La Jolla Pharmaceutical (LJPC) Receives $66.40 Average Price Target from Analysts

Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) have been given a consensus recommendation of “Hold” by the nine brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $66.40.

Several analysts have issued reports on the company. BidaskClub upgraded La Jolla Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Jefferies Group lowered La Jolla Pharmaceutical from a “buy” rating to an “underperform” rating and lowered their target price for the company from $40.00 to $29.00 in a research note on Monday, February 12th. ValuEngine upgraded La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research lowered La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Chardan Capital boosted their target price on La Jolla Pharmaceutical from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, January 25th.

Shares of LJPC traded down $0.11 during mid-day trading on Thursday, hitting $33.16. The stock had a trading volume of 270,320 shares, compared to its average volume of 521,449. The firm has a market cap of $842.17 million, a PE ratio of -6.13 and a beta of 1.42. La Jolla Pharmaceutical has a 52 week low of $32.17 and a 52 week high of $32.82.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its earnings results on Thursday, May 10th. The biopharmaceutical company reported ($2.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.48) by ($0.74). The business had revenue of $0.81 million during the quarter. equities analysts forecast that La Jolla Pharmaceutical will post -6.52 EPS for the current year.

In related news, COO Jennifer Carver purchased 1,000 shares of La Jolla Pharmaceutical stock in a transaction dated Friday, February 23rd. The stock was bought at an average cost of $32.48 per share, for a total transaction of $32,480.00. Following the completion of the transaction, the chief operating officer now owns 5,500 shares in the company, valued at $178,640. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin C. Tang purchased 10,000 shares of La Jolla Pharmaceutical stock in a transaction dated Friday, March 2nd. The stock was bought at an average price of $30.44 per share, with a total value of $304,400.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 1,369,474 shares of company stock valued at $40,759,863. 25.47% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in LJPC. SG Americas Securities LLC purchased a new position in shares of La Jolla Pharmaceutical in the first quarter valued at $134,000. Silvant Capital Management LLC purchased a new position in shares of La Jolla Pharmaceutical in the first quarter valued at $189,000. Calton & Associates Inc. purchased a new position in shares of La Jolla Pharmaceutical in the fourth quarter valued at $266,000. MetLife Investment Advisors LLC purchased a new position in shares of La Jolla Pharmaceutical in the fourth quarter valued at $276,000. Finally, LPL Financial LLC purchased a new position in shares of La Jolla Pharmaceutical in the fourth quarter valued at $434,000.

About La Jolla Pharmaceutical

La Jolla Pharmaceutical Company, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for life-threatening diseases. It offers GIAPREZA, an injection for intravenous infusion indicated to increase blood pressure in adults with septic or other distributive shock.

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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