La Jolla Pharmaceutical Target of Unusually High Options Trading (LJPC)
La Jolla Pharmaceutical (NASDAQ:LJPC) was the target of unusually large options trading on Monday. Traders purchased 2,383 put options on the stock. This represents an increase of 936% compared to the typical daily volume of 230 put options.
A number of institutional investors have recently modified their holdings of LJPC. Janus Henderson Group PLC acquired a new stake in La Jolla Pharmaceutical during the 2nd quarter worth $25,191,000. State Street Corp raised its stake in La Jolla Pharmaceutical by 235.1% during the 2nd quarter. State Street Corp now owns 1,180,368 shares of the biopharmaceutical company’s stock worth $35,140,000 after buying an additional 828,081 shares during the period. Sectoral Asset Management Inc raised its stake in La Jolla Pharmaceutical by 649.6% during the 2nd quarter. Sectoral Asset Management Inc now owns 589,959 shares of the biopharmaceutical company’s stock worth $17,563,000 after buying an additional 511,259 shares during the period. Oak Ridge Investments LLC acquired a new stake in La Jolla Pharmaceutical during the 3rd quarter worth $14,642,000. Finally, Pictet Asset Management Ltd. acquired a new stake in La Jolla Pharmaceutical during the 3rd quarter worth $13,266,000.
Several research firms have recently issued reports on LJPC. J P Morgan Chase & Co lowered La Jolla Pharmaceutical from an “overweight” rating to an “underweight” rating and set a $20.00 price target on the stock. in a research report on Friday, December 8th. ValuEngine lowered La Jolla Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded La Jolla Pharmaceutical from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Wednesday, November 1st. Cowen restated a “buy” rating and issued a $55.00 price target on shares of La Jolla Pharmaceutical in a research report on Friday, October 27th. Finally, Jefferies Group restated a “buy” rating and issued a $40.00 price target on shares of La Jolla Pharmaceutical in a research report on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. La Jolla Pharmaceutical has a consensus rating of “Hold” and an average price target of $49.33.
Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) opened at $26.59 on Thursday. La Jolla Pharmaceutical has a 12 month low of $16.41 and a 12 month high of $39.28.
La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($1.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.24) by $0.05. sell-side analysts anticipate that La Jolla Pharmaceutical will post -4.93 EPS for the current year.
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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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