La Jolla Pharmaceutical (LJPC) Stock Rating Upgraded by Zacks Investment Research

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

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. “

Other equities research analysts have also issued research reports about the company. HC Wainwright restated a “buy” rating and set a $53.00 target price on shares of La Jolla Pharmaceutical in a research report on Friday. Jefferies Financial Group cut their target price on La Jolla Pharmaceutical from $23.00 to $22.00 and set an “underperform” rating on the stock in a research report on Thursday, August 9th. JPMorgan Chase & Co. cut their target price on La Jolla Pharmaceutical from $24.00 to $21.00 and set an “underweight” rating on the stock in a research report on Friday, August 10th. SunTrust Banks set a $45.00 target price on La Jolla Pharmaceutical and gave the company a “buy” rating in a research report on Thursday, August 9th. Finally, ValuEngine upgraded La Jolla Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, May 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $50.00.

Shares of LJPC stock opened at $22.34 on Friday. The stock has a market capitalization of $607.66 million, a PE ratio of -4.13 and a beta of 1.67. La Jolla Pharmaceutical has a 1-year low of $20.25 and a 1-year high of $41.36.

La Jolla Pharmaceutical (NASDAQ:LJPC) last announced its earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($2.02) EPS for the quarter, missing the consensus estimate of ($1.95) by ($0.07). The company had revenue of $1.59 million during the quarter, compared to the consensus estimate of $2.48 million. sell-side analysts expect that La Jolla Pharmaceutical will post -7.69 EPS for the current year.

Several institutional investors have recently made changes to their positions in LJPC. Tang Capital Management LLC boosted its holdings in La Jolla Pharmaceutical by 20.3% in the first quarter. Tang Capital Management LLC now owns 4,138,893 shares of the biopharmaceutical company’s stock worth $123,256,000 after acquiring an additional 698,474 shares in the last quarter. FMR LLC boosted its holdings in La Jolla Pharmaceutical by 1.5% in the second quarter. FMR LLC now owns 3,657,684 shares of the biopharmaceutical company’s stock worth $106,694,000 after acquiring an additional 54,986 shares in the last quarter. Jennison Associates LLC boosted its holdings in La Jolla Pharmaceutical by 1.6% in the second quarter. Jennison Associates LLC now owns 3,188,533 shares of the biopharmaceutical company’s stock worth $93,010,000 after acquiring an additional 51,471 shares in the last quarter. Scopia Capital Management LP boosted its holdings in La Jolla Pharmaceutical by 346.8% in the second quarter. Scopia Capital Management LP now owns 2,583,170 shares of the biopharmaceutical company’s stock worth $75,351,000 after acquiring an additional 2,005,025 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in La Jolla Pharmaceutical by 24.8% in the second quarter. BlackRock Inc. now owns 1,454,127 shares of the biopharmaceutical company’s stock worth $42,417,000 after acquiring an additional 288,994 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. 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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