La Jolla Pharmaceutical (LJPC) Receives $68.00 Average PT from Analysts

La Jolla Pharmaceutical (NASDAQ:LJPC) has been assigned a consensus recommendation of “Hold” from the ten analysts that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $66.40.

A number of equities analysts have recently weighed in on LJPC shares. ValuEngine cut shares of La Jolla Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. JPMorgan Chase & Co. cut shares of La Jolla Pharmaceutical from an “overweight” rating to an “underweight” rating and set a $20.00 price target on the stock. in a research report on Friday, December 8th. BidaskClub cut shares of La Jolla Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Friday, December 15th. HC Wainwright assumed coverage on shares of La Jolla Pharmaceutical in a research report on Thursday, December 21st. They set a “buy” rating and a $62.00 price target on the stock. Finally, SunTrust Banks restated a “buy” rating and set a $65.00 price objective (down from $67.00) on shares of La Jolla Pharmaceutical in a report on Friday, December 22nd.

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In other La Jolla Pharmaceutical news, Director Kevin C. Tang purchased 508,474 shares of the stock in a transaction on Thursday, March 15th. The shares were purchased at an average cost of $29.50 per share, for a total transaction of $14,999,983.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jennifer Carver purchased 1,000 shares of the stock in a transaction on Wednesday, December 27th. The stock was acquired at an average price 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 in the company, valued at approximately $149,490. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 846,474 shares of company stock worth $25,902,303. 25.47% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in La Jolla Pharmaceutical in the 3rd quarter valued at $200,000. Trexquant Investment LP acquired a new stake in La Jolla Pharmaceutical in the 3rd quarter valued at $217,000. Calton & Associates Inc. acquired a new stake in La Jolla Pharmaceutical in the 4th quarter valued at $266,000. MetLife Investment Advisors LLC acquired a new stake in La Jolla Pharmaceutical in the 4th quarter valued at $276,000. Finally, GSA Capital Partners LLP acquired a new stake in La Jolla Pharmaceutical in the 3rd quarter valued at $309,000.

Shares of LJPC stock traded down $0.20 during midday trading on Wednesday, hitting $28.45. 310,309 shares of the stock were exchanged, compared to its average volume of 713,606. The company has a market capitalization of $747.12, a PE ratio of -5.27 and a beta of 1.30. La Jolla Pharmaceutical has a 52 week low of $22.68 and a 52 week high of $41.36.

La Jolla Pharmaceutical (NASDAQ:LJPC) last announced its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.49). research analysts expect that La Jolla Pharmaceutical will post -5 earnings per share for the current fiscal year.

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La Jolla Pharmaceutical Company Profile

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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