La Jolla Pharmaceutical (NASDAQ:LJPC) Trading Up 7.5%

La Jolla Pharmaceutical (NASDAQ:LJPC) was up 7.5% on Wednesday . The stock traded as high as $11.41 and last traded at $11.20, approximately 495,258 shares traded hands during mid-day trading. A decline of 47% from the average daily volume of 932,637 shares. The stock had previously closed at $10.42.

Several equities analysts have recently weighed in on LJPC shares. Zacks Investment Research lowered La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. HC Wainwright set a $27.00 price objective on La Jolla Pharmaceutical and gave the company a “buy” rating in a research note on Thursday, August 29th. BidaskClub raised La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Chardan Capital reaffirmed a “buy” rating on shares of La Jolla Pharmaceutical in a research note on Thursday, August 15th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $15.50.

The firm has a 50-day moving average of $9.37 and a 200 day moving average of $8.07. The stock has a market capitalization of $296.25 million, a price-to-earnings ratio of -1.39 and a beta of 2.17.



La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.12) EPS for the quarter, hitting the consensus estimate of ($1.12). The firm had revenue of $5.70 million for the quarter, compared to analyst estimates of $5.76 million. La Jolla Pharmaceutical had a negative return on equity of 715.12% and a negative net margin of 891.53%. Research analysts forecast that La Jolla Pharmaceutical will post -4.25 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in LJPC. Bank of America Corp DE lifted its position in La Jolla Pharmaceutical by 10.6% during the 4th quarter. Bank of America Corp DE now owns 55,946 shares of the biopharmaceutical company’s stock worth $527,000 after acquiring an additional 5,353 shares in the last quarter. Deutsche Bank AG lifted its position in La Jolla Pharmaceutical by 11.3% during the 4th quarter. Deutsche Bank AG now owns 47,803 shares of the biopharmaceutical company’s stock worth $450,000 after acquiring an additional 4,859 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in La Jolla Pharmaceutical by 63,657.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,463 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 4,456 shares in the last quarter. Bank of Montreal Can lifted its position in La Jolla Pharmaceutical by 901.3% during the 1st quarter. Bank of Montreal Can now owns 5,537 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 4,984 shares in the last quarter. Finally, Spark Investment Management LLC lifted its position in La Jolla Pharmaceutical by 213.0% during the 1st quarter. Spark Investment Management LLC now owns 384,917 shares of the biopharmaceutical company’s stock worth $2,475,000 after acquiring an additional 261,922 shares in the last quarter.

La Jolla Pharmaceutical Company Profile (NASDAQ:LJPC)

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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