Alliancebernstein L.P. continued to hold its position in shares of La Jolla Pharmaceutical Company (NASDAQ:LJPC) during the first quarter, Holdings Channel reports. The firm owned 12,700 shares of the biopharmaceutical company’s stock at the end of the first quarter. Alliancebernstein L.P.’s holdings in La Jolla Pharmaceutical were worth $379,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Sphera Funds Management LTD. boosted its position in shares of La Jolla Pharmaceutical by 117.1% in the first quarter. Sphera Funds Management LTD. now owns 110,000 shares of the biopharmaceutical company’s stock worth $3,284,000 after buying an additional 59,323 shares during the last quarter. American International Group Inc. boosted its position in shares of La Jolla Pharmaceutical by 7.1% in the first quarter. American International Group Inc. now owns 8,571 shares of the biopharmaceutical company’s stock worth $256,000 after buying an additional 568 shares during the last quarter. EAM Investors LLC bought a new position in shares of La Jolla Pharmaceutical during the first quarter worth about $786,000. SG Americas Securities LLC bought a new position in shares of La Jolla Pharmaceutical during the first quarter worth about $195,000. Finally, RidgeWorth Capital Management LLC bought a new position in shares of La Jolla Pharmaceutical during the first quarter worth about $227,000.

La Jolla Pharmaceutical Company (NASDAQ:LJPC) traded up 1.39% on Friday, reaching $30.57. The company’s stock had a trading volume of 141,077 shares. La Jolla Pharmaceutical Company has a 12 month low of $14.63 and a 12 month high of $39.28. The company’s market cap is $676.30 million. The stock’s 50 day moving average price is $31.59 and its 200 day moving average price is $28.78.

La Jolla Pharmaceutical (NASDAQ:LJPC) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($1.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.12) by $0.09. La Jolla Pharmaceutical had a negative net margin of 12,692.37% and a negative return on equity of 91.66%. During the same period last year, the company earned ($0.90) earnings per share. Equities research analysts forecast that La Jolla Pharmaceutical Company will post ($4.96) earnings per share for the current year.

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A number of research firms recently weighed in on LJPC. BidaskClub raised La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a report on Wednesday. Chardan Capital reaffirmed a “buy” rating and set a $85.00 price target on shares of La Jolla Pharmaceutical in a report on Tuesday. Jefferies Group LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of La Jolla Pharmaceutical in a report on Tuesday, July 25th. Zacks Investment Research cut La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, ValuEngine raised La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. La Jolla Pharmaceutical presently has a consensus rating of “Buy” and a consensus target price of $51.67.

About La Jolla Pharmaceutical

La Jolla Pharmaceutical Company is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapies to improve outcomes in patients suffering from life-threatening diseases. LJPC-501 is its formulation of angiotensin II for the potential treatment of catecholamine-resistant hypotension (CRH).

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Institutional Ownership by Quarter for La Jolla Pharmaceutical (NASDAQ:LJPC)

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