La Jolla Pharmaceutical (LJPC) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of La Jolla Pharmaceutical (NASDAQ:LJPC) from a hold rating to a buy rating in a report issued on Friday morning.

A number of other brokerages have also recently weighed in on LJPC. SunTrust Banks reiterated a buy rating and issued a $65.00 price target (down from $67.00) on shares of La Jolla Pharmaceutical in a research report on Friday, December 22nd. 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 research report on Wednesday, November 1st. HC Wainwright upped their price target on La Jolla Pharmaceutical from $62.00 to $91.00 and gave the company a buy rating in a research report on Friday, December 29th. Chardan Capital upped their price target on La Jolla Pharmaceutical from $90.00 to $100.00 and gave the company a buy rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. reiterated a sell rating on shares of La Jolla Pharmaceutical in a research report on Friday, December 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $58.57.

Shares of La Jolla Pharmaceutical (NASDAQ LJPC) traded down $0.75 during trading hours on Friday, reaching $36.83. The company’s stock had a trading volume of 427,285 shares, compared to its average volume of 457,898. La Jolla Pharmaceutical has a 52-week low of $16.71 and a 52-week high of $41.36. The company has a market capitalization of $799.33, a PE ratio of -7.22 and a beta of 1.20.

In other La Jolla Pharmaceutical news, COO Jennifer Carver bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The shares were bought at an average price of $33.22 per share, for a total transaction of $33,220.00. Following the completion of the acquisition, the chief operating officer now owns 4,500 shares of the company’s stock, valued at $149,490. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Laura L. Douglass sold 10,000 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $32.32, for a total value of $323,200.00. The disclosure for this sale can be found here. 25.47% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of LJPC. Schwab Charles Investment Management Inc. boosted its holdings in La Jolla Pharmaceutical by 30.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 28,079 shares of the biopharmaceutical company’s stock valued at $836,000 after acquiring an additional 6,500 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in La Jolla Pharmaceutical by 8.8% in the second quarter. Bank of New York Mellon Corp now owns 82,847 shares of the biopharmaceutical company’s stock valued at $2,466,000 after acquiring an additional 6,667 shares during the last quarter. Legal & General Group Plc boosted its holdings 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 valued at $133,000 after acquiring an additional 462 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in La Jolla Pharmaceutical by 23.0% in the second quarter. Wells Fargo & Company MN now owns 16,937 shares of the biopharmaceutical company’s stock valued at $504,000 after acquiring an additional 3,167 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in La Jolla Pharmaceutical by 34.6% in the second quarter. Alliancebernstein L.P. now owns 17,100 shares of the biopharmaceutical company’s stock valued at $509,000 after acquiring an additional 4,400 shares during 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).

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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