La Jolla Pharmaceutical (LJPC) Upgraded at Zacks Investment Research

La Jolla Pharmaceutical (NASDAQ:LJPC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “LA JOLLA PHARMACEUTICAL CO. is engaged in the research and development of therapeutic products for the treatment of autoimmune and inflammatory diseases. “

LJPC has been the topic of a number of other research reports. ValuEngine downgraded La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a report on Friday, June 29th. Chardan Capital reiterated a “buy” rating and set a $115.00 price target on shares of La Jolla Pharmaceutical in a report on Monday, June 18th. BidaskClub upgraded La Jolla Pharmaceutical from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. HC Wainwright lowered their price target on La Jolla Pharmaceutical to $53.00 and set a “buy” rating on the stock in a report on Friday, July 27th. Finally, SunTrust Banks set a $45.00 price target on La Jolla Pharmaceutical and gave the company a “buy” rating in a report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. La Jolla Pharmaceutical presently has an average rating of “Hold” and an average target price of $50.00.

NASDAQ:LJPC opened at $22.07 on Tuesday. La Jolla Pharmaceutical has a 52 week low of $19.65 and a 52 week high of $41.36.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($2.02) EPS for the quarter, missing analysts’ consensus estimates of ($1.95) by ($0.07). The company had revenue of $1.59 million during the quarter, compared to analysts’ expectations of $2.48 million. analysts predict that La Jolla Pharmaceutical will post -7.69 EPS for the current year.

A number of hedge funds have recently made changes to their positions in LJPC. SG Americas Securities LLC acquired a new position in La Jolla Pharmaceutical during the first quarter valued at approximately $134,000. Metropolitan Life Insurance Co. NY grew its holdings in La Jolla Pharmaceutical by 42.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 8,699 shares of the biopharmaceutical company’s stock valued at $254,000 after purchasing an additional 2,594 shares during the last quarter. WINTON GROUP Ltd acquired a new position in La Jolla Pharmaceutical during the first quarter valued at approximately $276,000. First Midwest Bank Trust Division acquired a new position in La Jolla Pharmaceutical during the second quarter valued at approximately $279,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of La Jolla Pharmaceutical in the second quarter valued at approximately $284,000.

About La Jolla Pharmaceutical

La Jolla Pharmaceutical Company, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for life-threatening diseases. It offers GIAPREZA, an injection for intravenous infusion indicated to increase blood pressure in adults with septic or other distributive shock.

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