La Jolla Pharmaceutical (NASDAQ:LJPC) Trading 19.6% Higher

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La Jolla Pharmaceutical (NASDAQ:LJPC)’s share price was up 19.6% on Wednesday . The company traded as high as $3.39 and last traded at $3.35, approximately 2,930,655 shares were traded during mid-day trading. An increase of 241% from the average daily volume of 858,840 shares. The stock had previously closed at $2.80.

Several analysts have issued reports on LJPC shares. SunTrust Banks lowered shares of La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. HC Wainwright downgraded shares of La Jolla Pharmaceutical from a “buy” rating to a “neutral” rating in a report on Tuesday, November 26th. Chardan Capital reaffirmed a “buy” rating on shares of La Jolla Pharmaceutical in a research report on Thursday, August 15th. Zacks Investment Research cut shares of La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, BidaskClub downgraded La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.17.

The firm has a market capitalization of $74.41 million, a P/E ratio of -0.42 and a beta of 1.84. The business has a 50-day moving average price of $6.03 and a 200-day moving average price of $8.22.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.03). The firm had revenue of $5.71 million during the quarter, compared to analyst estimates of $6.96 million. La Jolla Pharmaceutical had a negative net margin of 683.88% and a negative return on equity of 715.11%. On average, analysts expect that La Jolla Pharmaceutical will post -4.43 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. Bank of Montreal Can raised its stake in shares of La Jolla Pharmaceutical by 27.2% in the 2nd quarter. Bank of Montreal Can now owns 7,043 shares of the biopharmaceutical company’s stock valued at $65,000 after buying an additional 1,506 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of La Jolla Pharmaceutical by 25.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,236 shares of the biopharmaceutical company’s stock valued at $122,000 after acquiring an additional 2,693 shares in the last quarter. Trexquant Investment LP increased its stake in La Jolla Pharmaceutical by 97.1% in the second quarter. Trexquant Investment LP now owns 22,482 shares of the biopharmaceutical company’s stock valued at $208,000 after acquiring an additional 11,074 shares during the period. Trellus Management Company LLC increased its stake in La Jolla Pharmaceutical by 127.1% in the third quarter. Trellus Management Company LLC now owns 26,845 shares of the biopharmaceutical company’s stock valued at $236,000 after acquiring an additional 15,024 shares during the period. Finally, Virtus ETF Advisers LLC acquired a new position in La Jolla Pharmaceutical in the second quarter worth about $254,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

La Jolla Pharmaceutical Company Profile (NASDAQ:LJPC)

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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