La Jolla Pharmaceutical Co. (NASDAQ:LJPC) was down 6.6% during mid-day trading on Wednesday . The company traded as low as $24.90 and last traded at $25.25, with a volume of 157,368 shares changing hands. The stock had previously closed at $27.03.

A number of equities research analysts have issued reports on LJPC shares. Chardan Capital set a $80.00 target price on shares of La Jolla Pharmaceutical and gave the company a “buy” rating in a research note on Thursday, September 8th. 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 note on Thursday, September 8th. Zacks Investment Research lowered shares of La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Thursday, August 25th. SunTrust Banks Inc. assumed coverage on shares of La Jolla Pharmaceutical in a research note on Wednesday, June 22nd. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Lake Street Capital assumed coverage on shares of La Jolla Pharmaceutical in a research note on Tuesday, May 24th. They issued a “buy” rating and a $25.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $38.83.

The stock’s market cap is $479.53 million. The company has a 50-day moving average of $18.76 and a 200 day moving average of $18.13.

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La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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%. Analysts expect that La Jolla Pharmaceutical Co. will post ($3.72) earnings per share for the current fiscal year.

In related news, Director Kevin C. Tang acquired 139,035 shares of the stock in a transaction dated Tuesday, September 13th. The stock was bought at an average price of $19.82 per share, with a total value of $2,755,673.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 26.43% of the company’s stock.

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of La Jolla Pharmaceutical by 1.8% in the second quarter. Vanguard Group Inc. now owns 484,062 shares of the biopharmaceutical company’s stock valued at $7,745,000 after buying an additional 8,687 shares in the last quarter. SECOR Capital Advisors LP bought a new stake in shares of La Jolla Pharmaceutical during the second quarter valued at about $608,000. Nationwide Fund Advisors increased its stake 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 valued at $147,000 after buying an additional 491 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of La Jolla Pharmaceutical by 8.1% in the second quarter. Advisors Asset Management Inc. now owns 46,476 shares of the biopharmaceutical company’s stock valued at $744,000 after buying an additional 3,465 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in shares of La Jolla Pharmaceutical by 99.6% in the second quarter. GSA Capital Partners LLP now owns 44,900 shares of the biopharmaceutical company’s stock valued at $718,000 after buying an additional 22,400 shares in the last quarter. 87.52% of the stock is owned by institutional investors.

La Jolla Pharmaceutical Company Profile

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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