BUZZ-Aurinia Pharmaceuticals: Canaccord starts with "buy"

Mon Oct 27, 2014 1:48pm EDT
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** Drug developer's shares up 11 pct at $3.24

** Canaccord Genuity analysts started coverage of stock with "buy" rating and $10 price target

** Analysts believe Aurinia's drug for inflammatory disease Lupus could peak at $630 million in the United States, if approved

** Company currently running mid-stage trials on drug

** Stock has fallen more than 12 pct in last six months