Cantor says Aurinia M&A takeout chatter ‘picks back up’ after MKT letter

Cantor Fitzgerald analyst Olivia Brayer notes that MKT Capital announced it intention to withhold support for three Aurinia Pharmaceuticals directors at the 2023 annual meeting and says the firm is "hearing a lot of chatter around Aurinia as a potential takeout target – fueling some of the recent M&A rumors that have driven quite the inflection in shares." The firm, which adds that the stock has been "one of our top inbound interest names in our coverage list so far in 2023," has an Overweight rating and $15 price target on Aurinia shares.