5% Stake of La Jolla Pharmaceutical (LJPC) Maintained by Broadfin Capital, LLC
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.
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).
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.