Zacks Investment Research upgraded shares of La Jolla Pharmaceutical (NASDAQ:LJPC) from a sell rating to a hold rating in a report released on Saturday.

According to Zacks, “LA JOLLA PHARMACEUTICAL CO. is engaged in the research and development of therapeutic products for the treatment of autoimmune and inflammatory diseases. “

A number of other brokerages have also weighed in on LJPC. ValuEngine lowered La Jolla Pharmaceutical from a buy rating to a hold rating in a research note on Friday, May 18th. Jefferies Financial Group lowered their price objective on La Jolla Pharmaceutical from $23.00 to $22.00 and set an underperform rating for the company in a research note on Thursday, August 9th. Chardan Capital restated a buy rating and set a $115.00 price objective on shares of La Jolla Pharmaceutical in a research note on Monday, June 18th. BidaskClub upgraded La Jolla Pharmaceutical from a hold rating to a buy rating in a research note on Tuesday, July 24th. Finally, HC Wainwright lowered their price objective on La Jolla Pharmaceutical to $53.00 and set a buy rating for the company in a research note on Friday, July 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $50.00.

Shares of NASDAQ LJPC opened at $23.77 on Friday. La Jolla Pharmaceutical has a fifty-two week low of $20.25 and a fifty-two week high of $41.36. The company has a market cap of $604.25 million, a price-to-earnings ratio of -4.39 and a beta of 1.69.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($2.02) earnings per share for the quarter, missing analysts’ consensus estimates 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 research analysts forecast that La Jolla Pharmaceutical will post -7.69 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in La Jolla Pharmaceutical by 6.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 92,226 shares of the biopharmaceutical company’s stock worth $2,689,000 after buying an additional 5,964 shares during the last quarter. Scopia Capital Management LP lifted its holdings in La Jolla Pharmaceutical by 346.8% during the 2nd quarter. Scopia Capital Management LP now owns 2,583,170 shares of the biopharmaceutical company’s stock worth $75,351,000 after buying an additional 2,005,025 shares during the last quarter. MetLife Investment Advisors LLC lifted its holdings in La Jolla Pharmaceutical by 42.8% during the 2nd quarter. MetLife Investment Advisors LLC now owns 12,259 shares of the biopharmaceutical company’s stock worth $358,000 after buying an additional 3,674 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in La Jolla Pharmaceutical by 42.5% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 8,699 shares of the biopharmaceutical company’s stock worth $254,000 after buying an additional 2,594 shares during the last quarter. Finally, Highland Capital Management LP lifted its holdings in La Jolla Pharmaceutical by 51.8% during the 2nd quarter. Highland Capital Management LP now owns 38,700 shares of the biopharmaceutical company’s stock worth $1,129,000 after buying an additional 13,200 shares during the last quarter.

About La Jolla Pharmaceutical

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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