Zacks: Brokerages Anticipate La Jolla Pharmaceutical (LJPC) Will Post Quarterly Sales of $3.38 Million

Wall Street analysts expect La Jolla Pharmaceutical (NASDAQ:LJPC) to report sales of $3.38 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for La Jolla Pharmaceutical’s earnings. The highest sales estimate is $4.00 million and the lowest is $3.00 million. The firm is expected to announce its next earnings report on Thursday, October 25th.

According to Zacks, analysts expect that La Jolla Pharmaceutical will report full year sales of $14.19 million for the current year, with estimates ranging from $10.20 million to $23.00 million. For the next financial year, analysts forecast that the business will report sales of $81.63 million per share, with estimates ranging from $43.59 million to $140.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover La Jolla Pharmaceutical.

La Jolla Pharmaceutical (NASDAQ:LJPC) last posted its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($2.02) EPS for the quarter, missing analysts’ consensus estimates of ($1.95) by ($0.07). The firm had revenue of $1.59 million during the quarter, compared to the consensus estimate of $2.48 million.

A number of research firms have recently commented on LJPC. Zacks Investment Research raised La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a report on Saturday, September 8th. ValuEngine cut La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a report on Friday, June 29th. HC Wainwright reissued a “buy” rating and set a $53.00 price target on shares of La Jolla Pharmaceutical in a report on Friday, September 7th. Chardan Capital reissued a “buy” rating and set a $115.00 price target on shares of La Jolla Pharmaceutical in a report on Monday, June 18th. Finally, BidaskClub cut La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $50.00.

A number of institutional investors and hedge funds have recently modified their holdings of LJPC. SG Americas Securities LLC acquired a new position in La Jolla Pharmaceutical in the 1st quarter worth about $134,000. Silvant Capital Management LLC acquired a new position in La Jolla Pharmaceutical in the 1st quarter worth about $189,000. Metropolitan Life Insurance Co. NY increased its holdings in La Jolla Pharmaceutical by 42.5% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 8,699 shares of the biopharmaceutical company’s stock worth $254,000 after purchasing an additional 2,594 shares in the last quarter. WINTON GROUP Ltd acquired a new position in La Jolla Pharmaceutical in the 1st quarter worth about $276,000. Finally, First Midwest Bank Trust Division acquired a new position in La Jolla Pharmaceutical in the 2nd quarter worth about $279,000.

Shares of La Jolla Pharmaceutical stock traded down $0.55 during trading on Friday, reaching $20.60. 295,410 shares of the company’s stock were exchanged, compared to its average volume of 397,060. La Jolla Pharmaceutical has a 1-year low of $20.25 and a 1-year high of $41.36.

About La Jolla Pharmaceutical

La Jolla Pharmaceutical Company, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for life-threatening diseases. It offers GIAPREZA, an injection for intravenous infusion indicated to increase blood pressure in adults with septic or other distributive shock.

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

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