La Jolla Pharmaceutical (NASDAQ:LJPC) Director Kevin C. Tang bought 2,971,682 shares of the business’s stock in a transaction on Monday, January 13th. The stock was bought at an average cost of $7.00 per share, with a total value of $20,801,774.00.

NASDAQ LJPC traded up $1.00 during trading hours on Monday, hitting $7.00. 3,633,490 shares of the company’s stock traded hands, compared to its average volume of 1,680,728. The business’s fifty day moving average price is $3.78 and its two-hundred day moving average price is $7.50. The firm has a market capitalization of $190.10 million, a P/E ratio of -0.89 and a beta of 2.05. La Jolla Pharmaceutical has a 52 week low of $2.30 and a 52 week high of $13.90.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($1.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.05) by ($0.03). La Jolla Pharmaceutical had a negative return on equity of 715.11% and a negative net margin of 683.88%. The business had revenue of $5.71 million during the quarter, compared to the consensus estimate of $6.96 million. As a group, equities analysts predict that La Jolla Pharmaceutical will post -4.39 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of LJPC. Bank of Montreal Can increased its stake in shares of La Jolla Pharmaceutical by 27.2% in the 2nd quarter. Bank of Montreal Can now owns 7,043 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 1,506 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of La Jolla Pharmaceutical by 25.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,236 shares of the biopharmaceutical company’s stock valued at $122,000 after purchasing an additional 2,693 shares during the last quarter. Trellus Management Company LLC lifted its position in La Jolla Pharmaceutical by 127.1% in the third quarter. Trellus Management Company LLC now owns 26,845 shares of the biopharmaceutical company’s stock worth $236,000 after buying an additional 15,024 shares during the last quarter. Virtus ETF Advisers LLC bought a new stake in shares of La Jolla Pharmaceutical in the 2nd quarter worth about $254,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of La Jolla Pharmaceutical by 26.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 126,698 shares of the biopharmaceutical company’s stock valued at $1,172,000 after buying an additional 26,194 shares during the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.

LJPC has been the topic of several research analyst reports. ValuEngine cut La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a report on Friday. SunTrust Banks lowered La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a report on Monday, November 25th. HC Wainwright cut La Jolla Pharmaceutical from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 26th. Finally, BidaskClub downgraded La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.17.

About La Jolla Pharmaceutical

La Jolla Pharmaceutical Company, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for life-threatening diseases. The company offers GIAPREZA (angiotensin II), an injection for intravenous infusion indicated to increase blood pressure in adults with septic or other distributive shock.

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