La Jolla Pharmaceutical (LJPC) Expected to Announce Earnings of -$1.82 Per Share

Brokerages expect that La Jolla Pharmaceutical (NASDAQ:LJPC) will report earnings per share (EPS) of ($1.82) for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for La Jolla Pharmaceutical’s earnings. The lowest EPS estimate is ($1.97) and the highest is ($1.54). La Jolla Pharmaceutical posted earnings per share of ($1.74) during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.6%. The firm is expected to announce its next earnings results on Thursday, February 28th.

On average, analysts expect that La Jolla Pharmaceutical will report full-year earnings of ($7.97) per share for the current financial year, with EPS estimates ranging from ($8.11) to ($7.70). For the next fiscal year, analysts expect that the business will post earnings of ($4.50) per share, with EPS estimates ranging from ($6.03) to ($1.51). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that cover La Jolla Pharmaceutical.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its earnings results on Wednesday, October 24th. The biopharmaceutical company reported ($1.93) EPS for the quarter, topping analysts’ consensus estimates of ($2.01) by $0.08. The business had revenue of $3.47 million for the quarter, compared to analyst estimates of $3.38 million.

A number of analysts have commented on the stock. BidaskClub raised shares of La Jolla Pharmaceutical from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 27th. ValuEngine raised shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating in a report on Friday, November 2nd. HC Wainwright reaffirmed a “buy” rating and set a $48.00 target price on shares of La Jolla Pharmaceutical in a report on Thursday, October 25th. Finally, Zacks Investment Research raised shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. La Jolla Pharmaceutical has a consensus rating of “Hold” and a consensus price target of $51.00.

LJPC traded down $1.09 during trading on Tuesday, reaching $14.14. 438,386 shares of the company’s stock were exchanged, compared to its average volume of 464,023. La Jolla Pharmaceutical has a fifty-two week low of $13.89 and a fifty-two week high of $41.36. The firm has a market capitalization of $379.60 million, a PE ratio of -2.61 and a beta of 1.34.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LJPC. Metropolitan Life Insurance Co. NY boosted its position in shares of La Jolla Pharmaceutical by 42.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 8,699 shares of the biopharmaceutical company’s stock worth $254,000 after purchasing an additional 2,594 shares in the last quarter. First Midwest Bank Trust Division bought a new position in shares of La Jolla Pharmaceutical during the second quarter worth $279,000. MetLife Investment Advisors LLC boosted its position in shares of La Jolla Pharmaceutical by 42.8% during the second quarter. MetLife Investment Advisors LLC now owns 12,259 shares of the biopharmaceutical company’s stock worth $358,000 after purchasing an additional 3,674 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of La Jolla Pharmaceutical by 27.2% during the second quarter. State Board of Administration of Florida Retirement System now owns 14,575 shares of the biopharmaceutical company’s stock worth $425,000 after purchasing an additional 3,120 shares in the last quarter. Finally, Employees Retirement System of Texas bought a new position in shares of La Jolla Pharmaceutical during the second quarter worth $525,000.

La Jolla Pharmaceutical Company Profile

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.

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