La Jolla Pharmaceutical Company (NASDAQ:LJPC)‘s stock had its “buy” rating reiterated by stock analysts at Cowen and Company in a report issued on Friday. They presently have a $55.00 target price on the biopharmaceutical company’s stock. Cowen and Company’s target price suggests a potential upside of 72.25% from the stock’s current price.

A number of other brokerages have also recently commented on LJPC. Zacks Investment Research cut La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of La Jolla Pharmaceutical in a research report on Tuesday, October 3rd. JPMorgan Chase & Co. initiated coverage on La Jolla Pharmaceutical in a research report on Wednesday, August 30th. They issued an “overweight” rating and a $36.00 target price on the stock. BidaskClub raised La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Chardan Capital reissued a “buy” rating and issued a $85.00 price objective on shares of La Jolla Pharmaceutical in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $54.60.

Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) traded up 7.42% during mid-day trading on Friday, reaching $34.30. The company’s stock had a trading volume of 377,978 shares. The company’s market capitalization is $758.82 million. La Jolla Pharmaceutical has a 1-year low of $14.63 and a 1-year high of $39.28. The company’s 50 day moving average price is $34.13 and its 200-day moving average price is $31.03.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.24) by $0.05. Analysts predict that La Jolla Pharmaceutical will post ($4.99) earnings per share for the current fiscal year.

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A number of large investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its holdings in shares of La Jolla Pharmaceutical by 11.6% in the second quarter. Legal & General Group Plc now owns 4,456 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 462 shares in the last quarter. SG Americas Securities LLC purchased a new position in La Jolla Pharmaceutical during the 1st quarter worth approximately $195,000. Voya Investment Management LLC purchased a new position in La Jolla Pharmaceutical during the 2nd quarter worth approximately $243,000. American International Group Inc. grew its position in La Jolla Pharmaceutical by 7.1% during the 1st quarter. American International Group Inc. now owns 8,571 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 568 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new position in La Jolla Pharmaceutical during the 1st quarter worth approximately $271,000.

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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