La Jolla Pharmaceutical (LJPC) Shares Gap Up to $28.30

La Jolla Pharmaceutical (NASDAQ:LJPC) gapped up prior to trading on Monday . The stock had previously closed at $26.50, but opened at $28.30. La Jolla Pharmaceutical shares last traded at $31.45, with a volume of 3331500 shares trading hands.

A number of brokerages have weighed in on LJPC. ValuEngine upgraded La Jolla Pharmaceutical from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Cowen reiterated a “buy” rating and issued a $55.00 price objective on shares of La Jolla Pharmaceutical in a research note on Friday, October 27th. Zacks Investment Research upgraded La Jolla Pharmaceutical from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Wednesday, November 1st. Jefferies Group reiterated a “buy” rating and issued a $40.00 price objective on shares of La Jolla Pharmaceutical in a research note on Tuesday, October 3rd. Finally, JPMorgan Chase & Co. reiterated a “sell” rating on shares of La Jolla Pharmaceutical in a research note on Friday, December 22nd. Three investment analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.00.

The stock has a market cap of $732.34, a P/E ratio of -6.43 and a beta of 1.62.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly 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. analysts expect that La Jolla Pharmaceutical will post -4.92 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in La Jolla Pharmaceutical by 11.6% in the second quarter. Legal & General Group Plc now owns 4,456 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 462 shares in the last quarter. Jane Street Group LLC purchased a new position in La Jolla Pharmaceutical in the third quarter worth $200,000. Trexquant Investment LP purchased a new position in La Jolla Pharmaceutical in the third quarter worth $217,000. Voya Investment Management LLC purchased a new position in La Jolla Pharmaceutical in the second quarter worth $243,000. Finally, Nationwide Fund Advisors raised its position in La Jolla Pharmaceutical by 20.4% in the second quarter. Nationwide Fund Advisors now owns 9,952 shares of the biopharmaceutical company’s stock worth $296,000 after acquiring an additional 1,688 shares in the last quarter.

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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).

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