ValuEngine Lowers La Jolla Pharmaceutical (NASDAQ:LJPC) to Strong Sell

ValuEngine downgraded shares of La Jolla Pharmaceutical (NASDAQ:LJPC) from a sell rating to a strong sell rating in a research report report published on Tuesday morning, ValuEngine reports.

Other research analysts have also recently issued reports about the stock. SunTrust Banks cut shares of La Jolla Pharmaceutical from a buy rating to a hold rating in a report on Monday, November 25th. HC Wainwright cut shares of La Jolla Pharmaceutical from a buy rating to a neutral rating in a report on Tuesday, November 26th. Finally, Zacks Investment Research cut shares of La Jolla Pharmaceutical from a buy rating to a hold rating in a report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $15.83.

Shares of NASDAQ LJPC traded down $0.17 during midday trading on Tuesday, hitting $8.40. The stock had a trading volume of 651,049 shares, compared to its average volume of 1,405,239. The business’s 50 day moving average is $6.48 and its 200-day moving average is $7.28. La Jolla Pharmaceutical has a 52 week low of $2.30 and a 52 week high of $13.90. The company has a market cap of $235.45 million, a P/E ratio of -1.65 and a beta of 2.08.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($0.03). La Jolla Pharmaceutical had a negative net margin of 683.88% and a negative return on equity of 715.11%. The company had revenue of $5.71 million for the quarter, compared to analysts’ expectations of $6.96 million. Sell-side analysts expect that La Jolla Pharmaceutical will post -4.39 earnings per share for the current fiscal year.

In other La Jolla Pharmaceutical news, Director Kevin C. Tang bought 75,003 shares of La Jolla Pharmaceutical stock in a transaction on Monday, February 3rd. The stock was acquired at an average cost of $6.80 per share, with a total value of $510,020.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin C. Tang bought 1,000,000 shares of La Jolla Pharmaceutical stock in a transaction on Thursday, January 9th. The shares were acquired at an average cost of $4.99 per share, with a total value of $4,990,000.00. The disclosure for this purchase can be found here. Insiders have bought 4,131,160 shares of company stock valued at $26,873,996 over the last three months. 29.47% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. State Street Corp increased its holdings in La Jolla Pharmaceutical by 2.9% during the third quarter. State Street Corp now owns 427,553 shares of the biopharmaceutical company’s stock valued at $3,762,000 after buying an additional 11,890 shares during the last quarter. SG Americas Securities LLC increased its holdings in La Jolla Pharmaceutical by 394.8% during the third quarter. SG Americas Securities LLC now owns 375,986 shares of the biopharmaceutical company’s stock valued at $3,309,000 after buying an additional 299,995 shares during the last quarter. Morgan Stanley increased its holdings in La Jolla Pharmaceutical by 0.7% during the second quarter. Morgan Stanley now owns 420,862 shares of the biopharmaceutical company’s stock valued at $3,893,000 after buying an additional 2,780 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in La Jolla Pharmaceutical during the fourth quarter valued at approximately $1,120,000. Finally, Parametric Portfolio Associates LLC increased its holdings in La Jolla Pharmaceutical by 25.5% during the second quarter. Parametric Portfolio Associates LLC now owns 13,236 shares of the biopharmaceutical company’s stock valued at $122,000 after buying an additional 2,693 shares during the last quarter. 90.80% 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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