Brokerages Set La Jolla Pharmaceutical (NASDAQ:LJPC) Price Target at $16.40

Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) have been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $15.50.

A number of brokerages recently issued reports on LJPC. HC Wainwright upped their price target on shares of La Jolla Pharmaceutical from $25.00 to $27.00 and gave the stock a “positive” rating in a research note on Thursday, June 6th. Chardan Capital set a $20.00 price target on shares of La Jolla Pharmaceutical and gave the stock a “buy” rating in a research note on Monday, June 24th. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st.

Shares of LJPC stock traded up $0.24 during mid-day trading on Tuesday, reaching $9.58. 260,734 shares of the company’s stock traded hands, compared to its average volume of 575,202. La Jolla Pharmaceutical has a 12 month low of $5.01 and a 12 month high of $38.39. The firm has a market cap of $259.61 million, a P/E ratio of -1.22 and a beta of 2.20. The firm’s 50-day simple moving average is $8.60.

La Jolla Pharmaceutical (NASDAQ:LJPC) last announced 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. The firm had revenue of $4.40 million for the quarter, compared to analysts’ expectations of $4.98 million. La Jolla Pharmaceutical had a negative net margin of 1,324.04% and a negative return on equity of 337.55%. Equities research analysts predict that La Jolla Pharmaceutical will post -4.51 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the business. FMR LLC increased its holdings in La Jolla Pharmaceutical by 3.3% in the 1st quarter. FMR LLC now owns 4,061,425 shares of the biopharmaceutical company’s stock worth $26,115,000 after acquiring an additional 128,074 shares in the last quarter. BlackRock Inc. increased its holdings in La Jolla Pharmaceutical by 1.3% in the 4th quarter. BlackRock Inc. now owns 1,498,561 shares of the biopharmaceutical company’s stock worth $14,132,000 after acquiring an additional 18,557 shares in the last quarter. Millennium Management LLC purchased a new stake in La Jolla Pharmaceutical in the 4th quarter worth approximately $4,623,000. Fosun International Ltd increased its holdings in La Jolla Pharmaceutical by 34.9% in the 1st quarter. Fosun International Ltd now owns 416,260 shares of the biopharmaceutical company’s stock worth $2,743,000 after acquiring an additional 107,610 shares in the last quarter. Finally, Spark Investment Management LLC increased its holdings in La Jolla Pharmaceutical by 213.0% in the 1st quarter. Spark Investment Management LLC now owns 384,917 shares of the biopharmaceutical company’s stock worth $2,475,000 after acquiring an additional 261,922 shares in the last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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