Will Aurinia Pharmaceuticals Inc Short Squeeze Soon? The Stock Just Gapped Up

 Will Aurinia Pharmaceuticals Inc Short Squeeze Soon? The Stock Just Gapped Up

The stock of Aurinia Pharmaceuticals Inc (TSE:AUP) gapped up by $0.02 today and has $9.54 target or 62.00% above today’s $5.89 share price. The 9 months technical chart setup indicates low risk for the $256.52 million company. The gap was reported on Nov, 16 by Barchart.com. If the $9.54 price target is reached, the company will be worth $159.04M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 86,654 shares traded hands. Aurinia Pharmaceuticals Inc (TSE:AUP) has risen 35.79% since April 12, 2016 and is uptrending. It has outperformed by 31.10% the S&P500.

Another recent and important Aurinia Pharmaceuticals Inc (TSE:AUP) news was published by Businesswire.com which published an article titled: “Aurinia Pharmaceuticals to Present at Stifel 2016 Healthcare Conference” on November 10, 2016.

Aurinia Pharmaceuticals Inc. is a Canada clinical-stage biopharmaceutical firm operating in the field of nephrology and autoimmunity. The company has a market cap of $256.52 million. The Company’s primary business is the development of a therapeutic drug to treat autoimmune diseases, in particular lupus nephritis . It currently has negative earnings. It is focused on the development of its lead compound voclosporin, a therapeutic immunomodulating drug candidate, which is a second-generation calcineurin inhibitors (CNI) to treat patients afflicted with LN.

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