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Trading List: Jan. 25 - Updates & Analyst Actions - AUPH, EXEL

Notable updates, news, or analysts actions from our trading lists followed by 'Our Take'.

Aurinia Pharmaceuticals price target raised to $28 from $20 at Oppenheimer

Oppenheimer analyst Justin Kim raised the firm's price target on Aurinia Pharmaceuticals to $28 from $20 and keeps an Outperform rating on the shares after the company hosted a conference call to discuss the recent approval of Lupkynis for the treatment of adults with active lupus nephritis. Kim, who views the approval of Lupkynis as "the first step toward Aurinia's unfolding commercial story in 2021," has updated his model to reflect the U.S. approval, an expected net price of about $65,000 per patient/year and to reflect a greater long-term opportunity for Lupkynis, he tells investors.

Aurinia Pharmaceuticals price target raised to $35 from $30 at H.C. Wainwright

H.C. Wainwright analyst Ed Arce raised the firm's price target on Aurinia Pharmaceuticals to $35 from $30 and keeps a Buy rating on the shares after voclosporin was been approved for adult patients with active lupus nephritis.

Our Take:  Nice day for AUPH after receiving FDA approval late Friday last week. Once this settles down, this is a longer term healthcare pick with good options for trading around a position.

$AUPH, Aurinia Pharmaceuticals Inc / H1

Piper says Exelixis could have 'blockbuster opportunity' with XL102

After Exelixis announced it has initiated Phase I study of XL102 to be evaluated as single agent and in combination in advanced solid tumors, Piper Sandler analyst Edward Tenthoff said there could be "a blockbuster opportunity" for the CDK7 inhibitor given that its dual mechanism of activity could potentially overcome limitations of CDK4/6 inhibitors. He reiterates an Overweight rating and $33 target on Exelixis shares.

Our Take: This remains on our favorites list and should be a good tradable biotech stock as well as a good longer term healthcare holding. Would build a position by selling puts.

Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

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