Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) shares are trading lower Thursday afternoon after the lupus-focused drugmaker posted fourth quarter earnings and raised expectations for continued growth in 2026.
Here’s what investors need to know.
- Aurinia Pharmaceuticals stock is feeling bearish pressure. What’s pressuring AUPH stock?
Lupkynis Sales Drive Full-Year Growth
The company reported fourth-quarter 2025 adjusted earnings of 26 cents a share, beating analysts’ consensus of 22 cents and surging from one cent a year earlier. Quarterly revenue rose to $77.1 million from $59.9 million, topping the Street’s $74.8 million forecast.
Sales of flagship lupus nephritis medicine Lupkynis increased 29% year over year to $74.2 million in the quarter and 25% for the full year, reaching $271.3 million. Total 2025 revenue climbed 20% to $283.1 million, while net income jumped to $287.2 million, helped by a large income-tax benefit.
2026 Revenue Outlook Trails Estimates
Management also used its improved cash flow to repurchase 12.2 million shares for $98.2 million, ending the year with $398 million in cash, equivalents and investments.
For 2026, Aurinia guided to total revenue of $315 million to $325 million, implying 11% to 15% growth but coming in slightly below the roughly $327 million Wall Street consensus.
The company expects Lupkynis net product sales of $305 million to $315 million.
Investors Weigh Guidance, Tax Benefit Impact
CEO Peter Greenleaf said Aurinia aims to drive further Lupkynis adoption and advance autoimmune candidate aritinercept, now entering additional clinical studies in 2026.
The stock’s decline suggests investors are focusing on the conservative top-line outlook and the one-time tax benefit behind 2025’s outsized profit, despite double-digit sales growth.
Pullback Emerges As 200-Day Trend Holds
AUPH has traded in a $7.20–$16.37 range over the past year, breaking out in mid-2025 and rallying into the mid-teens with a peak near $16.37 in late 2025.
Since then, the stock has pulled back into early 2026, with the shorter-term moving averages flattening while the 200-day SMA continues to trend higher, signaling longer-term uptrend support.
AUPH Shares Edge Lower Thursday Afternoon
AUPH Price Action: Aurinia Pharmaceuticals shares were down 3.15% at $13.98 at the time of publication on Thursday, according to Benzinga Pro data.
Image: Shutterstock
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