ValuEngine Upgrades La Jolla Pharmaceutical (LJPC) to Sell

La Jolla Pharmaceutical (NASDAQ:LJPC) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Tuesday.

Other equities research analysts have also issued research reports about the company. Cowen reiterated a “buy” rating and issued a $55.00 price target 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 target for the company in a research note on Wednesday, November 1st. Jefferies Group reiterated a “buy” rating and issued a $40.00 price target on shares of La Jolla Pharmaceutical in a research note on Tuesday, October 3rd. JPMorgan Chase & Co. reiterated a “sell” rating on shares of La Jolla Pharmaceutical in a research note on Friday, December 22nd. Finally, SunTrust Banks reiterated a “buy” rating and issued a $65.00 price target (down previously from $67.00) on shares of La Jolla Pharmaceutical in a research note on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. La Jolla Pharmaceutical presently has an average rating of “Buy” and a consensus target price of $53.00.

La Jolla Pharmaceutical (LJPC) opened at $32.47 on Tuesday. La Jolla Pharmaceutical has a twelve month low of $16.41 and a twelve month high of $39.28. The company has a market capitalization of $732.34, a price-to-earnings ratio of -6.37 and a beta of 1.62.

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

Institutional investors have recently modified their holdings of the company. Emory University purchased a new position in shares of La Jolla Pharmaceutical during the second quarter valued at about $1,410,000. Sphera Funds Management LTD. grew its position in shares of La Jolla Pharmaceutical by 13.6% during the second quarter. Sphera Funds Management LTD. now owns 125,000 shares of the biopharmaceutical company’s stock valued at $3,721,000 after purchasing an additional 15,000 shares in the last quarter. Candriam Luxembourg S.C.A. purchased a new position in shares of La Jolla Pharmaceutical during the third quarter valued at about $6,295,000. Cowen Inc. grew its position in shares of La Jolla Pharmaceutical by 375.6% during the third quarter. Cowen Inc. now owns 93,700 shares of the biopharmaceutical company’s stock valued at $3,259,000 after purchasing an additional 74,000 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of La Jolla Pharmaceutical by 23.3% during the second quarter. Vanguard Group Inc. now owns 816,779 shares of the biopharmaceutical company’s stock valued at $24,316,000 after purchasing an additional 154,494 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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