Chardan Capital reiterated their buy rating on shares of La Jolla Pharmaceutical (NASDAQ:LJPC) in a report issued on Monday morning. They currently have a $115.00 price objective on the biopharmaceutical company’s stock.
“We note that Protagonist Therapeutics (unrated) has also presented data on its hepcidin mimetic, PTG-300, a potential competitor of LJPC-401. Protagonist’s EHA abstract indicated that PTG-300 in healthy volunteers leads to longer suppression of iron levels when compared to LJPC-401. We note that LJPC-401 is naturally-occurring while PTG-300 is a mimetic to the natural peptide (see S-1), which could potentially lead to antibodies against the unnatural PTG-300. La Jolla reported analysis of samples from its clinical trials has not shown antibodies to LJPC-401. The data shown Please refer to important disclosure information and Regulation Analyst Certification found on pages 14 – 16 of this report.by Protagonist seem to also indicate a potential plateauing effect at the 20 mg dose, akin to what was seen in the La Jolla study.”,” Chardan Capital’s analyst commented.
Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded La Jolla Pharmaceutical from a hold rating to a sell rating in a research note on Thursday, May 17th. BidaskClub upgraded La Jolla Pharmaceutical from a sell rating to a hold rating in a research note on Tuesday, March 13th. HC Wainwright reiterated a buy rating and set a $83.00 price objective (up from $72.00) on shares of La Jolla Pharmaceutical in a research note on Friday, May 11th. Finally, ValuEngine upgraded La Jolla Pharmaceutical from a hold rating to a buy rating in a research note on Thursday, May 24th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. La Jolla Pharmaceutical presently has an average rating of Hold and a consensus price target of $58.00.
La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings results on Thursday, May 10th. The biopharmaceutical company reported ($2.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.48) by ($0.74). The business had revenue of $0.81 million during the quarter. equities research analysts anticipate that La Jolla Pharmaceutical will post -6.82 earnings per share for the current year.
Several large investors have recently made changes to their positions in the stock. WINTON GROUP Ltd bought a new position in shares of La Jolla Pharmaceutical during the 1st quarter valued at approximately $276,000. Tang Capital Management LLC lifted its holdings in La Jolla Pharmaceutical by 20.3% in the 1st quarter. Tang Capital Management LLC now owns 4,138,893 shares of the biopharmaceutical company’s stock worth $123,256,000 after purchasing an additional 698,474 shares in the last quarter. Cowen Inc. purchased a new position in La Jolla Pharmaceutical in the 1st quarter worth approximately $1,193,000. Highland Capital Management LP purchased a new position in La Jolla Pharmaceutical in the 1st quarter worth approximately $759,000. Finally, Scopia Capital Management LP purchased a new position in La Jolla Pharmaceutical in the 1st quarter worth approximately $17,217,000.
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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