La Jolla Pharmaceutical (LJPC) Reaches New 1-Year Low at $13.50

La Jolla Pharmaceutical (NASDAQ:LJPC) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $13.50 and last traded at $14.06, with a volume of 6790 shares. The stock had previously closed at $14.14.

Several research analysts have commented on LJPC shares. BidaskClub upgraded shares of La Jolla Pharmaceutical from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 27th. Zacks Investment Research cut shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. ValuEngine upgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating in a report on Saturday, October 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $48.00 price target on shares of La Jolla Pharmaceutical in a report on Thursday, October 25th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. La Jolla Pharmaceutical presently has a consensus rating of “Hold” and a consensus target price of $51.00.

The firm has a market capitalization of $365.96 million, a P/E ratio of -2.55 and a beta of 1.33.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its quarterly earnings data on Wednesday, October 24th. The biopharmaceutical company reported ($1.93) earnings per share for the quarter, topping the consensus estimate of ($2.01) by $0.08. The company had revenue of $3.47 million for the quarter, compared to analysts’ expectations of $3.38 million. As a group, equities research analysts predict that La Jolla Pharmaceutical will post -7.97 earnings per share for the current year.

Several large investors have recently modified their holdings of LJPC. Scopia Capital Management LP lifted its position in shares of La Jolla Pharmaceutical by 346.8% during the 2nd quarter. Scopia Capital Management LP now owns 2,583,170 shares of the biopharmaceutical company’s stock worth $75,351,000 after buying an additional 2,005,025 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of La Jolla Pharmaceutical during the 3rd quarter worth approximately $21,014,000. BlackRock Inc. lifted its position in shares of La Jolla Pharmaceutical by 24.8% during the 2nd quarter. BlackRock Inc. now owns 1,454,127 shares of the biopharmaceutical company’s stock worth $42,417,000 after buying an additional 288,994 shares during the last quarter. FMR LLC lifted its position in shares of La Jolla Pharmaceutical by 7.5% during the 3rd quarter. FMR LLC now owns 3,933,641 shares of the biopharmaceutical company’s stock worth $79,184,000 after buying an additional 275,957 shares during the last quarter. Finally, RTW Investments LP lifted its position in shares of La Jolla Pharmaceutical by 19.9% during the 2nd quarter. RTW Investments LP now owns 1,345,881 shares of the biopharmaceutical company’s stock worth $39,259,000 after buying an additional 223,341 shares during the last quarter.

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About La Jolla Pharmaceutical (NASDAQ:LJPC)

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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