Shares of La Jolla Pharmaceutical Company (NASDAQ:LJPC) have earned a consensus rating of “Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $54.60.

Several brokerages have commented on LJPC. BidaskClub upgraded shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Chardan Capital restated a “buy” rating and set a $85.00 price objective on shares of La Jolla Pharmaceutical in a research report on Tuesday, August 8th. Jefferies Group LLC restated a “buy” rating and set a $40.00 price objective on shares of La Jolla Pharmaceutical in a research report on Tuesday, July 25th. Zacks Investment Research upgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Thursday, June 29th. Finally, ValuEngine upgraded shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Emory University acquired a new position in shares of La Jolla Pharmaceutical during the second quarter worth $1,410,000. Sphera Funds Management LTD. increased its holdings in shares of La Jolla Pharmaceutical by 13.6% during the second quarter. Sphera Funds Management LTD. now owns 125,000 shares of the biopharmaceutical company’s stock worth $3,721,000 after buying an additional 15,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of La Jolla Pharmaceutical by 26.4% during the first quarter. Vanguard Group Inc. now owns 662,285 shares of the biopharmaceutical company’s stock worth $19,769,000 after buying an additional 138,155 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of La Jolla Pharmaceutical by 16.1% during the second quarter. Jennison Associates LLC now owns 2,053,467 shares of the biopharmaceutical company’s stock worth $61,132,000 after buying an additional 285,254 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in shares of La Jolla Pharmaceutical by 12.4% during the fourth quarter. Teachers Advisors LLC now owns 25,390 shares of the biopharmaceutical company’s stock worth $445,000 after buying an additional 2,791 shares in the last quarter.

La Jolla Pharmaceutical (LJPC) traded up 1.25% during midday trading on Wednesday, reaching $34.78. The company had a trading volume of 196,577 shares. The stock’s market cap is $769.44 million. La Jolla Pharmaceutical has a 12 month low of $14.63 and a 12 month high of $39.28. The firm has a 50-day moving average of $31.40 and a 200-day moving average of $30.68.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.21) earnings per share (EPS) for the quarter, missing the 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 period in the prior year, the firm earned ($0.90) earnings per share. On average, equities analysts expect that La Jolla Pharmaceutical will post ($4.99) EPS for the current fiscal year.

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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