La Jolla Pharmaceutical (NASDAQ:LJPC) Director Kevin C. Tang Buys 1,000,000 Shares

La Jolla Pharmaceutical (NASDAQ:LJPC) Director Kevin C. Tang bought 1,000,000 shares of the stock in a transaction that occurred on Thursday, January 9th. The shares were purchased at an average price of $4.99 per share, with a total value of $4,990,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

NASDAQ LJPC traded up $1.28 during trading hours on Tuesday, hitting $8.28. The company had a trading volume of 203,401 shares, compared to its average volume of 1,193,283. La Jolla Pharmaceutical has a 1-year low of $2.30 and a 1-year high of $13.90. The company has a market cap of $162.94 million, a PE ratio of -1.07 and a beta of 2.05. The business has a 50 day moving average of $3.78 and a 200-day moving average of $7.50.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.03). La Jolla Pharmaceutical had a negative net margin of 683.88% and a negative return on equity of 715.11%. The company had revenue of $5.71 million during the quarter, compared to analyst estimates of $6.96 million. On average, sell-side analysts predict that La Jolla Pharmaceutical will post -4.39 earnings per share for the current year.

A number of equities analysts recently commented on LJPC shares. HC Wainwright downgraded shares of La Jolla Pharmaceutical from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 26th. BidaskClub downgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. SunTrust Banks downgraded shares of La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, ValuEngine downgraded shares of La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $14.17.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its holdings in shares of La Jolla Pharmaceutical by 27.2% in the 2nd quarter. Bank of Montreal Can now owns 7,043 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 1,506 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of La Jolla Pharmaceutical by 25.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,236 shares of the biopharmaceutical company’s stock worth $122,000 after purchasing an additional 2,693 shares in the last quarter. Trellus Management Company LLC increased its position in shares of La Jolla Pharmaceutical by 127.1% during the 3rd quarter. Trellus Management Company LLC now owns 26,845 shares of the biopharmaceutical company’s stock worth $236,000 after purchasing an additional 15,024 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of La Jolla Pharmaceutical by 26.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 126,698 shares of the biopharmaceutical company’s stock worth $1,172,000 after purchasing an additional 26,194 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of La Jolla Pharmaceutical by 0.7% during the 2nd quarter. Northern Trust Corp now owns 276,154 shares of the biopharmaceutical company’s stock worth $2,555,000 after purchasing an additional 1,880 shares in the last quarter. Institutional investors own 91.62% of the company’s stock.

La Jolla Pharmaceutical Company Profile

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.

See Also: Investing in Dividend Stocks

Receive News & Ratings for La Jolla Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La Jolla Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.