Aurinia Pharmaceuticals Inc (AUPH)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
The value signal is genuine and more robust than at many another biotech — an operationally profitable, growing one-product business with a well-stuffed till. But two things put the low price-to-earnings ratio into perspective: a third of the record 2025 profit is a one-time tax benefit, and all of the revenue hangs on one drug whose composition-of-matter patent expires in October 2027 — eight generic drugmakers are already lining up. The case is a bet that LUPKYNIS survives the patent trials and that the pipeline (aritinercept) delivers a second leg in time. If the patent protection holds and the pipeline follows through, the bet can pay off; if copycats arrive from 2027 on and a second product is missing, it hits the whole business. The decision is yours.
symbol.quality_note
Aurinia sells a single drug — LUPKYNIS, the first approved tablet against the kidney inflammation caused by lupus — and is thus the rare, genuinely profitable biotech in our value scanner built on Joel Greenblatt's Magic Formula. Revenue climbed from $158.5 million (2023) to $271.3 million (2025), operating income swung into the black, and the price-to-earnings ratio sits at about 8. We read the annual report (10-K) for 2025 and the quarterly report (10-Q) as of March 31, 2026: a third of the record profit is a one-time tax benefit, all of the revenue hangs on this one drug — and the composition-of-matter patent expires in 2027, with eight generic drugmakers already waiting. A cash count that tells a cheap price-to-earnings ratio from a genuine bargain.
Read the analysis
Stock Watch
This analysis is as of July 15, 2026. Stock Watch will tell you what's changed at AUPH since then.
Later $1 a month per stock — signing up is free, and you'll be the first to know when it launches.
Appears in These Scanners
This stock currently matches 7 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 14.90 $ — 61% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
NeutralGeprüft am 14.07.2026 gegen die Geschäftsberichte (10-K) 2025 (eingereicht 26.02.2026) und 2024 (27.02.2025) sowie die vier jüngsten Quartalsberichte (10-Q) bis zum 31.03.2026. In keinem der sechs ausgewerteten SEC-Filings von Aurinia Pharmaceuticals kommt künstliche Intelligenz vor — die Zeichenketten „artificial intelligence“ und „machine learning“ tauchen kein einziges Mal auf. Das Geschäft dreht sich vollständig um die Autoimmunkrankheit Lupus: das einzige zugelassene Produkt LUPKYNIS (voclosporin), die erste orale Therapie gegen Lupusnephritis, und den in Entwicklung befindlichen BAFF/APRIL-Hemmer aritinercept. Es gibt keine KI-Umsatzquelle, keinen belegten operativen KI-Einsatz und kein konkretes KI-Geschäftsrisiko fürs eigene Modell. Nach dem Kriterienkatalog bleibt es damit bei „Neutral“ (dokumentierter Negativ-Befund).
View the full file — quotes, sources, reviewed filings
„Aurinia is a biopharmaceutical company focused on delivering therapies to people living with autoimmune diseases with high unmet medical needs. In January 2021, the Company introduced LUPKYNIS (voclosporin), the first FDA-approved oral therapy for the treatment of adult patients with active lupus nephritis (“LN”)."
Aurinia ist ein biopharmazeutisches Unternehmen, das sich auf Therapien für Menschen mit Autoimmunerkrankungen mit hohem ungedecktem medizinischem Bedarf konzentriert. Im Januar 2021 führte das Unternehmen LUPKYNIS (voclosporin) ein, die erste von der FDA zugelassene orale Therapie zur Behandlung erwachsener Patienten mit aktiver Lupusnephritis (LN).
„Aurinia is also developing aritinercept, a dual inhibitor of B cell-activating factor (“BAFF”) and a proliferation-inducing ligand (“APRIL”) for the potential treatment of autoimmune diseases."
Aurinia entwickelt außerdem aritinercept, einen dualen Hemmer des B-Zell-aktivierenden Faktors (BAFF) und eines proliferationsauslösenden Liganden (APRIL) zur möglichen Behandlung von Autoimmunerkrankungen.
Filings Reviewed: 10-K 2026-02-26 · 10-K 2025-02-27 · 10-Q 2026-05-07 · 10-Q 2025-11-04 · 10-Q 2025-07-31 · 10-Q 2025-05-12
Rated on July 14, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 14.1% above the current price.
