SunTrust Banks Reaffirms Buy Rating for La Jolla Pharmaceutical (LJPC)

SunTrust Banks restated their buy rating on shares of La Jolla Pharmaceutical (NASDAQ:LJPC) in a research report sent to investors on Friday, MarketBeat.com reports. They currently have a $65.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $67.00.

Other research analysts have also recently issued reports about the company. Cowen reaffirmed a buy rating and set a $55.00 price objective on shares of La Jolla Pharmaceutical in a research report on Friday, October 27th. Zacks Investment Research raised La Jolla Pharmaceutical from a hold rating to a buy rating and set a $39.00 price objective for the company in a research report on Wednesday, November 1st. Jefferies Group reaffirmed a buy rating and set a $40.00 price objective on shares of La Jolla Pharmaceutical in a research report on Tuesday, October 3rd. HC Wainwright began coverage on La Jolla Pharmaceutical in a research report on Thursday. They set a buy rating and a $62.00 price objective for the company. Finally, BidaskClub raised La Jolla Pharmaceutical from a strong sell rating to a sell rating in a research report on Thursday. Three analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $52.29.

La Jolla Pharmaceutical (NASDAQ:LJPC) opened at $31.45 on Friday. La Jolla Pharmaceutical has a one year low of $16.41 and a one year high of $39.28. The company has a market capitalization of $773.99, a price-to-earnings ratio of -6.17 and a beta of 1.62.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.24) by $0.05. research analysts anticipate that La Jolla Pharmaceutical will post -4.92 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc boosted its position in shares of La Jolla Pharmaceutical by 11.6% in the 2nd quarter. Legal & General Group Plc now owns 4,456 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 462 shares during the period. Nationwide Fund Advisors boosted its position in shares of La Jolla Pharmaceutical by 20.4% in the 2nd quarter. Nationwide Fund Advisors now owns 9,952 shares of the biopharmaceutical company’s stock valued at $296,000 after purchasing an additional 1,688 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of La Jolla Pharmaceutical by 19.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,397 shares of the biopharmaceutical company’s stock valued at $399,000 after purchasing an additional 2,162 shares during the period. Wells Fargo & Company MN boosted its position in shares of La Jolla Pharmaceutical by 23.0% in the 2nd quarter. Wells Fargo & Company MN now owns 16,937 shares of the biopharmaceutical company’s stock valued at $504,000 after purchasing an additional 3,167 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of La Jolla Pharmaceutical by 21.2% in the 2nd quarter. New York State Common Retirement Fund now owns 18,300 shares of the biopharmaceutical company’s stock valued at $545,000 after purchasing an additional 3,199 shares during the period.

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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).

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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