La Jolla Pharmaceutical’s (LJPC) “Buy” Rating Reiterated at Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of La Jolla Pharmaceutical Company (NASDAQ:LJPC) in a research report report published on Tuesday. Jefferies Group LLC currently has a $40.00 price target on the biopharmaceutical company’s stock.
A number of other research analysts also recently commented on the stock. J P Morgan Chase & Co assumed coverage on shares of La Jolla Pharmaceutical in a research note on Wednesday, August 30th. They set an overweight rating and a $36.00 price objective for the company. BidaskClub raised shares of La Jolla Pharmaceutical from a sell rating to a hold rating in a research note on Wednesday, August 9th. Chardan Capital reaffirmed a buy rating and set a $85.00 price objective on shares of La Jolla Pharmaceutical in a research note on Tuesday, August 8th. Finally, Zacks Investment Research downgraded shares of La Jolla Pharmaceutical from a buy rating to a hold rating in a research report on Tuesday, July 18th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. La Jolla Pharmaceutical has an average rating of Buy and a consensus price target of $54.60.
Shares of La Jolla Pharmaceutical (NASDAQ LJPC) traded up 3.43% on Tuesday, reaching $35.91. 278,435 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $33.08 and its 200-day moving average price is $30.78. The stock’s market capitalization is $794.44 million. La Jolla Pharmaceutical has a 52 week low of $14.63 and a 52 week 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). During the same quarter in the prior year, the business earned ($0.90) EPS. Equities analysts predict that La Jolla Pharmaceutical will post ($4.99) EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of LJPC. Legal & General Group Plc increased its position in 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 purchasing an additional 462 shares in the last quarter. SG Americas Securities LLC acquired a new stake in La Jolla Pharmaceutical during the 1st quarter worth approximately $195,000. Voya Investment Management LLC acquired a new stake in La Jolla Pharmaceutical during the 2nd quarter worth approximately $243,000. American International Group Inc. increased its position in La Jolla Pharmaceutical by 7.1% during the 1st quarter. American International Group Inc. now owns 8,571 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 568 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in La Jolla Pharmaceutical during the 1st quarter worth approximately $271,000.
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).
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