La Jolla Pharmaceutical Company (NASDAQ:LJPC) Given Average Rating of “Buy” by Brokerages

La Jolla Pharmaceutical Company (NASDAQ:LJPC) has earned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $55.40.

A number of brokerages have recently weighed in on LJPC. BidaskClub raised La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Wednesday. Chardan Capital reaffirmed a “buy” rating and issued a $85.00 price objective on shares of La Jolla Pharmaceutical in a research note on Tuesday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of La Jolla Pharmaceutical in a research note on Tuesday, July 25th. Zacks Investment Research cut La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and set a $57.00 target price on shares of La Jolla Pharmaceutical in a research note on Monday, May 22nd.

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A number of institutional investors have recently modified their holdings of LJPC. FMR LLC boosted its position in La Jolla Pharmaceutical by 0.6% in the second quarter. FMR LLC now owns 3,313,318 shares of the biopharmaceutical company’s stock valued at $98,637,000 after buying an additional 18,883 shares during the last quarter. Vanguard Group Inc. boosted its position in La Jolla Pharmaceutical by 23.3% in the second quarter. Vanguard Group Inc. now owns 816,779 shares of the biopharmaceutical company’s stock valued at $24,316,000 after buying an additional 154,494 shares during the last quarter. Northern Trust Corp boosted its position in La Jolla Pharmaceutical by 26.4% in the second quarter. Northern Trust Corp now owns 256,640 shares of the biopharmaceutical company’s stock valued at $7,641,000 after buying an additional 53,678 shares during the last quarter. Citigroup Inc. boosted its stake in La Jolla Pharmaceutical by 1,827.3% in the second quarter. Citigroup Inc. now owns 44,077 shares of the biopharmaceutical company’s stock worth $1,313,000 after buying an additional 41,790 shares in the last quarter. Finally, Quantitative Investment Management LLC purchased a new stake in La Jolla Pharmaceutical during the second quarter worth $3,625,000.

La Jolla Pharmaceutical (NASDAQ LJPC) traded up 1.39% on Friday, reaching $30.57. The company had a trading volume of 141,077 shares. The stock’s 50 day moving average is $31.59 and its 200-day moving average is $28.78. The stock’s market capitalization is $676.30 million. La Jolla Pharmaceutical has a 1-year low of $14.63 and a 1-year high of $39.28.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($1.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.12) by $0.09. La Jolla Pharmaceutical had a negative net margin of 12,692.37% and a negative return on equity of 91.66%. During the same period last year, the firm earned ($0.90) earnings per share. On average, equities analysts predict that La Jolla Pharmaceutical will post ($4.96) EPS for the current fiscal year.

About La Jolla Pharmaceutical

La Jolla Pharmaceutical Company is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapies to improve outcomes in patients suffering from life-threatening diseases. LJPC-501 is its formulation of angiotensin II for the potential treatment of catecholamine-resistant hypotension (CRH).

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