La Jolla Pharmaceutical (NASDAQ:LJPC) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Thursday, February 15th.
Other equities research analysts also recently issued research reports about the company. ValuEngine raised La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research downgraded La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a report on Thursday, February 15th. Cowen reaffirmed a “buy” rating and set a $55.00 target price on shares of La Jolla Pharmaceutical in a report on Friday, October 27th. Jefferies Group downgraded La Jolla Pharmaceutical from a “buy” rating to an “underperform” rating and cut their target price for the stock from $40.00 to $29.00 in a report on Monday, February 12th. Finally, Chardan Capital lifted their target price on La Jolla Pharmaceutical from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Four research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $57.00.
Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) opened at $34.71 on Thursday. La Jolla Pharmaceutical has a twelve month low of $22.68 and a twelve month high of $41.36. The firm has a market capitalization of $768.66, a price-to-earnings ratio of -6.43 and a beta of 1.29.
In other La Jolla Pharmaceutical news, Director Kevin C. Tang acquired 10,000 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were bought at an average cost of $30.44 per share, with a total value of $304,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kevin C. Tang acquired 150,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was acquired at an average cost of $31.82 per share, for a total transaction of $4,773,000.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 338,000 shares of company stock worth $10,902,320 over the last ninety days. Company insiders own 25.47% of the company’s stock.
Large investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in shares of La Jolla Pharmaceutical in the 3rd quarter valued at about $200,000. Trexquant Investment LP acquired a new position in shares of La Jolla Pharmaceutical in the 3rd quarter valued at about $217,000. Calton & Associates Inc. acquired a new position in shares of La Jolla Pharmaceutical in the 4th quarter valued at about $266,000. Voya Investment Management LLC acquired a new position in shares of La Jolla Pharmaceutical in the 2nd quarter valued at about $243,000. Finally, MetLife Investment Advisors LLC acquired a new position in shares of La Jolla Pharmaceutical in the 4th quarter valued at about $276,000.
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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).
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