HC Wainwright Boosts La Jolla Pharmaceutical (NASDAQ:LJPC) Price Target to $27.00

La Jolla Pharmaceutical (NASDAQ:LJPC) had its price target raised by equities research analysts at HC Wainwright from $25.00 to $27.00 in a note issued to investors on Thursday, June 6th, The Fly reports. The brokerage currently has a “positive” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 191.89% from the company’s previous close.

LJPC has been the subject of a number of other research reports. Cowen reiterated a “buy” rating on shares of La Jolla Pharmaceutical in a research 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 objective for the company in a research report on Saturday, May 11th. Finally, ValuEngine downgraded La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. 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’s stock. La Jolla Pharmaceutical presently has an average rating of “Hold” and a consensus target price of $14.96.

Shares of NASDAQ LJPC traded up $0.26 during mid-day trading on Thursday, reaching $9.25. 1,046,468 shares of the company traded hands, compared to its average volume of 3,057,335. The stock has a market cap of $243.62 million, a PE ratio of -1.18 and a beta of 1.71. The company’s fifty day moving average is $7.67. La Jolla Pharmaceutical has a fifty-two week low of $5.01 and a fifty-two week high of $38.39.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its quarterly earnings data on Monday, May 6th. The biopharmaceutical company reported ($1.17) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.31) by $0.14. The business had revenue of $4.40 million for the quarter, compared to analyst estimates of $4.98 million. La Jolla Pharmaceutical had a negative return on equity of 337.55% and a negative net margin of 1,324.04%. On average, sell-side analysts predict that La Jolla Pharmaceutical will post -4.51 EPS for the current year.

Several institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its position in shares of La Jolla Pharmaceutical by 3.3% during the 1st quarter. FMR LLC now owns 4,061,425 shares of the biopharmaceutical company’s stock worth $26,115,000 after buying an additional 128,074 shares during the period. Sectoral Asset Management Inc lifted its position in shares of La Jolla Pharmaceutical by 6.7% during the 4th quarter. Sectoral Asset Management Inc now owns 1,759,171 shares of the biopharmaceutical company’s stock worth $16,589,000 after buying an additional 110,399 shares during the period. BlackRock Inc. lifted its position in shares of La Jolla Pharmaceutical by 1.3% during the 4th quarter. BlackRock Inc. now owns 1,498,561 shares of the biopharmaceutical company’s stock worth $14,132,000 after buying an additional 18,557 shares during the period. Vanguard Group Inc. lifted its position in shares of La Jolla Pharmaceutical by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 980,336 shares of the biopharmaceutical company’s stock worth $19,735,000 after buying an additional 11,083 shares during the period. Finally, Millennium Management LLC bought a new position in shares of La Jolla Pharmaceutical during the 4th quarter worth approximately $4,623,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

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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Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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