La Jolla Pharmaceutical (NASDAQ:LJPC) was the recipient of a large growth in short interest in the month of December. As of December 29th, there was short interest totalling 5,038,109 shares, a growth of 32.0% from the December 15th total of 3,815,677 shares. Based on an average trading volume of 848,888 shares, the days-to-cover ratio is currently 5.9 days. Currently, 24.4% of the shares of the company are sold short.

La Jolla Pharmaceutical (NASDAQ LJPC) opened at $30.46 on Monday. La Jolla Pharmaceutical has a twelve month low of $16.71 and a twelve month high of $39.28. The stock has a market cap of $674.54, a PE ratio of -5.97 and a beta of 1.63.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.19) earnings per share for the quarter, beating the consensus estimate of ($1.24) by $0.05. equities analysts forecast that La Jolla Pharmaceutical will post -4.91 earnings per share for the current year.

Several research firms have recently issued reports on LJPC. BidaskClub downgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Cowen restated a “buy” rating and set a $55.00 price objective on shares of La Jolla Pharmaceutical in a report on Friday, October 27th. ValuEngine upgraded shares of La Jolla Pharmaceutical from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 26th. SunTrust Banks set a $65.00 price objective on shares of La Jolla Pharmaceutical and gave the stock a “buy” rating in a report on Thursday, December 28th. Finally, Zacks Investment Research upgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $57.14.

In other news, COO Jennifer Carver bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 27th. The shares were purchased at an average price of $33.22 per share, for a total transaction of $33,220.00. Following the acquisition, the chief operating officer now directly owns 4,500 shares of the company’s stock, valued at approximately $149,490. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Laura L. Douglass sold 10,000 shares of La Jolla Pharmaceutical stock in a transaction on Friday, December 29th. The stock was sold at an average price of $32.32, for a total transaction of $323,200.00. The disclosure for this sale can be found here. Company insiders own 25.47% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of La Jolla Pharmaceutical by 0.6% during the 2nd quarter. FMR LLC now owns 3,313,318 shares of the biopharmaceutical company’s stock valued at $98,637,000 after acquiring an additional 18,883 shares in the last quarter. State Street Corp boosted its position in shares of La Jolla Pharmaceutical by 235.1% during the 2nd quarter. State Street Corp now owns 1,180,368 shares of the biopharmaceutical company’s stock valued at $35,140,000 after acquiring an additional 828,081 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of La Jolla Pharmaceutical during the 2nd quarter valued at about $25,191,000. Vanguard Group Inc. boosted its position in shares of La Jolla Pharmaceutical by 23.3% during the 2nd quarter. Vanguard Group Inc. now owns 816,779 shares of the biopharmaceutical company’s stock valued at $24,316,000 after acquiring an additional 154,494 shares in the last quarter. Finally, Redmile Group LLC boosted its position in shares of La Jolla Pharmaceutical by 18.0% during the 2nd quarter. Redmile Group LLC now owns 713,280 shares of the biopharmaceutical company’s stock valued at $21,234,000 after acquiring an additional 108,810 shares in the last quarter.

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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).

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