La Jolla Pharmaceutical (LJPC) Expected to Post Earnings of -$1.74 Per Share

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Equities analysts expect La Jolla Pharmaceutical (NASDAQ:LJPC) to post earnings per share of ($1.74) for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for La Jolla Pharmaceutical’s earnings. The highest EPS estimate is ($1.29) and the lowest is ($2.05). La Jolla Pharmaceutical also reported earnings per share of ($1.74) in the same quarter last year. The company is expected to announce its next earnings results on Thursday, February 28th.

On average, analysts expect that La Jolla Pharmaceutical will report full-year earnings of ($7.88) per share for the current year, with EPS estimates ranging from ($8.20) to ($7.41). For the next year, analysts forecast that the company will report earnings of ($4.39) per share, with EPS estimates ranging from ($7.31) to ($1.51). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that follow La Jolla Pharmaceutical.

A number of research firms recently issued reports on LJPC. Jefferies Financial Group upgraded shares of La Jolla Pharmaceutical from an “underperform” rating to a “hold” rating and lowered their price objective for the stock from $13.00 to $6.00 in a research report on Monday, January 14th. HC Wainwright reiterated a “buy” rating and issued a $48.00 price target on shares of La Jolla Pharmaceutical in a research note on Thursday, October 25th. ValuEngine upgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Saturday, October 27th. BidaskClub cut shares of La Jolla Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 8th. Finally, Zacks Investment Research cut shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Thursday, January 17th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $30.83.

In other news, Director Kevin C. Tang bought 100,000 shares of La Jolla Pharmaceutical stock in a transaction that occurred on Monday, January 7th. The stock was bought at an average cost of $5.84 per share, with a total value of $584,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Jennifer Carver bought 5,000 shares of La Jolla Pharmaceutical stock in a transaction that occurred on Wednesday, January 9th. The stock was purchased at an average cost of $6.17 per share, with a total value of $30,850.00. Following the completion of the acquisition, the chief operating officer now directly owns 7,632 shares in the company, valued at approximately $47,089.44. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,411,600 shares of company stock worth $7,633,974 in the last 90 days. Company insiders own 25.33% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in La Jolla Pharmaceutical by 24.8% in the second quarter. BlackRock Inc. now owns 1,454,127 shares of the biopharmaceutical company’s stock valued at $42,417,000 after purchasing an additional 288,994 shares during the last quarter. Bank of America Corp DE boosted its holdings in La Jolla Pharmaceutical by 69.5% in the second quarter. Bank of America Corp DE now owns 81,159 shares of the biopharmaceutical company’s stock valued at $2,368,000 after acquiring an additional 33,280 shares during the last quarter. FMR LLC boosted its holdings in La Jolla Pharmaceutical by 1.5% in the second quarter. FMR LLC now owns 3,657,684 shares of the biopharmaceutical company’s stock valued at $106,694,000 after acquiring an additional 54,986 shares during the last quarter. Northern Trust Corp boosted its holdings in La Jolla Pharmaceutical by 19.3% in the second quarter. Northern Trust Corp now owns 298,883 shares of the biopharmaceutical company’s stock valued at $8,719,000 after acquiring an additional 48,382 shares during the last quarter. Finally, First Midwest Bank Trust Division boosted its holdings in La Jolla Pharmaceutical by 296.9% in the third quarter. First Midwest Bank Trust Division now owns 38,008 shares of the biopharmaceutical company’s stock valued at $765,000 after acquiring an additional 28,431 shares during the last quarter.

LJPC stock traded up $0.06 during trading on Tuesday, reaching $5.93. 226,338 shares of the company were exchanged, compared to its average volume of 1,409,939. The stock has a market cap of $148.72 million, a price-to-earnings ratio of -1.10 and a beta of 1.24. La Jolla Pharmaceutical has a twelve month low of $5.01 and a twelve month high of $38.39.

About La Jolla Pharmaceutical

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

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Earnings History and Estimates for La Jolla Pharmaceutical (NASDAQ:LJPC)

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