Brokerages Expect La Jolla Pharmaceutical (NASDAQ:LJPC) to Post -$0.59 Earnings Per Share

Analysts expect La Jolla Pharmaceutical (NASDAQ:LJPC) to post ($0.59) earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for La Jolla Pharmaceutical’s earnings, with the highest EPS estimate coming in at ($0.44) and the lowest estimate coming in at ($0.74). La Jolla Pharmaceutical posted earnings per share of ($1.12) during the same quarter last year, which indicates a positive year-over-year growth rate of 47.3%. The business is scheduled to announce its next earnings results on Thursday, August 6th.

On average, analysts expect that La Jolla Pharmaceutical will report full-year earnings of ($2.00) per share for the current financial year, with EPS estimates ranging from ($2.35) to ($1.65). For the next financial year, analysts forecast that the company will post earnings of ($1.64) per share, with EPS estimates ranging from ($2.76) to ($1.02). Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that that provide coverage for La Jolla Pharmaceutical.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings results on Monday, May 4th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.92) by $0.60. The business had revenue of $7.59 million during the quarter, compared to the consensus estimate of $8.50 million.

A number of research analysts recently issued reports on the company. ValuEngine raised La Jolla Pharmaceutical from a “hold” rating to a “buy” rating in a report on Friday, May 1st. Zacks Investment Research raised La Jolla Pharmaceutical from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a report on Wednesday, June 17th. Finally, Ci Capital reaffirmed a “buy” rating and issued a $8.00 price target on shares of La Jolla Pharmaceutical in a report on Wednesday, June 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $11.00.

Shares of La Jolla Pharmaceutical stock traded down $0.11 during trading on Friday, reaching $4.41. The company’s stock had a trading volume of 289,605 shares, compared to its average volume of 726,736. The stock has a 50-day moving average price of $5.64 and a two-hundred day moving average price of $5.99. La Jolla Pharmaceutical has a one year low of $2.30 and a one year high of $11.41. The stock has a market capitalization of $120.39 million, a P/E ratio of -1.28 and a beta of 2.53.

In related news, Director Kevin C. Tang bought 615,129 shares of La Jolla Pharmaceutical stock in a transaction dated Thursday, June 4th. The shares were bought at an average cost of $5.01 per share, with a total value of $3,081,796.29. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kevin C. Tang bought 253,553 shares of La Jolla Pharmaceutical stock in a transaction dated Tuesday, June 2nd. The shares were bought at an average cost of $4.88 per share, for a total transaction of $1,237,338.64. The disclosure for this purchase can be found here. Corporate insiders own 33.39% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. purchased a new position in shares of La Jolla Pharmaceutical in the 4th quarter worth $164,000. Barclays PLC grew its holdings in shares of La Jolla Pharmaceutical by 38.6% during the fourth quarter. Barclays PLC now owns 21,820 shares of the biopharmaceutical company’s stock valued at $85,000 after buying an additional 6,073 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of La Jolla Pharmaceutical by 683.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 202,559 shares of the biopharmaceutical company’s stock valued at $796,000 after buying an additional 176,706 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of La Jolla Pharmaceutical during the fourth quarter valued at $61,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of La Jolla Pharmaceutical during the fourth quarter valued at $2,529,000. 79.25% of the stock is currently owned by institutional investors.

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.

Featured Story: 52- Week Highs

Get a free copy of the Zacks research report on La Jolla Pharmaceutical (LJPC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for La Jolla Pharmaceutical (NASDAQ:LJPC)

Receive News & Ratings for La Jolla Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La Jolla Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.