HC Wainwright Reaffirms “Buy” Rating for La Jolla Pharmaceutical (LJPC)
HC Wainwright restated their buy rating on shares of La Jolla Pharmaceutical (NASDAQ:LJPC) in a research report sent to investors on Thursday. HC Wainwright currently has a $53.00 target price on the biopharmaceutical company’s stock.
“We base our $53 price target on a sum-of-the-parts analysis based on (1) the P/E value of La Jolla’s current commercial business (Giapreza), (2) an NPV of its pipeline (LJPC-401), and (3) our estimated year-end fully diluted net cash of $3.66/share, which includes the capital raise earlier this year and the royalty agreement, to arrive at our price target. We value the current commercial business at $39.78 per share, and the pipeline at $9.14 per share. The commercial business value is based on a P/E multiple assumption of 30x our 2023E EPS of $2.02, discounted at 15%.”,” HC Wainwright’s analyst wrote.
Other research analysts have also issued research reports about the company. ValuEngine upgraded La Jolla Pharmaceutical from a hold rating to a buy rating in a research report on Wednesday, May 2nd. Zacks Investment Research upgraded shares of La Jolla Pharmaceutical from a sell rating to a hold rating in a research report on Tuesday, April 17th. BidaskClub upgraded shares of La Jolla Pharmaceutical from a hold rating to a buy rating in a research report on Tuesday, July 24th. Finally, Chardan Capital reiterated a buy rating and issued a $115.00 price objective on shares of La Jolla Pharmaceutical in a research report on Monday, June 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $50.00.
La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($2.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.95) by ($0.07). The business had revenue of $1.59 million during the quarter, compared to analysts’ expectations of $2.48 million. equities analysts forecast that La Jolla Pharmaceutical will post -7.44 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. WINTON GROUP Ltd acquired a new stake in La Jolla Pharmaceutical in the first quarter worth about $276,000. UBS Group AG lifted its stake in La Jolla Pharmaceutical by 529.3% in the 1st quarter. UBS Group AG now owns 97,622 shares of the biopharmaceutical company’s stock valued at $2,907,000 after acquiring an additional 82,109 shares in the last quarter. LPL Financial LLC bought a new stake in La Jolla Pharmaceutical in the 4th quarter valued at approximately $434,000. MetLife Investment Advisors LLC bought a new stake in La Jolla Pharmaceutical in the 4th quarter valued at approximately $276,000. Finally, Asymmetry Capital Management L.P. bought a new stake in La Jolla Pharmaceutical in the 1st quarter valued at approximately $1,664,000.
La Jolla Pharmaceutical Company Profile
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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