Wall Street brokerages forecast that La Jolla Pharmaceutical (NASDAQ:LJPC) will announce $5.88 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for La Jolla Pharmaceutical’s earnings, with estimates ranging from $5.49 million to $6.15 million. La Jolla Pharmaceutical posted sales of $1.59 million in the same quarter last year, which suggests a positive year over year growth rate of 269.8%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, August 14th.
On average, analysts expect that La Jolla Pharmaceutical will report full year sales of $24.69 million for the current financial year, with estimates ranging from $23.37 million to $26.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $73.70 million, with estimates ranging from $45.27 million to $94.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow La Jolla Pharmaceutical.
La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its earnings results on Monday, May 6th. The biopharmaceutical company reported ($1.17) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.31) by $0.14. La Jolla Pharmaceutical had a negative return on equity of 337.55% and a negative net margin of 1,324.04%. The company had revenue of $4.40 million during the quarter, compared to the consensus estimate of $4.98 million.
LJPC stock traded down $0.13 during midday trading on Friday, reaching $9.71. The company had a trading volume of 1,068,606 shares, compared to its average volume of 2,849,532. La Jolla Pharmaceutical has a fifty-two week low of $5.01 and a fifty-two week high of $38.39. The company has a market cap of $266.65 million, a P/E ratio of -1.24 and a beta of 1.71.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its holdings in shares of La Jolla Pharmaceutical by 63,657.1% during the first quarter. BNP Paribas Arbitrage SA now owns 4,463 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 4,456 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in shares of La Jolla Pharmaceutical during the first quarter valued at approximately $32,000. Bank of Montreal Can raised its holdings in shares of La Jolla Pharmaceutical by 901.3% during the first quarter. Bank of Montreal Can now owns 5,537 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 4,984 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of La Jolla Pharmaceutical by 357.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,699 shares of the biopharmaceutical company’s stock valued at $82,000 after buying an additional 6,797 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of La Jolla Pharmaceutical during the first quarter valued at approximately $67,000. 93.88% of the stock is currently owned by institutional investors.
About La Jolla Pharmaceutical
La Jolla Pharmaceutical Company, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for life-threatening diseases. The company offers GIAPREZA (angiotensin II), an injection for intravenous infusion indicated to increase blood pressure in adults with septic or other distributive shock.
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