Is Aurinia Pharmaceuticals, Inc. overvalued or undervalued?

As of 17 October 2025, Aurinia Pharmaceuticals, Inc. has moved from a very attractive to a fair valuation grade. The company appears to be fairly valued based on its current metrics. Key ratios include a P/E ratio of 19, an EV to EBITDA of 11.23, and a PEG ratio of 0.10, which suggests that the stock may not be significantly undervalued despite its recent performance.
In comparison with peers, Aurinia's P/E ratio of 20.87 is higher than that of Rhythm Pharmaceuticals, Inc., which has a risky valuation with a P/E of -36.41, indicating a stark contrast in market perception. Additionally, Aurinia's EV to EBITDA ratio is more favorable than that of its peers, reflecting a relatively better valuation position. Notably, over the past year, Aurinia has outperformed the S&P 500, returning 60.86% compared to the index's 14.08%, reinforcing its attractiveness in the market despite a fair valuation.