Zacks Investment Research Upgrades La Jolla Pharmaceutical Company (LJPC) to Buy

La Jolla Pharmaceutical Company (NASDAQ:LJPC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $39.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price points to a potential upside of 13.67% from the company’s previous close.

According to Zacks, “LA JOLLA PHARMACEUTICAL CO. is engaged in the research and development of therapeutic products for the treatment of autoimmune and inflammatory diseases. “

Several other equities analysts also recently issued reports on LJPC. BidaskClub upgraded shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Chardan Capital restated a “buy” rating and issued a $85.00 price objective on shares of La Jolla Pharmaceutical in a research note on Tuesday, August 8th. Cowen and Company restated a “buy” rating and issued a $55.00 price objective on shares of La Jolla Pharmaceutical in a research note on Friday, October 27th. Jefferies Group LLC restated a “buy” rating and issued a $40.00 price objective on shares of La Jolla Pharmaceutical in a research note on Tuesday, July 25th. Finally, J P Morgan Chase & Co assumed coverage on shares of La Jolla Pharmaceutical in a research note on Wednesday, August 30th. They issued an “overweight” rating and a $36.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. La Jolla Pharmaceutical has an average rating of “Buy” and a consensus price target of $52.00.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($1.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.24) by $0.05.

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Large investors have recently made changes to their positions in the company. Emory University purchased a new stake in shares of La Jolla Pharmaceutical in the second quarter valued at about $1,410,000. Sphera Funds Management LTD. raised its holdings in shares of La Jolla Pharmaceutical by 13.6% in the second quarter. Sphera Funds Management LTD. now owns 125,000 shares of the biopharmaceutical company’s stock valued at $3,721,000 after buying an additional 15,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of La Jolla Pharmaceutical by 26.4% in the first quarter. Vanguard Group Inc. now owns 662,285 shares of the biopharmaceutical company’s stock valued at $19,769,000 after buying an additional 138,155 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of La Jolla Pharmaceutical by 16.1% in the second quarter. Jennison Associates LLC now owns 2,053,467 shares of the biopharmaceutical company’s stock valued at $61,132,000 after buying an additional 285,254 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of La Jolla Pharmaceutical by 8.8% in the second quarter. Bank of New York Mellon Corp now owns 82,847 shares of the biopharmaceutical company’s stock valued at $2,466,000 after buying an additional 6,667 shares during the last quarter.

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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