La Jolla Pharmaceutical (LJPC) Receives Average Recommendation of “Buy” from Brokerages

Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) have received an average recommendation of “Buy” from the ten ratings firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $63.33.

A number of analysts recently commented on the company. Jefferies Group reiterated a “buy” rating and set a $40.00 price objective on shares of La Jolla Pharmaceutical in a research report on Tuesday, October 3rd. Cowen reiterated a “buy” rating and set a $55.00 price objective on shares of La Jolla Pharmaceutical in a research report on Friday, December 22nd. BidaskClub upgraded La Jolla Pharmaceutical from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 21st. ValuEngine upgraded La Jolla Pharmaceutical from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 26th. Finally, JPMorgan Chase & Co. cut La Jolla Pharmaceutical from an “overweight” rating to an “underweight” rating and set a $20.00 price objective for the company. in a research report on Friday, December 8th.

Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) traded down $2.34 during trading hours on Friday, hitting $30.08. The stock had a trading volume of 376,831 shares, compared to its average volume of 612,216. The company has a market capitalization of $666.13, a P/E ratio of -5.90 and a beta of 1.63. La Jolla Pharmaceutical has a 1 year low of $16.71 and a 1 year high of $39.28.

La Jolla Pharmaceutical (NASDAQ:LJPC) last announced its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.05. equities analysts expect that La Jolla Pharmaceutical will post -4.91 earnings per share for the current fiscal year.

In related news, COO Jennifer Carver purchased 1,000 shares of La Jolla Pharmaceutical stock in a transaction on Thursday, December 27th. The stock was acquired at an average price of $33.22 per share, for a total transaction of $33,220.00. Following the completion of the transaction, the chief operating officer now directly owns 4,500 shares in the company, valued at approximately $149,490. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Laura L. Douglass sold 10,000 shares of the company’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $32.32, for a total value of $323,200.00. The disclosure for this sale can be found here. 25.47% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Emory University purchased a new stake in La Jolla Pharmaceutical in the second quarter worth about $1,410,000. Cowen Inc. boosted its stake in shares of La Jolla Pharmaceutical by 375.6% in the third quarter. Cowen Inc. now owns 93,700 shares of the biopharmaceutical company’s stock worth $3,259,000 after acquiring an additional 74,000 shares during the period. Candriam Luxembourg S.C.A. bought a new position in shares of La Jolla Pharmaceutical in the third quarter worth about $6,295,000. Vanguard Group Inc. boosted its stake in shares of La Jolla Pharmaceutical by 23.3% in the second quarter. Vanguard Group Inc. now owns 816,779 shares of the biopharmaceutical company’s stock worth $24,316,000 after acquiring an additional 154,494 shares during the period. Finally, Pictet Asset Management Ltd. bought a new position in shares of La Jolla Pharmaceutical in the third quarter worth about $13,266,000.

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La Jolla Pharmaceutical Company Profile

La Jolla Pharmaceutical Company is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapies to improve outcomes in patients suffering from life-threatening diseases. LJPC-501 is its formulation of angiotensin II for the potential treatment of catecholamine-resistant hypotension (CRH).

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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