Q2 2018 Earnings Forecast for La Jolla Pharmaceutical (LJPC) Issued By Jefferies Group

La Jolla Pharmaceutical (NASDAQ:LJPC) – Analysts at Jefferies Group decreased their Q2 2018 earnings estimates for La Jolla Pharmaceutical in a report issued on Monday. Jefferies Group analyst E. Yang now forecasts that the biopharmaceutical company will post earnings per share of ($1.23) for the quarter, down from their prior estimate of ($1.12). Jefferies Group has a “Underperform” rating and a $29.00 price target on the stock. Jefferies Group also issued estimates for La Jolla Pharmaceutical’s Q3 2018 earnings at ($0.96) EPS, Q4 2018 earnings at ($0.94) EPS, FY2018 earnings at ($4.28) EPS, FY2019 earnings at ($2.92) EPS, FY2020 earnings at ($0.52) EPS, FY2021 earnings at ($0.40) EPS and FY2022 earnings at $0.79 EPS.

Several other equities analysts have also recently weighed in on the stock. BidaskClub upgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. ValuEngine upgraded shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Chardan Capital increased their price objective on shares of La Jolla Pharmaceutical from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. HC Wainwright increased their price objective on shares of La Jolla Pharmaceutical from $62.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, December 29th. Finally, SunTrust Banks set a $65.00 price objective on shares of La Jolla Pharmaceutical and gave the stock a “buy” rating in a research note on Thursday, December 28th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $57.00.

La Jolla Pharmaceutical (NASDAQ:LJPC) opened at $33.08 on Wednesday. The stock has a market cap of $708.87, a PE ratio of -6.49 and a beta of 1.20. La Jolla Pharmaceutical has a one year low of $16.71 and a one year high of $41.36.

A number of institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its holdings in La Jolla Pharmaceutical by 8.2% in the 4th quarter. Jennison Associates LLC now owns 2,220,482 shares of the biopharmaceutical company’s stock worth $71,455,000 after acquiring an additional 167,635 shares in the last quarter. State Street Corp increased its holdings in La Jolla Pharmaceutical by 235.1% in the 2nd quarter. State Street Corp now owns 1,180,368 shares of the biopharmaceutical company’s stock worth $35,140,000 after acquiring an additional 828,081 shares in the last quarter. BlackRock Inc. increased its holdings in La Jolla Pharmaceutical by 1.4% in the 4th quarter. BlackRock Inc. now owns 1,177,575 shares of the biopharmaceutical company’s stock worth $37,893,000 after acquiring an additional 15,934 shares in the last quarter. Sectoral Asset Management Inc increased its holdings in La Jolla Pharmaceutical by 42.0% in the 4th quarter. Sectoral Asset Management Inc now owns 854,301 shares of the biopharmaceutical company’s stock worth $27,491,000 after acquiring an additional 252,801 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in La Jolla Pharmaceutical in the 2nd quarter worth approximately $25,191,000.

In related news, Director Laura L. Douglass sold 10,000 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $32.32, for a total value of $323,200.00. Following the completion of the sale, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $193,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jennifer Carver bought 1,000 shares of La Jolla Pharmaceutical stock in a transaction that occurred on Wednesday, December 27th. The stock was purchased at an average cost of $33.22 per share, with a total value of $33,220.00. Following the completion of the acquisition, the chief operating officer now directly owns 4,500 shares in the company, valued at approximately $149,490. The disclosure for this purchase can be found here. 25.47% of the stock is owned by corporate insiders.

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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).

Earnings History and Estimates for La Jolla Pharmaceutical (NASDAQ:LJPC)

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