09/30/202211/03/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202502/26/202610-K
09/30/202511/04/202510-Q
06/30/202507/31/202510-Q
03/31/202505/12/202510-Q
12/31/202402/27/202510-K
09/30/202411/07/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/15/202410-K
09/30/202311/02/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/28/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/10/202210-Q
12/31/202102/28/202210-K
09/30/202111/03/202110-Q
06/30/202108/05/202110-Q
03/31/202105/06/202110-Q
12/31/202002/24/202110-K
09/30/202011/10/20206-K
06/30/202008/11/20206-K
03/31/202005/14/20206-K
12/31/201903/05/202040-F
09/30/201911/14/20196-K

Recent Forward Guidance

Updated 10/4/2026

Latest: Q2 2026 Earnings Reported 8/6/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Total RevenueReported315.00 Mil320.00 Mil325.00 Mil0 AffirmedGuidance: 320.00 Mil for 2026
2026 Net Product SalesReported305.00 Mil310.00 Mil315.00 Mil0 AffirmedGuidance: 310.00 Mil for 2026


Prior: Q1 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Total RevenueReported315.00 Mil320.00 Mil325.00 Mil20.8% Higher NewGuidance: 265.00 Mil for 2025
2026 Net Product SalesReported305.00 Mil310.00 Mil315.00 Mil21.6% Higher NewGuidance: 255.00 Mil for 2025

Insider Activity

Updated 9/11/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Robertson, Stephen PChief Legal OfficerDirectSell911202615.9511,939190,4279,392,126Form
2Robertson, Stephen PChief Legal OfficerDirectSell825202616.9720,975355,94610,195,355Form
3Tang, KevinChief Executive OfficerLPBuy602202615.28206,0053,147,756199,313,940Form
4Tang, KevinChief Executive OfficerLPBuy602202615.28343,6205,250,520196,166,405Form
5Tang, KevinChief Executive OfficerLPBuy602202615.31264,9814,056,951191,294,840Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Robertson, Stephen PChief Legal OfficerDirectSell911202615.9511,939190,4279,392,126Form
2Robertson, Stephen PChief Legal OfficerDirectSell825202616.9720,975355,94610,195,355Form
3Tang, KevinChief Executive OfficerLPBuy602202615.28206,0053,147,756199,313,940Form
4Tang, KevinChief Executive OfficerLPBuy602202615.28343,6205,250,520196,166,405Form
5Tang, KevinChief Executive OfficerLPBuy602202615.31264,9814,056,951191,294,840Form
6Tang, KevinLPBuy303202614.22184,2082,619,438173,903,490Form
7Tang, KevinLPBuy303202614.26199,3532,842,833171,769,469Form
8Tang, KevinLPBuy303202613.99516,4397,226,535165,760,311Form

Investor Activity (13F)

Updated Oct 21, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
NEA Management Company, LLC$58.8 Mil3.3%26Hold13F
Active Manager
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
NEA Management Company, LLC$58.8 Mil3.3%26Hold13F
Core Cache Last Updated: 10/20/2026