Shares of La Jolla Pharmaceutical Company (NASDAQ:LJPC) have been given a consensus recommendation of “Buy” by the nine brokerages that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $54.60.

A number of research firms have recently weighed in on LJPC. 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. 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. BidaskClub downgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. 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. Finally, J P Morgan Chase & Co began coverage on shares of La Jolla Pharmaceutical in a research report on Wednesday, August 30th. They set an “overweight” rating and a $36.00 target price for the company.

La Jolla Pharmaceutical (NASDAQ:LJPC) traded up 0.43% during trading on Friday, reaching $34.83. The company had a trading volume of 135,493 shares. The company’s market capitalization is $770.54 million. La Jolla Pharmaceutical has a one year low of $14.63 and a one year high of $39.28. The company has a 50-day moving average price of $34.15 and a 200 day moving average price of $30.90.

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 the Zacks’ consensus estimate of ($1.12) by ($0.09). During the same period last year, the company earned ($0.90) EPS. Analysts expect that La Jolla Pharmaceutical will post ($4.99) earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “La Jolla Pharmaceutical Company (LJPC) Receives Consensus Recommendation of “Buy” from Brokerages” was originally published by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/22/la-jolla-pharmaceutical-company-ljpc-receives-consensus-recommendation-of-buy-from-brokerages.html.

Institutional investors have recently added to or reduced their stakes in the company. Emory University bought a new position in shares of La Jolla Pharmaceutical during the 2nd quarter valued at approximately $1,410,000. Sphera Funds Management LTD. grew its position in shares of La Jolla Pharmaceutical by 13.6% during the 2nd quarter. Sphera Funds Management LTD. now owns 125,000 shares of the biopharmaceutical company’s stock valued at $3,721,000 after acquiring an additional 15,000 shares during the period. Vanguard Group Inc. grew its position in shares of La Jolla Pharmaceutical by 26.4% during the 1st quarter. Vanguard Group Inc. now owns 662,285 shares of the biopharmaceutical company’s stock valued at $19,769,000 after acquiring an additional 138,155 shares during the period. Jennison Associates LLC grew its position in shares of La Jolla Pharmaceutical by 16.1% during the 2nd quarter. Jennison Associates LLC now owns 2,053,467 shares of the biopharmaceutical company’s stock valued at $61,132,000 after acquiring an additional 285,254 shares during the period. Finally, FMR LLC grew its position in shares of La Jolla Pharmaceutical by 20.3% during the 1st quarter. FMR LLC now owns 3,294,435 shares of the biopharmaceutical company’s stock valued at $98,339,000 after acquiring an additional 556,334 shares during the period.

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)

Receive News & Ratings for La Jolla Pharmaceutical Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La Jolla Pharmaceutical Company and related companies with MarketBeat.com's FREE daily email newsletter.