Shares of La Jolla Pharmaceutical Company (NASDAQ:LJPC) have received an average recommendation of “Buy” from the nine research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $55.40.

A number of brokerages recently issued reports on LJPC. Chardan Capital reissued a “buy” rating and issued a $85.00 price objective on shares of La Jolla Pharmaceutical in a report on Tuesday. BidaskClub lowered La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Jefferies Group LLC reissued a “buy” rating and issued a $40.00 price objective on shares of La Jolla Pharmaceutical in a report on Tuesday, July 25th. Zacks Investment Research lowered La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, ValuEngine raised La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd.

A number of institutional investors have recently modified their holdings of the stock. State Street Corp raised its position in shares of La Jolla Pharmaceutical by 6.3% in the fourth quarter. State Street Corp now owns 227,561 shares of the biopharmaceutical company’s stock worth $3,992,000 after buying an additional 13,495 shares during the last quarter. Teachers Advisors LLC raised its position in shares of La Jolla Pharmaceutical by 12.4% in the fourth quarter. Teachers Advisors LLC now owns 25,390 shares of the biopharmaceutical company’s stock worth $445,000 after buying an additional 2,791 shares during the last quarter. Creative Planning purchased a new position in shares of La Jolla Pharmaceutical during the first quarter worth about $288,000. Essex Investment Management Co. LLC purchased a new position in shares of La Jolla Pharmaceutical during the first quarter worth about $483,000. Finally, Jennison Associates LLC raised its position in shares of La Jolla Pharmaceutical by 586.1% in the first quarter. Jennison Associates LLC now owns 1,768,213 shares of the biopharmaceutical company’s stock worth $52,781,000 after buying an additional 1,510,504 shares during the last quarter.

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La Jolla Pharmaceutical (NASDAQ LJPC) traded up 0.34% during mid-day trading on Tuesday, hitting $32.47. The company had a trading volume of 164,840 shares. La Jolla Pharmaceutical has a 52-week low of $14.63 and a 52-week high of $39.28. The firm’s market cap is $718.33 million. The stock’s 50 day moving average price is $30.87 and its 200 day moving average price is $28.33.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by $0.09. La Jolla Pharmaceutical had a negative return on equity of 91.66% and a negative net margin of 12,692.37%. During the same period in the prior year, the business earned ($0.90) earnings per share. On average, equities research analysts predict that La Jolla Pharmaceutical will post ($4.96) EPS for the current fiscal year.

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. LJPC-501 is its formulation of angiotensin II for the potential treatment of catecholamine-resistant hypotension (CRH).

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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