Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) shares are up during Thursday’s premarket session as the company has entered into a settlement agreement with Teva Pharmaceutical Industries Ltd. (NYSE:TEVA).
This news comes amidst a mixed market backdrop, with S&P 500 futures showing a slight loss of 0.03%.
Aurinia (AUPH) Settles Patent Litigation With Teva
Under the terms of the settlement, Teva has stipulated that Aurinia’s U.S. Patent Nos. 10,286,036 and 11,622,991 (which expire in December 2037) are enforceable, valid, and would be infringed by commercial sales within the U.S. of its generic voclosporin product.
The settlement further provides that Teva may launch its generic voclosporin product no earlier than Dec. 7, 2036, unless certain defined contingencies occur earlier.
In January 2021, Aurinia introduced Lupkynis (voclosporin), the first FDA-approved oral therapy for adult patients with active lupus nephritis.
The company is also developing aritinercept, a dual inhibitor of B cell-activating factor and a proliferation-inducing ligand for autoimmune diseases.
AUPH Technical Outlook: Trend, Momentum And Key Levels
The stock has shown a solid performance over the past year, gaining approximately 34.64%.
Currently, it is trading above its 20-day simple moving average (SMA) of $15.31, which indicates a bullish short-term trend. The 50-day SMA is at $15.89, suggesting that while the stock is performing well, it still has some resistance to overcome in the medium term.
The moving average convergence divergence (MACD) is above its signal line, indicating that downside pressure is easing and momentum is improving. This suggests a potential for further upward movement if the current trend continues.
- Key Resistance: $19.25 — This level is significant as it marks the 52-week high, which could act as a barrier to further price increases.
- Key Support: $15.31 — This level aligns with the 20-day SMA, providing a cushion for the stock in case of a pullback.
How Aurinia (AUPH) Ranks On Value And Momentum
Below is the Benzinga Edge scorecard for Aurinia Pharmaceuticals, highlighting its strengths and weaknesses compared to the broader market:
- Value: 63.91 — Indicates a relatively favorable valuation compared to peers.
- Momentum: 71.77 — Suggests that the stock is currently outperforming the broader market.
The Verdict: Aurinia Pharmaceuticals’s Benzinga Edge signal reveals a balanced profile with strong momentum and favorable value indicators. This positioning may attract investors looking for growth opportunities in the biopharmaceutical sector.
AUPH Stock Price Activity: Aurinia Pharmaceuticals shares were up 2.66% at $16.60 during premarket trading on Thursday, according to Benzinga Pro data.
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