La Jolla Pharmaceutical (LJPC) Earns Buy Rating from HC Wainwright

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La Jolla Pharmaceutical (NASDAQ:LJPC)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued to clients and investors on Thursday, October 25th, The Fly reports. They presently have a $48.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 215.37% from the stock’s current price.

The analysts wrote, “Our valuation is based on our therapeutic models and reflects our assumptions for the product launch dates, product attributes, and pricing, to determine the future revenue streams. We have not yet factored in China.””

Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of La Jolla Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 9th. ValuEngine cut shares of La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Zacks Investment Research raised shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. JPMorgan Chase & Co. lowered their target price on shares of La Jolla Pharmaceutical from $24.00 to $21.00 and set an “underweight” rating on the stock in a research note on Friday, August 10th. Finally, SunTrust Banks set a $45.00 price target on La Jolla Pharmaceutical and gave the stock a “buy” rating in a report on Thursday, August 9th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $51.00.

Shares of NASDAQ LJPC traded down $0.52 during midday trading on Thursday, reaching $15.22. 500,201 shares of the stock were exchanged, compared to its average volume of 519,916. The stock has a market capitalization of $424.46 million, a price-to-earnings ratio of -2.81 and a beta of 1.25. La Jolla Pharmaceutical has a twelve month low of $14.65 and a twelve month high of $41.36.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its quarterly earnings data on Wednesday, October 24th. The biopharmaceutical company reported ($1.93) EPS for the quarter, topping analysts’ consensus estimates of ($2.01) by $0.08. The firm had revenue of $3.47 million for the quarter, compared to analyst estimates of $3.38 million. On average, equities analysts forecast that La Jolla Pharmaceutical will post -7.97 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of LJPC. Scopia Capital Management LP raised its holdings in La Jolla Pharmaceutical by 346.8% in the 2nd quarter. Scopia Capital Management LP now owns 2,583,170 shares of the biopharmaceutical company’s stock valued at $75,351,000 after buying an additional 2,005,025 shares during the period. BlackRock Inc. raised its holdings in La Jolla Pharmaceutical by 24.8% in the 2nd quarter. BlackRock Inc. now owns 1,454,127 shares of the biopharmaceutical company’s stock valued at $42,417,000 after buying an additional 288,994 shares during the period. FMR LLC increased its stake in La Jolla Pharmaceutical by 7.5% during the third quarter. FMR LLC now owns 3,933,641 shares of the biopharmaceutical company’s stock worth $79,184,000 after purchasing an additional 275,957 shares during the period. RTW Investments LP increased its stake in La Jolla Pharmaceutical by 19.9% during the second quarter. RTW Investments LP now owns 1,345,881 shares of the biopharmaceutical company’s stock worth $39,259,000 after purchasing an additional 223,341 shares during the period. Finally, Jennison Associates LLC increased its stake in La Jolla Pharmaceutical by 2.8% during the third quarter. Jennison Associates LLC now owns 3,279,272 shares of the biopharmaceutical company’s stock worth $66,012,000 after purchasing an additional 90,739 shares during the period.

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. It offers GIAPREZA, an injection for intravenous infusion indicated to increase blood pressure in adults with septic or other distributive shock.

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The Fly

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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