Jefferies Group LLC Reiterates Buy Rating for La Jolla Pharmaceutical Company (LJPC)
La Jolla Pharmaceutical Company (NASDAQ:LJPC)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Group LLC in a note issued to investors on Tuesday. They currently have a $40.00 price target on the biopharmaceutical company’s stock. Jefferies Group LLC’s price objective would suggest a potential upside of 15.56% from the stock’s current price.
Several other research firms also recently commented on LJPC. Zacks Investment Research downgraded La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. BidaskClub upgraded La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Chardan Capital restated a “buy” rating and set a $85.00 target price on shares of La Jolla Pharmaceutical in a report on Tuesday, August 8th. Finally, J P Morgan Chase & Co initiated coverage on La Jolla Pharmaceutical in a research report on Wednesday, August 30th. They set an “overweight” rating and a $36.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. La Jolla Pharmaceutical currently has a consensus rating of “Buy” and an average price target of $51.00.
Shares of La Jolla Pharmaceutical (LJPC) traded down 3.418% during midday trading on Tuesday, hitting $34.615. The stock had a trading volume of 294,805 shares. The stock’s market cap is $765.79 million. La Jolla Pharmaceutical has a 1-year low of $14.63 and a 1-year high of $39.28. The firm’s 50-day moving average price is $32.47 and its 200-day moving average price is $30.74.
La Jolla Pharmaceutical (NASDAQ:LJPC) last posted 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). During the same quarter last year, the firm posted ($0.90) EPS. Analysts forecast that La Jolla Pharmaceutical will post ($4.99) earnings per share for the current year.
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Several large investors have recently modified their holdings of the company. Legal & General Group Plc boosted its holdings in shares of La Jolla Pharmaceutical by 11.6% during the second 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 during the period. SG Americas Securities LLC purchased a new position in La Jolla Pharmaceutical during the 1st quarter valued at about $195,000. Voya Investment Management LLC purchased a new position in La Jolla Pharmaceutical during the 2nd quarter valued at about $243,000. American International Group Inc. increased its holdings 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 valued at $256,000 after purchasing an additional 568 shares during the period. Finally, State Board of Administration of Florida Retirement System purchased a new position in La Jolla Pharmaceutical during the 1st quarter valued at about $271,000.
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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