Zacks: Analysts Expect La Jolla Pharmaceutical (NASDAQ:LJPC) Will Announce Earnings of -$0.77 Per Share

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Equities research analysts expect La Jolla Pharmaceutical (NASDAQ:LJPC) to report earnings of ($0.77) per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for La Jolla Pharmaceutical’s earnings. La Jolla Pharmaceutical posted earnings of ($1.12) per share during the same quarter last year, which indicates a positive year over year growth rate of 31.3%. The firm is expected to report its next earnings report on Thursday, August 6th.

On average, analysts expect that La Jolla Pharmaceutical will report full year earnings of ($2.00) per share for the current year, with EPS estimates ranging from ($2.35) to ($1.65). For the next year, analysts expect that the company will post earnings of ($1.64) per share, with EPS estimates ranging from ($2.76) to ($1.02). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for La Jolla Pharmaceutical.

La Jolla Pharmaceutical (NASDAQ:LJPC) last announced its earnings results on Monday, May 4th. The biopharmaceutical company reported ($0.32) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.92) by $0.60. The firm had revenue of $7.59 million for the quarter, compared to the consensus estimate of $8.50 million.

Several research firms have issued reports on LJPC. Ci Capital reiterated a “buy” rating and set a $8.00 price objective on shares of La Jolla Pharmaceutical in a research report on Wednesday, June 24th. ValuEngine upgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Friday, May 1st. Finally, Zacks Investment Research upgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.00.

La Jolla Pharmaceutical stock opened at $4.39 on Friday. La Jolla Pharmaceutical has a 1 year low of $2.30 and a 1 year high of $11.41. The firm’s 50 day moving average price is $5.75 and its two-hundred day moving average price is $5.98.

In other La Jolla Pharmaceutical news, Director Kevin C. Tang acquired 253,553 shares of La Jolla Pharmaceutical stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average price of $4.88 per share, with a total value of $1,237,338.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kevin C. Tang acquired 615,129 shares of La Jolla Pharmaceutical stock in a transaction that occurred on Thursday, June 4th. The stock was acquired at an average cost of $5.01 per share, with a total value of $3,081,796.29. The disclosure for this purchase can be found here. 33.39% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in LJPC. BNP Paribas Arbitrage SA lifted its position in La Jolla Pharmaceutical by 112.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,372 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 3,378 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of La Jolla Pharmaceutical by 74.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,000 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 2,981 shares during the last quarter. RMR Wealth Builders acquired a new position in shares of La Jolla Pharmaceutical during the fourth quarter valued at about $31,000. Tower Research Capital LLC TRC raised its position in shares of La Jolla Pharmaceutical by 14,898.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,399 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 8,343 shares during the last quarter. Finally, Gabelli Funds LLC acquired a new position in shares of La Jolla Pharmaceutical during the fourth quarter valued at about $39,000. 79.25% of the stock is owned by hedge funds and other institutional investors.

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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