Zacks: Brokerages Anticipate La Jolla Pharmaceutical (LJPC) Will Post Quarterly Sales of $5.88 Million

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Equities research analysts expect La Jolla Pharmaceutical (NASDAQ:LJPC) to report $5.88 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for La Jolla Pharmaceutical’s earnings, with the lowest sales estimate coming in at $5.49 million and the highest estimate coming in at $6.15 million. La Jolla Pharmaceutical posted sales of $1.59 million during the same quarter last year, which suggests a positive year over year growth rate of 269.8%. The business is expected to report its next earnings report on Wednesday, August 14th.

On average, analysts expect that La Jolla Pharmaceutical will report full-year sales of $24.69 million for the current fiscal year, with estimates ranging from $23.37 million to $26.00 million. For the next year, analysts forecast that the firm will report sales of $73.57 million, with estimates ranging from $45.27 million to $93.90 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover La Jolla Pharmaceutical.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its quarterly earnings results on Monday, May 6th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.31) by $0.14. La Jolla Pharmaceutical had a negative return on equity of 337.55% and a negative net margin of 1,324.04%. The business had revenue of $4.40 million during the quarter, compared to the consensus estimate of $4.98 million.

LJPC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded La Jolla Pharmaceutical from an “underweight” rating to a “neutral” rating and lowered their price target for the company from $18.00 to $9.00 in a report on Wednesday, January 23rd. Cowen reiterated a “buy” rating on shares of La Jolla Pharmaceutical in a report on Tuesday, March 5th. Zacks Investment Research upgraded La Jolla Pharmaceutical from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a report on Saturday, May 11th. ValuEngine downgraded La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Finally, HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of La Jolla Pharmaceutical in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. La Jolla Pharmaceutical presently has an average rating of “Hold” and an average price target of $30.63.

Shares of NASDAQ LJPC traded down $0.20 during trading on Thursday, reaching $5.51. The stock had a trading volume of 350,005 shares, compared to its average volume of 820,928. La Jolla Pharmaceutical has a one year low of $5.01 and a one year high of $38.39. The company has a market capitalization of $157.71 million, a price-to-earnings ratio of -0.70 and a beta of 1.41.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its stake in La Jolla Pharmaceutical by 63,657.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,463 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 4,456 shares during the last quarter. Bank of Montreal Can grew its stake in La Jolla Pharmaceutical by 901.3% during the 1st quarter. Bank of Montreal Can now owns 5,537 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 4,984 shares during the last quarter. Virtu Financial LLC bought a new position in La Jolla Pharmaceutical during the 1st quarter worth $67,000. Parametric Portfolio Associates LLC bought a new position in La Jolla Pharmaceutical during the 1st quarter worth $68,000. Finally, Jefferies Group LLC bought a new position in La Jolla Pharmaceutical during the 1st quarter worth $74,000.

La Jolla Pharmaceutical Company Profile

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

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