Shares of biopharmaceutical company Aurinia Pharmaceuticals (NASDAQ:AUPH) are up in double digits at the time of writing today after its Board began to look at strategic alternatives such as a merger, sale, or other strategic transactions.
The company is undertaking the move to maximize value for its investors and has roped in JP Morgan as a financial advisor.
Further, after receiving the resignations of George Milne and Joseph Hagan from its Board, Aurinia has engaged global talent firm Korn Ferry to hone in on two new directors.
Importantly, Aurinia’s Lupkynis is the first approved oral therapy for the treatment of active lupus nephritis on the market and the company has seen its topline surge from $45.6 million in 2021 to $134 million in 2022.
Overall, the Street has a $13.50 consensus price target on Aurinia alongside a Strong Buy consensus rating. Shares of the company have surged nearly 54.2% so far this year already.
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