La Jolla Pharmaceutical (LJPC) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of La Jolla Pharmaceutical (NASDAQ:LJPC) from a sell rating to a hold rating in a research report report published on Wednesday morning.

Other equities analysts have also issued reports about the company. Cowen restated a buy rating and set a $55.00 target price on shares of La Jolla Pharmaceutical in a report on Friday, October 27th. ValuEngine upgraded La Jolla Pharmaceutical from a strong sell rating to a sell rating in a research note on Tuesday. Zacks Investment Research raised La Jolla Pharmaceutical from a hold rating to a buy rating and set a $39.00 target price on the stock in a research report on Wednesday, November 1st. Jefferies Group reissued a buy rating and set a $40.00 target price on shares of La Jolla Pharmaceutical in a research report on Tuesday, October 3rd. Finally, JPMorgan Chase & Co. reaffirmed a sell rating on shares of La Jolla Pharmaceutical in a report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $53.00.

La Jolla Pharmaceutical (NASDAQ LJPC) opened at $32.47 on Wednesday. La Jolla Pharmaceutical has a 1-year low of $16.41 and a 1-year high of $39.28. The firm has a market capitalization of $732.34, a PE ratio of -6.37 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 Thomson Reuters’ consensus estimate of ($1.24) by $0.05. equities analysts forecast that La Jolla Pharmaceutical will post -4.92 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc boosted its holdings 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 worth $133,000 after acquiring an additional 462 shares in the last quarter. Nationwide Fund Advisors raised its position in La Jolla Pharmaceutical by 20.4% in the 2nd quarter. Nationwide Fund Advisors now owns 9,952 shares of the biopharmaceutical company’s stock worth $296,000 after purchasing an additional 1,688 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in 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 worth $399,000 after purchasing an additional 2,162 shares during the last quarter. Wells Fargo & Company MN raised its position in 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 worth $504,000 after purchasing an additional 3,167 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in 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 worth $545,000 after purchasing an additional 3,199 shares during the last quarter.

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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).

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