La Jolla Pharmaceutical (NASDAQ:LJPC) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Friday.

Other equities research analysts also recently issued reports about the company. BidaskClub upgraded La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Chardan Capital reiterated a “buy” rating and issued a $85.00 price target on shares of La Jolla Pharmaceutical in a report on Tuesday, August 8th. Cowen reiterated a “buy” rating and issued a $55.00 price target on shares of La Jolla Pharmaceutical in a report on Friday, October 27th. Jefferies Group reiterated a “buy” rating and issued a $40.00 price target on shares of La Jolla Pharmaceutical in a report on Tuesday, October 3rd. Finally, Zacks Investment Research upgraded 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $52.00.

Shares of La Jolla Pharmaceutical (NASDAQ LJPC) traded down $1.53 during midday trading on Friday, hitting $31.82. The stock had a trading volume of 243,802 shares, compared to its average volume of 150,872. La Jolla Pharmaceutical has a 12-month low of $16.41 and a 12-month high of $39.28.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in La Jolla Pharmaceutical by 0.6% during the 2nd quarter. FMR LLC now owns 3,313,318 shares of the biopharmaceutical company’s stock worth $98,637,000 after purchasing an additional 18,883 shares during the period. Jennison Associates LLC increased its holdings in La Jolla Pharmaceutical by 16.1% during the 2nd quarter. Jennison Associates LLC now owns 2,053,467 shares of the biopharmaceutical company’s stock worth $61,132,000 after purchasing an additional 285,254 shares during the period. State Street Corp increased its holdings in 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 worth $35,140,000 after purchasing an additional 828,081 shares during the period. Janus Henderson Group PLC purchased a new position in La Jolla Pharmaceutical during the 2nd quarter worth $25,191,000. Finally, Vanguard Group Inc. boosted its position in 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.

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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).

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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