TD Asset Management Inc. acquired a new stake in La Jolla Pharmaceutical (NASDAQ:LJPC) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,900 shares of the biopharmaceutical company’s stock, valued at approximately $449,000. TD Asset Management Inc. owned 0.06% of La Jolla Pharmaceutical at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in LJPC. Janus Henderson Group PLC purchased a new position in shares of La Jolla Pharmaceutical in the second quarter valued at about $25,191,000. State Street Corp increased its position in shares of La Jolla Pharmaceutical by 235.1% during the second quarter. State Street Corp now owns 1,180,368 shares of the biopharmaceutical company’s stock valued at $35,140,000 after buying an additional 828,081 shares during the period. Sectoral Asset Management Inc increased its position in shares of La Jolla Pharmaceutical by 649.6% during the second quarter. Sectoral Asset Management Inc now owns 589,959 shares of the biopharmaceutical company’s stock valued at $17,563,000 after buying an additional 511,259 shares during the period. Oak Ridge Investments LLC purchased a new position in shares of La Jolla Pharmaceutical during the third quarter valued at about $14,642,000. Finally, Pictet Asset Management Ltd. purchased a new position in shares of La Jolla Pharmaceutical during the third quarter valued at about $13,266,000.

A number of equities research analysts have weighed in on the stock. J P Morgan Chase & Co assumed coverage on shares of La Jolla Pharmaceutical in a report on Wednesday, August 30th. They issued an “overweight” rating and a $36.00 price objective on the stock. Jefferies Group restated a “buy” rating and issued a $40.00 price objective on shares of La Jolla Pharmaceutical in a report on Tuesday, October 3rd. Zacks Investment Research cut shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Cowen restated a “buy” rating and issued a $55.00 price objective on shares of La Jolla Pharmaceutical in a report on Friday, October 27th. Finally, ValuEngine cut shares of La Jolla Pharmaceutical from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. Three research analysts have rated the stock with a sell rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $49.33.

La Jolla Pharmaceutical (NASDAQ:LJPC) opened at $24.29 on Friday. La Jolla Pharmaceutical has a 52 week low of $16.41 and a 52 week high of $39.28.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($1.19) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.24) by $0.05. sell-side analysts anticipate that La Jolla Pharmaceutical will post -4.93 earnings per share for the current fiscal year.

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About La Jolla Pharmaceutical

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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Institutional Ownership by Quarter for La Jolla Pharmaceutical (NASDAQ:LJPC)

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