Brokerages Set La Jolla Pharmaceutical (NASDAQ:LJPC) Price Target at $6.00

Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) have received a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $7.00.

LJPC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Wednesday, June 17th. ValuEngine upgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Friday, May 1st. Finally, Ci Capital reiterated a “buy” rating and issued a $8.00 price objective on shares of La Jolla Pharmaceutical in a research note on Wednesday, June 24th.

Shares of LJPC stock traded down $0.11 during trading hours on Tuesday, reaching $4.39. 571,000 shares of the stock traded hands, compared to its average volume of 938,163. La Jolla Pharmaceutical has a 1-year low of $2.30 and a 1-year high of $11.41. The business has a fifty day moving average price of $5.75 and a 200 day moving average price of $5.98. The firm has a market capitalization of $121.76 million, a PE ratio of -1.27 and a beta of 2.52.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings results on Monday, May 4th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.92) by $0.60. The firm had revenue of $7.59 million for the quarter, compared to analyst estimates of $8.50 million. As a group, analysts forecast that La Jolla Pharmaceutical will post -2 earnings per share for the current year.

In other La Jolla Pharmaceutical news, Director Kevin C. Tang bought 253,553 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was bought at an average cost of $4.88 per share, with a total value of $1,237,338.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin C. Tang bought 615,129 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was acquired at an average cost of $5.01 per share, with a total value of $3,081,796.29. The disclosure for this purchase can be found here. 33.39% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of LJPC. BNP Paribas Arbitrage SA grew its position in La Jolla Pharmaceutical by 112.8% in the first quarter. BNP Paribas Arbitrage SA now owns 6,372 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 3,378 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of La Jolla Pharmaceutical by 74.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,000 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 2,981 shares during the period. RMR Wealth Builders bought a new stake in shares of La Jolla Pharmaceutical during the 4th quarter worth $31,000. Tower Research Capital LLC TRC boosted its holdings in shares of La Jolla Pharmaceutical by 14,898.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,399 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 8,343 shares during the period. Finally, Gabelli Funds LLC bought a new stake in shares of La Jolla Pharmaceutical during the 4th quarter worth $39,000. 79.25% of the stock is owned by institutional investors.

About La Jolla Pharmaceutical

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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