La Jolla Pharmaceutical (NASDAQ:LJPC) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of La Jolla Pharmaceutical (NASDAQ:LJPC) from a strong sell rating to a sell rating in a report issued on Saturday morning, BidAskClub reports.

A number of other research analysts have also commented on the company. Zacks Investment Research lowered La Jolla Pharmaceutical from a buy rating to a hold rating in a research note on Thursday, August 8th. ValuEngine upgraded La Jolla Pharmaceutical from a sell rating to a hold rating in a research note on Thursday, August 1st. Chardan Capital set a $20.00 target price on La Jolla Pharmaceutical and gave the company a buy rating in a research note on Monday, June 24th. Finally, HC Wainwright upped their target price on La Jolla Pharmaceutical from $25.00 to $27.00 and gave the company a positive rating in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $15.50.

Shares of LJPC stock opened at $9.96 on Friday. La Jolla Pharmaceutical has a 12 month low of $5.01 and a 12 month high of $24.53. The firm has a market cap of $264.78 million, a PE ratio of -1.27 and a beta of 2.22. The stock has a 50 day moving average of $9.02 and a 200-day moving average of $7.62.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.12) EPS for the quarter, hitting analysts’ consensus estimates of ($1.12). The company had revenue of $5.70 million during the quarter, compared to analyst estimates of $5.76 million. La Jolla Pharmaceutical had a negative return on equity of 715.12% and a negative net margin of 891.53%. On average, equities analysts expect that La Jolla Pharmaceutical will post -4.35 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in La Jolla Pharmaceutical by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 227,484 shares of the biopharmaceutical company’s stock valued at $2,145,000 after acquiring an additional 7,370 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of La Jolla Pharmaceutical by 10.6% during the fourth quarter. Bank of America Corp DE now owns 55,946 shares of the biopharmaceutical company’s stock valued at $527,000 after acquiring an additional 5,353 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in shares of La Jolla Pharmaceutical by 357.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,699 shares of the biopharmaceutical company’s stock valued at $82,000 after acquiring an additional 6,797 shares during the period. Jane Street Group LLC acquired a new position in shares of La Jolla Pharmaceutical during the fourth quarter valued at $134,000. Finally, Deutsche Bank AG boosted its holdings in shares of La Jolla Pharmaceutical by 11.3% during the fourth quarter. Deutsche Bank AG now owns 47,803 shares of the biopharmaceutical company’s stock valued at $450,000 after acquiring an additional 4,859 shares during the period. Institutional investors and hedge funds own 94.13% of the company’s stock.

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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