BidaskClub upgraded shares of La Jolla Pharmaceutical (NASDAQ:LJPC) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

Several other brokerages have also recently issued reports on LJPC. Jefferies Group cut shares of La Jolla Pharmaceutical from a buy rating to an underperform rating and dropped their target price for the stock from $40.00 to $29.00 in a report on Monday, February 12th. ValuEngine upgraded shares of La Jolla Pharmaceutical from a sell rating to a hold rating in a report on Friday, February 2nd. Chardan Capital increased their price target on shares of La Jolla Pharmaceutical from $90.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, January 25th. Zacks Investment Research downgraded shares of La Jolla Pharmaceutical from a hold rating to a sell rating in a research report on Thursday, February 15th. Finally, HC Wainwright increased their price target on shares of La Jolla Pharmaceutical from $62.00 to $91.00 and gave the stock a buy rating in a research report on Friday, December 29th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. La Jolla Pharmaceutical currently has a consensus rating of Hold and a consensus target price of $57.00.

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Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) opened at $32.51 on Tuesday. La Jolla Pharmaceutical has a fifty-two week low of $22.68 and a fifty-two week high of $41.36. The stock has a market cap of $719.94, a P/E ratio of -6.02 and a beta of 1.29.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.74) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.25) by ($0.49). analysts forecast that La Jolla Pharmaceutical will post -5 earnings per share for the current fiscal year.

In other La Jolla Pharmaceutical news, COO Jennifer Carver purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, December 27th. The shares were acquired at an average cost of $33.22 per share, for a total transaction of $33,220.00. Following the completion of the transaction, the chief operating officer now owns 4,500 shares of the company’s stock, valued at $149,490. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kevin C. Tang purchased 10,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was acquired at an average price of $30.44 per share, for a total transaction of $304,400.00. The disclosure for this purchase can be found here. Insiders acquired 338,000 shares of company stock worth $10,902,320 over the last quarter. Insiders own 25.47% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in La Jolla Pharmaceutical by 19.2% in the second quarter. The Manufacturers Life Insurance Company now owns 13,397 shares of the biopharmaceutical company’s stock worth $399,000 after acquiring an additional 2,162 shares during the period. California State Teachers Retirement System raised its position in shares of La Jolla Pharmaceutical by 13.1% during the 2nd quarter. California State Teachers Retirement System now owns 30,995 shares of the biopharmaceutical company’s stock valued at $923,000 after purchasing an additional 3,600 shares during the period. Jane Street Group LLC bought a new stake in shares of La Jolla Pharmaceutical during the 3rd quarter valued at $200,000. Trexquant Investment LP bought a new stake in shares of La Jolla Pharmaceutical during the 3rd quarter valued at $217,000. Finally, Geode Capital Management LLC raised its position in shares of La Jolla Pharmaceutical by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 155,954 shares of the biopharmaceutical company’s stock valued at $5,018,000 after purchasing an additional 6,375 shares during the period.

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La Jolla Pharmaceutical Company Profile

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).

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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