- Consensus
- Sell
- Analyst Ratings
- 6
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 0.95 | 0.85 – 1.04 | 326 | -54.1% | 5 |
| 12/31/2027 | 1.11 | 0.51 – 1.80 | 384 | 16.5% | 6 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.01 | – | 60 | 32.80 | 2.40 | 30 | 30 |
| 2025: Q1 | 0.17 | – | 63 | 24.20 | 37.40 | 1 | 1 |
| 2025: Q2 | 0.15 | 2,898.60 | 70 | 22.40 | 30.70 | 44 | 44 |
| 2025: Q3 | 0.23 | 135.50 | 74 | 8.40 | 42.90 | 44 | 44 |
| 2025: Q4 | 1.52 | 15,605.70 | 77 | 28.80 | 273.40 | 45 | 45 |
| 2026: Q1 | 0.25 | 48.50 | 78 | 24.40 | 44.20 | 33 | 33 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 0 | -23 | -23 | -0.66 | -19 | 36 | 57 |
| 2017 | 0 | -47 | -71 | -0.92 | -41 | 166 | 190 |
| 2018 | 0 | -56 | -64 | -0.76 | -52 | 113 | 146 |
| 2019 | 0 | -91 | -88 | -0.95 | -64 | 299 | 324 |
| 2020 | 50 | -104 | -103 | -0.87 | -70 | 408 | 464 |
| 2021 | 46 | -181 | -181 | -1.40 | -158 | 479 | 543 |
| 2022 | 134 | -111 | -108 | -0.76 | -80 | 405 | 471 |
| 2023 | 176 | -92 | -78 | -0.54 | -33 | 378 | 548 |
| 2024 | 235 | -5 | 6 | 0.04 | 44 | 377 | 551 |
| 2025 | 283 | 105 | 287 | 2.07 | 136 | 581 | 752 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
LUPKYNIS is growing solidly: net product revenue up from $158.5 million (2023) to $271.3 million (2025), Q1 2026 at $73.6 million (up about 23 percent). As the only approved oral therapy for lupus nephritis it has a genuine usage advantage; the pace of growth is easing, however (36 → 25 → 23 percent).
Unlike many biotechs, Aurinia is genuinely profitable operationally (operating income of $104.9 million in 2025, operating cash flow up 206 percent). But the record net income of $287.2 million contains a $173.0 million one-time, non-cash tax benefit; pre-tax income stood at $114.2 million. The price-to-earnings ratio of 8 thereby looks cheaper than justified.
About $398 million in cash and investments (December 31, 2025), very low debt, Altman Z 9.18, fundamental rating A — no distress. Buyback program topped up in July 2025 to a total of $300 million; capital flows back to shareholders instead of into a second product.
100 percent of product revenue hangs on a single drug — "our only approved product". The composition-of-matter protection for voclosporin expires in October 2027; eight generic drugmakers (among them Teva, Sandoz, Dr. Reddy's, Hikma) have filed approval applications, and Aurinia is suing them. Outcome open.
Market value about $2.2 billion, P/E about 8, P/S about 7, P/B about 4 — optically cheap, but the market is visibly pricing in the 2027 patent risk. In the LN market, BENLYSTA (GSK) and GAZYVA (Genentech) compete as injections (data as of July 8, 2026).
Aurinia is the rare, operationally genuinely profitable biotech in a value scanner: LUPKYNIS, the first approved tablet against the kidney inflammation caused by lupus, has driven revenue to $271.3 million and swung operating income into the black. But a third of the record 2025 profit is a one-time tax benefit, 100 percent of the business hangs on this one product, and the composition-of-matter protection ends in October 2027 — eight generic drugmakers are already waiting. A full till and low debt stand against a dated expiry of the core protection. Not investment advice.
- Membership in the value scanner "Joel Greenblatt: Magic Formula" (not a warning scanner) was confirmed locally and live on July 14, 2026; AUPH shows up in 7 value and quality scanners (Buffett criteria, EBIT-margin ranking, Magic Formula, P/E ranking, Peter Lynch PEG, quality stocks, owner-earnings yield), in no warning scanner.
- All earnings and balance-sheet figures come from the audited annual report 10-K for 2025 (filed 26.02.2026) and the quarterly report 10-Q as of 31.03.2026; the 2025 net income contains a one-time tax benefit of $173.0 million from the release of the valuation allowance on deferred taxes.
- Price and valuation figures are dated July 8, 2026 (about $17.60, about 133 million shares); analyses are evergreen, daily prices are not a buy argument. The composition-of-matter patent on voclosporin expires in October 2027.
About the Company
Aurinia Pharmaceuticals Inc., ein biopharmazeutisches Unternehmen, befasst sich mit der Bereitstellung von Therapien für Menschen mit Autoimmunerkrankungen mit hohem ungedecktem medizinischem Bedarf in den USA und Japan.
| CEO Insider Trades (12 Mo.) | buying own stock |
|---|---|
| Employees | 128 |
| Headquarters | Edmonton, AB |
| Address | #140, 14315 – 118 Avenue, T5L 4S6 Edmonton, Canada |
| Phone | 250 744 2487 |
| Website | auriniapharma.com |
| IPO Date | 26. Jan 1999 |
| ISIN | CA05156V1022 |
| Stock Split | 1:50 on 10/23/2013 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Kevin C. Tang | Chairman & CEO | 1967 |
| Stephen P. Robertson | Chief Legal Officer, Corporate Secretary & Chief Compliance Officer | 1982 |
| Peter S. Greenleaf M.B.A. | Consultant | 1970 |
| Michael S. Hearne CPA | Chief Financial Officer | 1963 |
| Ryan Cole | Chief Operating Officer | 1987 |
| Thomas Wei | Chief Scientific Officer | 1976 |
| Stewart M. Kroll | Chief Development Officer | 1959 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.