Swiss National Bank continued to hold its position in shares of La Jolla Pharmaceutical Co. (NASDAQ:LJPC) during the second quarter, Holdings Channel reports. The firm owned 24,400 shares of the biopharmaceutical company’s stock at the end of the second quarter. Swiss National Bank owned about 0.13% of La Jolla Pharmaceutical worth $390,000 at the end of the most recent reporting period.
Separately, Sabby Management LLC boosted its position in shares of La Jolla Pharmaceutical by 72.2% in the first quarter. Sabby Management LLC now owns 112,184 shares of the biopharmaceutical company’s stock valued at $2,346,000 after buying an additional 47,026 shares during the last quarter. Institutional investors and hedge funds own 87.52% of the company’s stock.
La Jolla Pharmaceutical Co. (NASDAQ:LJPC) traded down 2.43% during midday trading on Wednesday, reaching $18.05. The company had a trading volume of 11,718 shares. La Jolla Pharmaceutical Co. has a 12 month low of $12.68 and a 12 month high of $35.95. The firm’s 50-day moving average price is $21.63 and its 200 day moving average price is $18.64. The firm’s market capitalization is $329.48 million.
La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.99) by $0.09. La Jolla Pharmaceutical had a negative return on equity of 49.08% and a negative net margin of 3,520.34%. Equities analysts anticipate that La Jolla Pharmaceutical Co. will post ($3.72) earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on LJPC shares. SunTrust Banks Inc. started coverage on La Jolla Pharmaceutical in a research note on Wednesday, June 22nd. They issued a “buy” rating and a $30.00 price objective for the company. Zacks Investment Research upgraded La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Cowen and Company set a $40.00 price objective on La Jolla Pharmaceutical and gave the company a “buy” rating in a research note on Thursday, September 8th. Finally, Chardan Capital set a $80.00 price objective on La Jolla Pharmaceutical and gave the company a “buy” rating in a research note on Thursday, September 8th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $38.83.
In related news, Director Kevin C. Tang bought 139,035 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were acquired at an average cost of $19.82 per share, for a total transaction of $2,755,673.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 26.43% of the company’s stock.
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. It is engaged in the research, development and commercialization of its technologies and drug candidates for pharmaceutical products.
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