La Jolla Pharmaceutical (NASDAQ:LJPC) Receives Consensus Recommendation of “Hold” from Analysts

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Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) have earned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $35.40.

A number of analysts have weighed in on LJPC shares. HC Wainwright raised their target price on shares of La Jolla Pharmaceutical from $25.00 to $27.00 and gave the company a “positive” rating in a research report on Thursday, June 6th. Cowen restated a “buy” rating on shares of La Jolla Pharmaceutical in a research report on Tuesday, March 5th. Zacks Investment Research upgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research report on Saturday, May 11th. Finally, ValuEngine lowered shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st.

La Jolla Pharmaceutical stock traded up $0.15 during mid-day trading on Friday, reaching $9.99. The company had a trading volume of 57,638 shares, compared to its average volume of 2,822,159. La Jolla Pharmaceutical has a fifty-two week low of $5.01 and a fifty-two week high of $38.39. The firm has a market capitalization of $266.66 million, a P/E ratio of -1.26 and a beta of 1.71.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its earnings results on Monday, May 6th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.31) by $0.14. La Jolla Pharmaceutical had a negative net margin of 1,324.04% and a negative return on equity of 337.55%. The firm had revenue of $4.40 million for the quarter, compared to analyst estimates of $4.98 million. Research analysts expect that La Jolla Pharmaceutical will post -4.43 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its holdings in shares of La Jolla Pharmaceutical by 63,657.1% during the first quarter. BNP Paribas Arbitrage SA now owns 4,463 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 4,456 shares during the period. Deutsche Bank AG lifted its holdings in shares of La Jolla Pharmaceutical by 11.3% during the fourth quarter. Deutsche Bank AG now owns 47,803 shares of the biopharmaceutical company’s stock worth $450,000 after purchasing an additional 4,859 shares during the period. Bank of Montreal Can lifted its holdings in shares of La Jolla Pharmaceutical by 901.3% during the first quarter. Bank of Montreal Can now owns 5,537 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 4,984 shares during the period. Red Cedar Capital LLC lifted its holdings in shares of La Jolla Pharmaceutical by 74.6% during the first quarter. Red Cedar Capital LLC now owns 11,700 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 5,000 shares during the period. Finally, Meridian Wealth Management LLC acquired a new position in shares of La Jolla Pharmaceutical during the first quarter worth $32,000. Institutional investors own 93.88% of the company’s stock.

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.

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Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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