Stock Traders Purchase High Volume of Call Options on La Jolla Pharmaceutical (NASDAQ:LJPC)

La Jolla Pharmaceutical (NASDAQ:LJPC) was the target of some unusual options trading activity on Tuesday. Stock investors purchased 2,426 call options on the company. This represents an increase of approximately 1,621% compared to the typical volume of 141 call options.

A number of institutional investors have recently bought and sold shares of the business. Tang Capital Management LLC lifted its position in shares of La Jolla Pharmaceutical by 8.2% during the 3rd quarter. Tang Capital Management LLC now owns 9,405,490 shares of the biopharmaceutical company’s stock valued at $37,904,000 after acquiring an additional 710,016 shares during the period. Two Sigma Advisers LP bought a new position in shares of La Jolla Pharmaceutical in the second quarter worth approximately $1,598,000. Morgan Stanley grew its holdings in shares of La Jolla Pharmaceutical by 67.1% in the first quarter. Morgan Stanley now owns 638,120 shares of the biopharmaceutical company’s stock worth $2,680,000 after purchasing an additional 256,246 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of La Jolla Pharmaceutical by 106.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 278,154 shares of the biopharmaceutical company’s stock worth $1,185,000 after purchasing an additional 143,700 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of La Jolla Pharmaceutical by 3.3% in the first quarter. FMR LLC now owns 4,061,425 shares of the biopharmaceutical company’s stock worth $26,115,000 after purchasing an additional 128,074 shares during the last quarter. Hedge funds and other institutional investors own 70.97% of the company’s stock.

Several research analysts have issued reports on the stock. Zacks Investment Research lowered shares of La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine upgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating in a report on Friday, December 25th.

NASDAQ LJPC traded up $0.37 during trading hours on Wednesday, reaching $5.41. The company’s stock had a trading volume of 79,826 shares, compared to its average volume of 5,470,159. The business has a 50-day simple moving average of $4.40 and a 200 day simple moving average of $4.20. The stock has a market cap of $148.13 million, a PE ratio of -2.36 and a beta of 2.93. La Jolla Pharmaceutical has a 52 week low of $3.36 and a 52 week high of $9.38.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings results on Saturday, November 14th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.11. The business had revenue of $9.07 million for the quarter. As a group, sell-side analysts forecast that La Jolla Pharmaceutical will post -1.68 EPS for the current fiscal year.

La Jolla Pharmaceutical Company Profile

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), a vasoconstrictor indicated to increase blood pressure in adults with septic or other distributive shock.

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