JPMorgan Chase & Co. Reaffirms “Sell” Rating for La Jolla Pharmaceutical (LJPC)

JPMorgan Chase & Co. reissued their sell rating on shares of La Jolla Pharmaceutical (NASDAQ:LJPC) in a research note issued to investors on Friday morning.

LJPC has been the topic of a number of other reports. SunTrust Banks reiterated a buy rating and set a $65.00 price target (down from $67.00) on shares of La Jolla Pharmaceutical in a report on Friday. Zacks Investment Research upgraded La Jolla Pharmaceutical from a hold rating to a buy rating and set a $39.00 price target on the stock in a report on Wednesday, November 1st. BidaskClub lowered La Jolla Pharmaceutical from a sell rating to a strong sell rating in a report on Friday, December 15th. HC Wainwright initiated coverage on La Jolla Pharmaceutical in a report on Thursday. They set a buy rating and a $62.00 price target on the stock. Finally, Cowen reiterated a buy rating and set a $55.00 price target on shares of La Jolla Pharmaceutical in a report on Friday, October 27th. Three investment analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $52.29.

La Jolla Pharmaceutical (LJPC) opened at $31.45 on Friday. La Jolla Pharmaceutical has a fifty-two week low of $16.41 and a fifty-two week high of $39.28. The firm has a market capitalization of $773.99, a P/E ratio of -6.17 and a beta of 1.62.

La Jolla Pharmaceutical (NASDAQ:LJPC) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.19) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.24) by $0.05. equities analysts forecast that La Jolla Pharmaceutical will post -4.92 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new stake in shares of La Jolla Pharmaceutical in the third quarter valued at $309,000. Jane Street Group LLC bought a new stake in shares of La Jolla Pharmaceutical in the third quarter valued at $200,000. Sectoral Asset Management Inc raised its stake in shares of La Jolla Pharmaceutical by 2.0% in the third quarter. Sectoral Asset Management Inc now owns 601,500 shares of the biopharmaceutical company’s stock valued at $20,920,000 after buying an additional 11,541 shares during the period. Cowen Inc. raised its stake in shares of La Jolla Pharmaceutical by 375.6% in the third quarter. Cowen Inc. now owns 93,700 shares of the biopharmaceutical company’s stock valued at $3,259,000 after buying an additional 74,000 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of La Jolla Pharmaceutical by 130.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 64,659 shares of the biopharmaceutical company’s stock valued at $2,249,000 after buying an additional 36,580 shares during the period.

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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).

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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