Shares of La Jolla Pharmaceutical Co. (NASDAQ:LJPC) traded up 10.9% during trading on Tuesday . The stock traded as high as $25.75 and last traded at $25.38, with a volume of 189,963 shares trading hands. The stock had previously closed at $22.89.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Thursday, August 11th. Jefferies Group reiterated a “buy” rating on shares of La Jolla Pharmaceutical in a research report on Wednesday, June 8th. Lake Street Capital initiated coverage on shares of La Jolla Pharmaceutical in a research report on Tuesday, May 24th. They set a “buy” rating and a $25.00 target price for the company. SunTrust Banks Inc. initiated coverage on shares of La Jolla Pharmaceutical in a research report on Wednesday, June 22nd. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Cowen and Company set a $40.00 price objective on shares of La Jolla Pharmaceutical and gave the company a “buy” rating in a research report on Thursday, September 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $38.83.

The stock has a 50-day moving average price of $18.49 and a 200-day moving average price of $18.07. The stock’s market capitalization is $485.74 million.

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La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.09. La Jolla Pharmaceutical had a negative net margin of 3,520.34% and a negative return on equity of 49.08%. On average, equities analysts forecast that La Jolla Pharmaceutical Co. will post ($3.72) earnings per share for the current year.

In related news, Director Kevin C. Tang bought 139,035 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were purchased at an average price of $19.82 per share, for a total transaction of $2,755,673.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 26.43% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. BlackRock Advisors LLC raised its stake in shares of La Jolla Pharmaceutical by 3.0% in the second quarter. BlackRock Advisors LLC now owns 6,693 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 192 shares in the last quarter. American International Group Inc. raised its position in shares of La Jolla Pharmaceutical by 0.5% in the second quarter. American International Group Inc. now owns 8,013 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 38 shares during the period. Nationwide Fund Advisors raised its position in shares of La Jolla Pharmaceutical by 5.6% in the second quarter. Nationwide Fund Advisors now owns 9,184 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 491 shares during the period. Alliancebernstein L.P. acquired a new position in shares of La Jolla Pharmaceutical during the second quarter worth approximately $203,000. Finally, KCG Holdings Inc. acquired a new position in shares of La Jolla Pharmaceutical during the second quarter worth approximately $222,000. Hedge funds and other institutional investors own 87.52% of the company’s stock.

About La Jolla Pharmaceutical

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. It is engaged in the research, development and commercialization of its technologies and drug candidates for pharmaceutical products.

5 Day Chart for NASDAQ:LJPC

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