Life Sciences Maste Perceptive Sells 2,060,235 Shares of La Jolla Pharmaceutical (LJPC) Stock

La Jolla Pharmaceutical (NASDAQ:LJPC) major shareholder Life Sciences Maste Perceptive sold 2,060,235 shares of La Jolla Pharmaceutical stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $5.69, for a total transaction of $11,722,737.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

NASDAQ LJPC opened at $6.10 on Friday. La Jolla Pharmaceutical has a 12-month low of $5.01 and a 12-month high of $41.36. The firm has a market capitalization of $275.98 million, a price-to-earnings ratio of -1.13 and a beta of 1.72.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings results on Wednesday, October 24th. The biopharmaceutical company reported ($1.93) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.01) by $0.08. The firm had revenue of $3.47 million during the quarter, compared to analysts’ expectations of $3.38 million. As a group, sell-side analysts anticipate that La Jolla Pharmaceutical will post -7.97 EPS for the current fiscal year.

Several equities analysts have issued reports on LJPC shares. BidaskClub lowered shares of La Jolla Pharmaceutical from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 9th. Zacks Investment Research raised shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a report on Thursday, September 27th. ValuEngine lowered shares of La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $48.00 price target on shares of La Jolla Pharmaceutical in a report on Thursday, October 25th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.67.

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its holdings in shares of La Jolla Pharmaceutical by 7.5% during the third quarter. FMR LLC now owns 3,933,641 shares of the biopharmaceutical company’s stock valued at $79,184,000 after buying an additional 275,957 shares during the last quarter. Jennison Associates LLC lifted its position in La Jolla Pharmaceutical by 2.8% during the third quarter. Jennison Associates LLC now owns 3,279,272 shares of the biopharmaceutical company’s stock valued at $66,012,000 after purchasing an additional 90,739 shares during the period. Scopia Capital Management LP lifted its position in La Jolla Pharmaceutical by 0.3% during the third quarter. Scopia Capital Management LP now owns 2,590,212 shares of the biopharmaceutical company’s stock valued at $52,141,000 after purchasing an additional 7,042 shares during the period. BlackRock Inc. lifted its position in La Jolla Pharmaceutical by 1.8% during the third quarter. BlackRock Inc. now owns 1,480,004 shares of the biopharmaceutical company’s stock valued at $29,791,000 after purchasing an additional 25,877 shares during the period. Finally, Pictet Asset Management Ltd. lifted its position in La Jolla Pharmaceutical by 12.9% during the third quarter. Pictet Asset Management Ltd. now owns 1,066,021 shares of the biopharmaceutical company’s stock valued at $21,459,000 after purchasing an additional 121,594 shares during the period.

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About La Jolla Pharmaceutical

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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Insider Buying and Selling by Quarter for La Jolla Pharmaceutical (NASDAQ:LJPC)

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