BidaskClub upgraded shares of La Jolla Pharmaceutical Company (NASDAQ:LJPC) from a sell rating to a hold rating in a report released on Wednesday.

Other equities research analysts also recently issued research reports about the stock. SunTrust Banks, Inc. restated a buy rating and issued a $57.00 target price on shares of La Jolla Pharmaceutical in a research note on Saturday, April 22nd. Chardan Capital set a $34.00 target price on shares of La Jolla Pharmaceutical and gave the company a buy rating in a research note on Monday, May 22nd. Noble Financial restated a buy rating on shares of La Jolla Pharmaceutical in a research note on Sunday, April 30th. Cowen and Company restated a buy rating and issued a $55.00 target price on shares of La Jolla Pharmaceutical in a research note on Friday, April 28th. Finally, Zacks Investment Research upgraded shares of La Jolla Pharmaceutical from a hold rating to a buy rating and set a $33.00 target price on the stock in a research note on Thursday, June 29th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $51.67.

Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) traded up 1.39% during mid-day trading on Wednesday, reaching $30.57. 141,077 shares of the company traded hands. The stock’s 50 day moving average is $31.59 and its 200 day moving average is $28.78. La Jolla Pharmaceutical has a 52-week low of $14.63 and a 52-week high of $39.28. The stock’s market capitalization is $676.30 million.

La Jolla Pharmaceutical (NASDAQ:LJPC) last announced its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.12) by $0.09. La Jolla Pharmaceutical had a negative net margin of 12,692.37% and a negative return on equity of 91.66%. During the same quarter in the prior year, the business posted ($0.90) earnings per share. On average, analysts anticipate that La Jolla Pharmaceutical will post ($4.96) earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc increased its position in shares of La Jolla Pharmaceutical by 11.6% in the second quarter. Legal & General Group Plc now owns 4,456 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 462 shares during the period. SG Americas Securities LLC acquired a new position in La Jolla Pharmaceutical during the first quarter worth about $195,000. Teza Capital Management LLC acquired a new position in La Jolla Pharmaceutical during the first quarter worth about $204,000. RidgeWorth Capital Management LLC acquired a new position in La Jolla Pharmaceutical during the first quarter worth about $227,000. Finally, American International Group Inc. increased its position in La Jolla Pharmaceutical by 7.1% in the first quarter. American International Group Inc. now owns 8,571 shares of the biopharmaceutical company’s stock worth $256,000 after buying an additional 568 shares during the last quarter.

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).

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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