La Jolla Pharmaceutical (LJPC) Trading Up 0%

Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) were up 0% on Thursday . The stock traded as high as $30.30 and last traded at $30.20. Approximately 557,352 shares were traded during mid-day trading, an increase of 31% from the average daily volume of 426,083 shares. The stock had previously closed at $30.20.

Several analysts recently weighed in on LJPC shares. Jefferies Group reaffirmed a “buy” rating and issued a $40.00 target price on shares of La Jolla Pharmaceutical in a report on Tuesday, October 3rd. Chardan Capital reaffirmed a “buy” rating and issued a $90.00 target price on shares of La Jolla Pharmaceutical in a report on Friday, December 22nd. SunTrust Banks reaffirmed a “buy” rating and issued a $65.00 target price (down previously from $67.00) on shares of La Jolla Pharmaceutical in a report on Friday, December 22nd. HC Wainwright started coverage on shares of La Jolla Pharmaceutical in a report on Thursday, December 21st. They issued a “buy” rating and a $62.00 target price on the stock. Finally, Zacks Investment Research raised shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. La Jolla Pharmaceutical presently has an average rating of “Hold” and an average price target of $57.14.

The stock has a market cap of $668.79, a P/E ratio of -6.12 and a beta of 1.63.

La Jolla Pharmaceutical (NASDAQ:LJPC) last announced its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.19) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.24) by $0.05. research analysts predict that La Jolla Pharmaceutical will post -4.91 earnings per share for the current year.

In related news, COO Jennifer Carver purchased 1,000 shares of the company’s stock in a transaction on Wednesday, December 27th. The shares were bought at an average cost of $33.22 per share, for a total transaction of $33,220.00. Following the completion of the purchase, the chief operating officer now directly owns 4,500 shares of the company’s stock, valued at approximately $149,490. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Laura L. Douglass sold 10,000 shares of the stock in a transaction that occurred on Saturday, December 29th. The shares were sold at an average price of $32.32, for a total transaction of $323,200.00. Following the completion of the transaction, the director now owns 6,000 shares in the company, valued at $193,920. The disclosure for this sale can be found here. Corporate insiders own 25.47% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. FMR LLC grew its position in shares of La Jolla Pharmaceutical by 0.6% during the second quarter. FMR LLC now owns 3,313,318 shares of the biopharmaceutical company’s stock worth $98,637,000 after acquiring an additional 18,883 shares during the last quarter. State Street Corp grew its position in shares of La Jolla Pharmaceutical by 235.1% during the second quarter. State Street Corp now owns 1,180,368 shares of the biopharmaceutical company’s stock worth $35,140,000 after acquiring an additional 828,081 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of La Jolla Pharmaceutical during the second quarter worth approximately $25,191,000. Vanguard Group Inc. grew its position in shares of La Jolla Pharmaceutical by 23.3% during the second quarter. Vanguard Group Inc. now owns 816,779 shares of the biopharmaceutical company’s stock worth $24,316,000 after acquiring an additional 154,494 shares during the last quarter. Finally, Redmile Group LLC grew its position in shares of La Jolla Pharmaceutical by 18.0% during the second quarter. Redmile Group LLC now owns 713,280 shares of the biopharmaceutical company’s stock worth $21,234,000 after acquiring an additional 108,810 shares during the last quarter.

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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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