La Jolla Pharmaceutical (LJPC) Receives $35.20 Average Target Price from Brokerages

Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) have received an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $35.20.

LJPC has been the topic of several recent research reports. HC Wainwright decreased their price target on shares of La Jolla Pharmaceutical to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, January 9th. JPMorgan Chase & Co. raised shares of La Jolla Pharmaceutical from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $9.00 in a research note on Wednesday, January 23rd. ValuEngine cut shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Jefferies Financial Group raised shares of La Jolla Pharmaceutical from an “underperform” rating to a “hold” rating and reduced their price objective for the stock from $13.00 to $6.00 in a research note on Monday, January 14th. Finally, BidaskClub raised shares of La Jolla Pharmaceutical from a “strong sell” rating to a “sell” rating in a research note on Monday, January 7th.

LJPC traded up $0.18 during trading on Thursday, hitting $7.63. The company’s stock had a trading volume of 270,284 shares, compared to its average volume of 370,549. La Jolla Pharmaceutical has a one year low of $5.01 and a one year high of $38.39. The company has a market capitalization of $206.59 million, a PE ratio of -0.97 and a beta of 1.32.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings results on Monday, March 4th. The biopharmaceutical company reported ($1.73) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.74) by $0.01. La Jolla Pharmaceutical had a negative net margin of 1,983.58% and a negative return on equity of 223.23%. The business had revenue of $4.18 million for the quarter, compared to the consensus estimate of $4.20 million. As a group, research analysts expect that La Jolla Pharmaceutical will post -3.99 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Credit Suisse AG grew its stake in La Jolla Pharmaceutical by 155.4% during the third quarter. Credit Suisse AG now owns 43,546 shares of the biopharmaceutical company’s stock valued at $877,000 after acquiring an additional 26,499 shares in the last quarter. Virtus ETF Advisers LLC grew its stake in La Jolla Pharmaceutical by 56.0% during the fourth quarter. Virtus ETF Advisers LLC now owns 23,806 shares of the biopharmaceutical company’s stock valued at $224,000 after acquiring an additional 8,545 shares in the last quarter. Emory University grew its stake in La Jolla Pharmaceutical by 26.8% during the fourth quarter. Emory University now owns 149,013 shares of the biopharmaceutical company’s stock valued at $1,405,000 after acquiring an additional 31,537 shares in the last quarter. GSA Capital Partners LLP purchased a new position in La Jolla Pharmaceutical during the fourth quarter valued at $361,000. Finally, JPMorgan Chase & Co. grew its stake in La Jolla Pharmaceutical by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 138,417 shares of the biopharmaceutical company’s stock valued at $2,786,000 after acquiring an additional 8,388 shares in the last quarter.

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), an injection for intravenous infusion indicated to increase blood pressure in adults with septic or other distributive shock.

Recommended Story: Trading Options- What is a Strangle?

Analyst Recommendations 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.