La Jolla Pharmaceutical (NASDAQ:LJPC) Trading Up 19.6%

La Jolla Pharmaceutical (NASDAQ:LJPC)’s share price was up 19.6% during trading on Wednesday . The stock traded as high as $3.39 and last traded at $3.35, approximately 2,930,655 shares were traded during mid-day trading. An increase of 241% from the average daily volume of 858,840 shares. The stock had previously closed at $2.80.

Several equities research analysts recently commented on LJPC shares. Chardan Capital reiterated a “buy” rating on shares of La Jolla Pharmaceutical in a research report on Thursday, August 15th. BidaskClub lowered shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Friday, September 27th. HC Wainwright lowered shares of La Jolla Pharmaceutical from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 26th. SunTrust Banks lowered shares of La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, Zacks Investment Research lowered shares of La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $14.17.

The company has a market capitalization of $74.41 million, a PE ratio of -0.43 and a beta of 1.84. The stock’s fifty day simple moving average is $6.24 and its 200-day simple moving average is $8.25.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($1.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.05) by ($0.03). The firm had revenue of $5.71 million during the quarter, compared to analysts’ expectations of $6.96 million. La Jolla Pharmaceutical had a negative net margin of 683.88% and a negative return on equity of 715.11%. Research analysts expect that La Jolla Pharmaceutical will post -4.43 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in LJPC. Bank of Montreal Can lifted its holdings in La Jolla Pharmaceutical by 27.2% in the 2nd quarter. Bank of Montreal Can now owns 7,043 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 1,506 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in La Jolla Pharmaceutical by 25.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,236 shares of the biopharmaceutical company’s stock valued at $122,000 after purchasing an additional 2,693 shares in the last quarter. Trexquant Investment LP lifted its holdings in La Jolla Pharmaceutical by 97.1% in the 2nd quarter. Trexquant Investment LP now owns 22,482 shares of the biopharmaceutical company’s stock valued at $208,000 after purchasing an additional 11,074 shares in the last quarter. Trellus Management Company LLC lifted its holdings in La Jolla Pharmaceutical by 127.1% in the 3rd quarter. Trellus Management Company LLC now owns 26,845 shares of the biopharmaceutical company’s stock valued at $236,000 after purchasing an additional 15,024 shares in the last quarter. Finally, Virtus ETF Advisers LLC purchased a new position in La Jolla Pharmaceutical in the 2nd quarter valued at about $254,000. Institutional investors own 91.62% of the company’s stock.

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. 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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