J P Morgan Chase & Co assumed coverage on shares of La Jolla Pharmaceutical Company (NASDAQ:LJPC) in a research note issued on Wednesday. The brokerage set an “overweight” rating on the biopharmaceutical company’s stock.

LJPC has been the topic of a number of other research reports. ValuEngine raised La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. BidaskClub raised La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Jefferies Group LLC reissued a “buy” rating and issued a $40.00 price objective on shares of La Jolla Pharmaceutical in a research note on Tuesday, July 25th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and issued a $57.00 price objective on shares of La Jolla Pharmaceutical in a research note on Monday, May 22nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $51.67.

Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) opened at 34.31 on Wednesday. The firm’s market capitalization is $759.04 million. The company has a 50-day moving average of $31.27 and a 200-day moving average of $29.49. La Jolla Pharmaceutical has a 1-year low of $14.63 and a 1-year high of $39.28.

La Jolla Pharmaceutical (NASDAQ:LJPC) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($1.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.12) by $0.09. La Jolla Pharmaceutical had a negative return on equity of 91.66% and a negative net margin of 12,692.37%. During the same period in the prior year, the company posted ($0.90) earnings per share. Equities research analysts predict that La Jolla Pharmaceutical will post ($4.95) EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This story was first reported by Watch List News and is the property of of Watch List News. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. & international trademark and copyright laws. The original version of this story can be viewed at https://www.watchlistnews.com/j-p-morgan-chase-co-begins-coverage-on-la-jolla-pharmaceutical-company-ljpc/1531313.html.

A number of hedge funds and other institutional investors have recently bought and sold shares of LJPC. Legal & General Group Plc raised its position in La Jolla Pharmaceutical by 11.6% in the second quarter. Legal & General Group Plc now owns 4,456 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 462 shares during the last quarter. SG Americas Securities LLC acquired a new position in La Jolla Pharmaceutical during the first quarter valued at $195,000. Teza Capital Management LLC acquired a new position in La Jolla Pharmaceutical during the first quarter valued at $204,000. RidgeWorth Capital Management LLC acquired a new position in La Jolla Pharmaceutical during the first quarter valued at $227,000. Finally, Voya Investment Management LLC acquired a new position in La Jolla Pharmaceutical during the second quarter valued at $243,000.

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).

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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