La Jolla Pharmaceutical Company (NASDAQ:LJPC) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of La Jolla Pharmaceutical Company (NASDAQ:LJPC) from a buy rating to a hold rating in a research report released on Tuesday, July 18th.

According to Zacks, “LA JOLLA PHARMACEUTICAL CO. is engaged in the research and development of therapeutic products for the treatment of autoimmune and inflammatory diseases. “

A number of other analysts have also weighed in on LJPC. Chardan Capital set a $34.00 price objective on shares of La Jolla Pharmaceutical and gave the company a buy rating in a research note on Monday, May 22nd. SunTrust Banks, Inc. reiterated a buy rating and issued a $57.00 price target on shares of La Jolla Pharmaceutical in a research note on Monday, May 22nd. Noble Financial reiterated a buy rating on shares of La Jolla Pharmaceutical in a research note on Sunday, April 30th. ValuEngine upgraded shares of La Jolla Pharmaceutical from a sell rating to a hold rating in a research note on Friday, June 2nd. Finally, Cowen and Company reiterated a buy rating and issued a $55.00 price target on shares of La Jolla Pharmaceutical in a research note on Friday, April 28th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $51.67.

Shares of La Jolla Pharmaceutical (LJPC) traded up 1.39% during midday trading on Tuesday, reaching $30.57. 141,077 shares of the company’s stock were exchanged. The stock’s market capitalization is $676.30 million. The firm has a 50-day moving average of $31.59 and a 200-day moving average of $28.78. La Jolla Pharmaceutical has a 12-month low of $14.63 and a 12-month high of $39.28.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($1.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by $0.09. La Jolla Pharmaceutical had a negative net margin of 12,692.37% and a negative return on equity of 91.66%. During the same quarter in the prior year, the business earned ($0.90) EPS. Analysts anticipate that La Jolla Pharmaceutical will post ($4.96) EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This article was first reported by BNB Daily and is the sole property of of BNB Daily. If you are reading this article on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://www.baseball-news-blog.com/2017/08/13/la-jolla-pharmaceutical-company-nasdaqljpc-lowered-to-hold-at-zacks-investment-research-updated-updated-updated.html.

A number of hedge funds have recently made changes to their positions in LJPC. Jennison Associates LLC raised its stake in shares of La Jolla Pharmaceutical by 586.1% in the first quarter. Jennison Associates LLC now owns 1,768,213 shares of the biopharmaceutical company’s stock valued at $52,781,000 after buying an additional 1,510,504 shares during the period. Perceptive Advisors LLC raised its stake in shares of La Jolla Pharmaceutical by 62.2% in the first quarter. Perceptive Advisors LLC now owns 2,139,274 shares of the biopharmaceutical company’s stock valued at $63,857,000 after buying an additional 820,000 shares during the period. Redmile Group LLC acquired a new stake in shares of La Jolla Pharmaceutical during the first quarter valued at about $18,043,000. FMR LLC raised its stake in shares of La Jolla Pharmaceutical by 20.3% in the first quarter. FMR LLC now owns 3,294,435 shares of the biopharmaceutical company’s stock valued at $98,339,000 after buying an additional 556,334 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of La Jolla Pharmaceutical during the first quarter valued at about $8,008,000.

About La Jolla Pharmaceutical

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).

Get a free copy of the Zacks research report on La Jolla Pharmaceutical (LJPC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

Receive News & Ratings for La Jolla Pharmaceutical Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La Jolla Pharmaceutical Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply