La Jolla Pharmaceutical Company Sees Strong Trading Volume on Analyst Upgrade (LJPC)
La Jolla Pharmaceutical Company (NASDAQ:LJPC) shares saw unusually-high trading volume on Thursday after Noble Financial raised their price target on the stock from $34.00 to $38.00, StockRatingsNetwork reports. Noble Financial currently has a buy rating on the stock. Approximately 116,904 shares traded hands during mid-day trading, an increase of 67% from the previous session’s volume of 69,994 shares.The stock last traded at $8.86 and had previously closed at $9.01.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of La Jolla Pharmaceutical Company to a “neutral” rating in a research note on Wednesday, May 7th. They now have a $9.70 price target on the stock. Separately, analysts at Wainwright initiated coverage on shares of La Jolla Pharmaceutical Company in a research note on Monday, May 5th. They set a “buy” rating and a $17.00 price target on the stock. Finally, analysts at HC Wainwright initiated coverage on shares of La Jolla Pharmaceutical Company in a research note on Monday, May 5th. They set a “buy” rating and a $17.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $28.12.
The stock’s 50-day moving average is $8.44 and its 200-day moving average is $9.08. The company’s market cap is $68.9 million.
La Jolla Pharmaceutical Company (NASDAQ:LJPC) last issued its quarterly earnings data on Friday, May 2nd. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by $0.02. On average, analysts predict that La Jolla Pharmaceutical Company will post $-3.55 earnings per share for the current fiscal year.
La Jolla Pharmaceutical Company is a biopharmaceutical company. The Company is focused on the development of therapeutic agents that inhibit the activity of galectins as a means of treating human diseases such as chronic organ failure and cancer.
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