La Jolla Pharmaceutical Company (LJPC) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of La Jolla Pharmaceutical Company (NASDAQ:LJPC) from a sell rating to a hold rating in a report published on Wednesday, August 9th.

Several other research firms have also commented on LJPC. Jefferies Group LLC reissued a buy rating and issued a $40.00 price objective on shares of La Jolla Pharmaceutical in a research note on Tuesday, July 25th. Chardan Capital set a $34.00 target price on shares of La Jolla Pharmaceutical and gave the company a buy rating in a report on Monday, May 22nd. SunTrust Banks, Inc. reaffirmed a buy rating and issued a $57.00 target price on shares of La Jolla Pharmaceutical in a report on Monday, May 22nd. Zacks Investment Research cut shares of La Jolla Pharmaceutical from a buy rating to a hold rating in a report on Tuesday, July 18th. Finally, ValuEngine raised shares of La Jolla Pharmaceutical from a sell rating to a hold rating in a report on Friday, June 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $51.67.

La Jolla Pharmaceutical (NASDAQ LJPC) traded down 1.52% during midday trading on Wednesday, hitting $28.54. 290,848 shares of the stock traded hands. The firm’s market cap is $631.39 million. The company’s 50-day moving average is $31.51 and its 200 day moving average is $29.13. La Jolla Pharmaceutical has a 12-month low of $14.63 and a 12-month high of $39.28.

La Jolla Pharmaceutical (NASDAQ:LJPC) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($1.21) EPS for the quarter, missing the Thomson Reuters’ 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 quarter in the previous year, the business posted ($0.90) earnings per share. On average, analysts anticipate that La Jolla Pharmaceutical will post ($4.96) EPS for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in LJPC. California State Teachers Retirement System boosted its stake in La Jolla Pharmaceutical by 13.1% in the second quarter. California State Teachers Retirement System now owns 30,995 shares of the biopharmaceutical company’s stock worth $923,000 after buying an additional 3,600 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in La Jolla Pharmaceutical by 19.2% in the second quarter. The Manufacturers Life Insurance Company now owns 13,397 shares of the biopharmaceutical company’s stock worth $399,000 after buying an additional 2,162 shares during the last quarter. Redmile Group LLC boosted its stake in La Jolla Pharmaceutical by 18.0% in the second quarter. Redmile Group LLC now owns 713,280 shares of the biopharmaceutical company’s stock worth $21,234,000 after buying an additional 108,810 shares during the last quarter. State Street Corp boosted its stake in La Jolla Pharmaceutical by 235.1% in the second quarter. State Street Corp now owns 1,180,368 shares of the biopharmaceutical company’s stock worth $35,140,000 after buying an additional 828,081 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of La Jolla Pharmaceutical during the second quarter worth about $25,191,000.

La Jolla Pharmaceutical Company Profile

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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