BidaskClub Downgrades La Jolla Pharmaceutical (LJPC) to Sell
BidaskClub cut shares of La Jolla Pharmaceutical (NASDAQ:LJPC) from a hold rating to a sell rating in a research note published on Wednesday morning.
A number of other research analysts have also recently weighed in on the company. Zacks Investment Research cut La Jolla Pharmaceutical from a hold rating to a sell rating in a research report on Thursday, February 15th. Jefferies Group cut La Jolla Pharmaceutical from a buy rating to an underperform rating and lowered their price target for the stock from $40.00 to $29.00 in a report on Monday, February 12th. ValuEngine raised La Jolla Pharmaceutical from a sell rating to a hold rating in a report on Friday, February 2nd. Chardan Capital boosted their price target on La Jolla Pharmaceutical from $90.00 to $100.00 and gave the stock a buy rating in a report on Thursday, January 25th. Finally, HC Wainwright boosted their price target on La Jolla Pharmaceutical from $62.00 to $91.00 and gave the stock a buy rating in a report on Friday, December 29th. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $57.00.
La Jolla Pharmaceutical (NASDAQ:LJPC) traded down $0.15 during mid-day trading on Wednesday, hitting $30.69. The stock had a trading volume of 662,387 shares, compared to its average volume of 549,513. La Jolla Pharmaceutical has a 12-month low of $22.68 and a 12-month high of $41.36. The stock has a market cap of $676.33, a PE ratio of -5.68 and a beta of 1.29.
In other news, Director Kevin C. Tang acquired 10,000 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were acquired at an average cost of $30.44 per share, with a total value of $304,400.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Jennifer Carver acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The shares were purchased at an average cost of $33.22 per share, for a total transaction 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 $149,490. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 338,000 shares of company stock worth $10,902,320. 25.47% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of LJPC. Jane Street Group LLC purchased a new stake in shares of La Jolla Pharmaceutical during the 3rd quarter worth approximately $200,000. Trexquant Investment LP purchased a new stake in shares of La Jolla Pharmaceutical during the 3rd quarter worth approximately $217,000. Voya Investment Management LLC purchased a new stake in shares of La Jolla Pharmaceutical during the 2nd quarter worth approximately $243,000. Calton & Associates Inc. purchased a new stake in shares of La Jolla Pharmaceutical during the 4th quarter worth approximately $266,000. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of La Jolla Pharmaceutical during the 4th quarter worth approximately $276,000.
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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).
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