Aurinia Pharma (NASDAQ:AUPH) stock is on the rise Thursday as investors hold out hope for a takeover of the company.
The most recent reports claim that Novartis (NYSE:NVS) could be the next candidate that wants to bring Aurinia Pharma into its fold. This follows comments made by Novartis that it could seek out smaller acquisition deals to expand its business.
The idea of a larger healthcare company taking over Aurinia Pharma is nothing new. Several companies, including Bristol-Myers Squibb (NYSE:BMY) and GlaxoSmithKline (NYSE:GSK), have been named as potential buyers, reports SeekingAlpha.
AUPH stock was trending higher over the last few months as investors continued to believe a takeover was on the way. Instead, the stock took a sharp turn down after the company announced a mixed-shelf offering late last month. That dashed the idea that an acquisition was on the way.
Even so, traders are still choosing to believe that a buyout of Aurinia Pharma is in the works. The comments from Novartis have reignited this talk today with traders over on Twitter (NYSE:TWTR). Let’s check out what some of them have to say below
AUPH Stock Twitter Chatter
Just halt the stock and announce the deal please
I need it 🥴🙏🏼
— Kevin Wolcott (@Kevin_W81) December 2, 2021
— JusticePrevails (@Alexia06701396) December 2, 2021
— Varun Bhatt (@varunbhatt21) December 2, 2021
The extra attention on AUPH stock today brings heavy trading of the shares. As of this writing, more than 7 million shares have been traded. That’s nearly double the 4.7 million shares the company moves on average a day.
AUPH stock is up 14.9% as of Thursday afternoon.
There’s more of the latest stock market news for traders to take in below!
InvestorPlace is home to the most valuable stock coverage that you need to know for Thursday. A few examples include an update on the Square (NYSE:SQ)-Afterpay merger, what to do during the Omicron dip, as well as the news sending C3.ai (NYSE:AI) stock lower. You can get all of that info from the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.