Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) traded down 8.6% during trading on Thursday . The company traded as low as $23.81 and last traded at $24.29. 582,500 shares changed hands during mid-day trading, an increase of 28% from the average session volume of 456,515 shares. The stock had previously closed at $26.59.

A number of analysts have commented on the stock. BidaskClub cut shares of La Jolla Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Friday. J P Morgan Chase & Co cut shares of La Jolla Pharmaceutical from an “overweight” rating to an “underweight” rating and set a $20.00 price target for the company. in a research note on Friday, December 8th. ValuEngine cut shares of La Jolla Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Wednesday, November 1st. Finally, Cowen reiterated a “buy” rating and issued a $55.00 price target on shares of La Jolla Pharmaceutical in a research note on Friday, October 27th. Three analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. La Jolla Pharmaceutical currently has an average rating of “Hold” and an average price target of $49.33.

La Jolla Pharmaceutical (NASDAQ:LJPC) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.24) by $0.05. equities research analysts anticipate that La Jolla Pharmaceutical will post -4.93 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc lifted its stake in shares of La Jolla Pharmaceutical by 11.6% during the 2nd quarter. Legal & General Group Plc now owns 4,456 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 462 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of La Jolla Pharmaceutical during the 3rd quarter worth about $200,000. Trexquant Investment LP acquired a new stake in shares of La Jolla Pharmaceutical during the 3rd quarter worth about $217,000. Voya Investment Management LLC acquired a new stake in shares of La Jolla Pharmaceutical during the 2nd quarter worth about $243,000. Finally, Nationwide Fund Advisors lifted its stake in shares of La Jolla Pharmaceutical by 20.4% during the 2nd quarter. Nationwide Fund Advisors now owns 9,952 shares of the biopharmaceutical company’s stock worth $296,000 after buying an additional 1,688 shares during 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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