La Jolla Pharmaceutical (NASDAQ:LJPC) Downgraded to Hold at Zacks Investment Research


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Zacks Investment Research downgraded shares of La Jolla Pharmaceutical (NASDAQ:LJPC) from a buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

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. “

Separately, ValuEngine upgraded La Jolla Pharmaceutical from a hold rating to a buy rating in a report on Friday, December 25th.

La Jolla Pharmaceutical stock opened at $5.41 on Wednesday. La Jolla Pharmaceutical has a one year low of $3.36 and a one year high of $9.38. The stock has a market capitalization of $148.13 million, a PE ratio of -2.40 and a beta of 2.93. The business’s fifty day moving average is $4.41 and its 200 day moving average is $4.20.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings data on Saturday, November 14th. The biopharmaceutical company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.11. The business had revenue of $9.07 million for the quarter. As a group, research analysts anticipate that La Jolla Pharmaceutical will post -1.68 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. FMR LLC boosted its holdings in La Jolla Pharmaceutical by 3.3% during the first quarter. FMR LLC now owns 4,061,425 shares of the biopharmaceutical company’s stock worth $26,115,000 after purchasing an additional 128,074 shares during the last quarter. Morgan Stanley raised its holdings in La Jolla Pharmaceutical by 67.1% during the 1st quarter. Morgan Stanley now owns 638,120 shares of the biopharmaceutical company’s stock worth $2,680,000 after purchasing an additional 256,246 shares during the last quarter. California Public Employees Retirement System raised its holdings in La Jolla Pharmaceutical by 32.3% during the 2nd quarter. California Public Employees Retirement System now owns 42,200 shares of the biopharmaceutical company’s stock worth $180,000 after purchasing an additional 10,300 shares during the last quarter. Prudential Financial Inc. bought a new position in La Jolla Pharmaceutical during the 2nd quarter worth approximately $200,000. Finally, Goldman Sachs Group Inc. raised its holdings in La Jolla Pharmaceutical by 67.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 35,553 shares of the biopharmaceutical company’s stock worth $151,000 after purchasing an additional 14,358 shares during the last quarter. 70.97% of the stock is owned by institutional investors.

About La Jolla Pharmaceutical

La Jolla Pharmaceutical Company, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for life-threatening diseases. The company offers GIAPREZA (angiotensin II), a vasoconstrictor indicated to increase blood pressure in adults with septic or other distributive shock.

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