La Jolla Pharmaceutical Company (NASDAQ:LJPC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “LA JOLLA PHARMACEUTICAL CO. is engaged in the research and development of therapeutic products for the treatment of autoimmune and inflammatory diseases. “

Other equities analysts have also recently issued reports about the company. Jefferies Group LLC restated a “buy” rating and set a $40.00 price objective on shares of La Jolla Pharmaceutical in a research note on Tuesday, October 3rd. Chardan Capital restated a “buy” rating and set a $85.00 price objective on shares of La Jolla Pharmaceutical in a research note on Tuesday, August 8th. BidaskClub upgraded La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, J P Morgan Chase & Co initiated coverage on La Jolla Pharmaceutical in a research note on Wednesday, August 30th. They set an “overweight” rating and a $36.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $54.60.

La Jolla Pharmaceutical (NASDAQ:LJPC) opened at 33.94 on Tuesday. The firm’s market capitalization is $750.85 million. La Jolla Pharmaceutical has a one year low of $14.63 and a one year high of $39.28. The company’s 50-day moving average is $34.06 and its 200-day moving average is $30.76.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($1.21) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.09). During the same quarter last year, the company posted ($0.90) earnings per share. Equities analysts forecast that La Jolla Pharmaceutical will post ($4.99) earnings per share for the current fiscal year.

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Several institutional investors have recently made changes to their positions in the company. FMR LLC increased its position in shares of La Jolla Pharmaceutical by 0.6% during the 2nd quarter. FMR LLC now owns 3,313,318 shares of the biopharmaceutical company’s stock valued at $98,637,000 after purchasing an additional 18,883 shares during the last quarter. Jennison Associates LLC increased its position in shares of 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 valued at $61,132,000 after purchasing an additional 285,254 shares during the last quarter. State Street Corp increased its position in shares of 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 valued at $35,140,000 after purchasing an additional 828,081 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of La Jolla Pharmaceutical during the 2nd quarter valued at $25,191,000. Finally, Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 154,494 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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