Equities research analysts at J P Morgan Chase & Co began coverage on shares of La Jolla Pharmaceutical Company (NASDAQ:LJPC) in a report released on Wednesday, MarketBeat.com reports. The firm set an “overweight” rating and a $36.00 price target on the biopharmaceutical company’s stock. J P Morgan Chase & Co’s target price would suggest a potential upside of 5.39% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. BidaskClub raised shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Chardan Capital reissued a “buy” rating and set a $85.00 target price on shares of La Jolla Pharmaceutical in a research report on Tuesday, August 8th. Jefferies Group LLC reissued a “buy” rating and set a $40.00 target price on shares of La Jolla Pharmaceutical in a research report on Tuesday, July 25th. Zacks Investment Research downgraded shares of La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, ValuEngine raised shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. La Jolla Pharmaceutical presently has an average rating of “Buy” and an average price target of $51.00.

La Jolla Pharmaceutical (NASDAQ:LJPC) traded down 0.44% during midday trading on Wednesday, hitting $34.16. The stock had a trading volume of 744,620 shares. La Jolla Pharmaceutical has a 52-week low of $14.63 and a 52-week high of $39.28. The stock’s market cap is $755.72 million. The company’s 50 day moving average price is $31.27 and its 200-day moving average price is $29.49.

La Jolla Pharmaceutical (NASDAQ:LJPC) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.21) 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 quarter in the prior year, the firm posted ($0.90) earnings per share. Analysts forecast that La Jolla Pharmaceutical will post ($4.95) EPS for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the stock. Sphera Funds Management LTD. boosted its stake in La Jolla Pharmaceutical by 117.1% in the first quarter. Sphera Funds Management LTD. now owns 110,000 shares of the biopharmaceutical company’s stock worth $3,284,000 after buying an additional 59,323 shares during the last quarter. Teachers Advisors LLC boosted its stake in 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. Jennison Associates LLC boosted its stake in La Jolla Pharmaceutical by 16.1% in the second quarter. Jennison Associates LLC now owns 2,053,467 shares of the biopharmaceutical company’s stock worth $61,132,000 after buying an additional 285,254 shares during the last quarter. FMR LLC boosted its stake in La Jolla Pharmaceutical by 20.3% in the first quarter. FMR LLC now owns 3,294,435 shares of the biopharmaceutical company’s stock worth $98,339,000 after buying an additional 556,334 shares during the last quarter. Finally, Tang Capital Management LLC boosted its stake in La Jolla Pharmaceutical by 7.8% in the first quarter. Tang Capital Management LLC now owns 3,440,419 shares of the biopharmaceutical company’s stock worth $102,697,000 after buying an additional 249,254 shares during the last quarter.

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. 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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