Broadfin Capital, LLC

recently stated that they own a 5% stake in La Jolla Pharmaceutical (NASDAQ:LJPC) in a Schedule 13G disclosure that was filed with the SEC on Thursday, January 11th. The investor owns 1,108,239 shares of the stock worth approximately $33,623,971. The reporting parties listed on the disclosure included Broadfin Capital, LLC, Broadfin Healthcare Master Fund, Ltd and Kevin Kotler. The filing is available through EDGAR at this link.

Several other hedge funds have also added to or reduced their stakes in LJPC. Janus Henderson Group PLC bought a new position in shares of La Jolla Pharmaceutical during the second quarter valued at $25,191,000. State Street Corp raised its stake in shares of La Jolla Pharmaceutical by 235.1% during the second quarter. State Street Corp now owns 1,180,368 shares of the biopharmaceutical company’s stock valued at $35,140,000 after acquiring an additional 828,081 shares during the last quarter. Sectoral Asset Management Inc raised its stake in shares of La Jolla Pharmaceutical by 649.6% during the second quarter. Sectoral Asset Management Inc now owns 589,959 shares of the biopharmaceutical company’s stock valued at $17,563,000 after acquiring an additional 511,259 shares during the last quarter. Oak Ridge Investments LLC bought a new position in shares of La Jolla Pharmaceutical during the third quarter valued at $14,642,000. Finally, Pictet Asset Management Ltd. bought a new position in shares of La Jolla Pharmaceutical during the third quarter valued at $13,266,000.

La Jolla Pharmaceutical (NASDAQ LJPC) traded up $0.74 on Thursday, hitting $30.34. 344,109 shares of the stock traded hands, compared to its average volume of 662,254. La Jolla Pharmaceutical has a 52 week low of $16.71 and a 52 week high of $39.28. The firm has a market capitalization of $671.89, a PE ratio of -5.95 and a beta of 1.63.

La Jolla Pharmaceutical (NASDAQ:LJPC) last posted its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($1.19) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.24) by $0.05. equities research analysts expect that La Jolla Pharmaceutical will post -4.91 EPS for the current fiscal year.

Several research firms have recently issued reports on LJPC. Jefferies Group reaffirmed a “buy” rating and set a $40.00 price target on shares of La Jolla Pharmaceutical in a research note on Tuesday, October 3rd. Cowen reaffirmed a “buy” rating and set a $55.00 price target on shares of La Jolla Pharmaceutical in a research note on Friday, December 22nd. BidaskClub raised shares of La Jolla Pharmaceutical from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 21st. ValuEngine raised shares of La Jolla Pharmaceutical from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 26th. Finally, JPMorgan Chase & Co. downgraded shares of La Jolla Pharmaceutical from an “overweight” rating to an “underweight” rating and set a $20.00 price target for the company. in a research note on Friday, December 8th. Three research analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. La Jolla Pharmaceutical presently has a consensus rating of “Hold” and an average target price of $57.14.

In other news, Director Laura L. Douglass sold 10,000 shares of the stock in a transaction on Friday, December 29th. The shares were sold at an average price of $32.32, for a total transaction of $323,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer Carver acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, December 27th. The shares were purchased at an average price of $33.22 per share, with a total value of $33,220.00. Following the completion of the transaction, the chief operating officer now owns 4,500 shares of the company’s stock, valued at $149,490. The disclosure for this purchase can be found here. Corporate insiders own 25.47% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “5% Stake of La Jolla Pharmaceutical (LJPC) Maintained by Broadfin Capital, LLC” was published by Watch List News and is owned by of Watch List News. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international copyright & trademark laws. The original version of this piece can be read at https://www.watchlistnews.com/5-stake-of-la-jolla-pharmaceutical-ljpc-maintained-by-broadfin-capital-llc/1803376.html.

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).

Want to see what other hedge funds are holding LJPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for La Jolla Pharmaceutical (NASDAQ:LJPC).

Institutional Ownership by Quarter for La Jolla Pharmaceutical (NASDAQ:LJPC)

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