Why Aurinia Pharmaceuticals Stock Bolted Higher Today

Shares of the autoimmune disease specialist Aurinia Pharmaceuticals (NASDAQ: AUPH) are up by a noteworthy 15.5% as of 1:10 p.m. ET Thursday afternoon. The drugmaker's stock is perking up today in response to renewed buyout speculation.

Rumors began to swirl about a possible buyout this morning after Novartis (NYSE: NVS) reportedly said during its research and development day that it will focus on smaller bolt-on acquisitions, instead of megadeals. Earlier this year, Novartis banked a $21 billion windfall by selling its stake in Roche. 

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Source Fool.com