Aurinia Pharmaceuticals Inc (NASDAQ:AUPH, TSE:AUP) shares advanced more than 8% on Friday in New York after the stock was reiterated a Speculative Buy and price target at $8.00 by brokers at Mackie Research.
“Yesterday, after market close, AUPH announced that the FDA only requires one successful Phase 3 trial to file its NDA (the FDA usually requires two successful Phase 3 trials). We are maintaining our Speculative Buy,” Mackie said in a note.
The broker remarked that dual-listed Aurinia has a smart clinical team well versed in lupus trials. Voclosporin is being developed to treat lupus nephritis.
Although the stock sold off on Thursday, it bounced back this session. Aurinia shares were up 8.2% to $2.76 on Friday.
Meanwhile, coverage of Bengal Energy Ltd (TSE:BNG) is initiated by Mackie with a Speculative Buy recommendation and price target of C$0.55.
Bengal holds an interest in four large blocks within the Cooper Basin located in east-central Australia. The company produces high quality, light, sweet crude that sells at premium pricing to international benchmarks. Cash flow generated from its light oil plays will support the exploration of its large inventory of high-impact natural gas prospects within the booming Austrian market.
“In the event Bengal’s exploration efforts prove successful, we believe the company could become the target of a takeover by LNG exporters looking to secure new supply,” Mackie said.
United Therapeutics Corporation (NASDAQ:UTHR) was reiterated Outperform with $229 price target by brokers at Wedbush on Friday.
“We continue to believe shares of UTHR are undervalued as we believe investors have overemphasized the impact of generic treprostinil and undervalue potential growth from new delivery mechanisms and new indications for approved products to maintain historical growth into the future,” the broker said in a note.
UTHR shares were up 0.5% at $113.97 on Friday.