La Jolla Pharmaceutical (LJPC) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its stake in shares of La Jolla Pharmaceutical (NASDAQ:LJPC) by 9.8% in the third quarter, Holdings Channel reports. The fund owned 27,968 shares of the biopharmaceutical company’s stock after selling 3,027 shares during the quarter. California State Teachers Retirement System’s holdings in La Jolla Pharmaceutical were worth $973,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its position in La Jolla Pharmaceutical by 30.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 28,079 shares of the biopharmaceutical company’s stock worth $836,000 after purchasing an additional 6,500 shares during the period. Rhumbline Advisers raised its position in La Jolla Pharmaceutical by 22.1% in the 2nd quarter. Rhumbline Advisers now owns 20,012 shares of the biopharmaceutical company’s stock worth $596,000 after purchasing an additional 3,618 shares during the period. Bank of New York Mellon Corp raised its position in La Jolla Pharmaceutical by 8.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 82,847 shares of the biopharmaceutical company’s stock worth $2,466,000 after purchasing an additional 6,667 shares during the period. Legal & General Group Plc raised its position in La Jolla Pharmaceutical by 11.6% in the 2nd quarter. Legal & General Group Plc now owns 4,456 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 462 shares during the period. Finally, Wells Fargo & Company MN raised its position in La Jolla Pharmaceutical by 23.0% in the 2nd quarter. Wells Fargo & Company MN now owns 16,937 shares of the biopharmaceutical company’s stock worth $504,000 after purchasing an additional 3,167 shares during the period.

In other La Jolla Pharmaceutical news, Director Laura L. Douglass sold 10,000 shares of the business’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $32.32, for a total value of $323,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jennifer Carver acquired 1,000 shares of the firm’s stock in a transaction on Thursday, December 27th. The stock was purchased at an average price of $33.22 per share, for a total transaction of $33,220.00. Following the transaction, the chief operating officer now directly owns 4,500 shares of the company’s stock, valued at approximately $149,490. The disclosure for this purchase can be found here. 25.47% of the stock is currently owned by insiders.

A number of equities analysts recently commented on the stock. BidaskClub cut shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Cowen reiterated a “buy” rating and issued a $55.00 target price on shares of La Jolla Pharmaceutical in a research report on Friday, October 27th. ValuEngine upgraded shares of La Jolla Pharmaceutical from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 26th. SunTrust Banks set a $65.00 target price on shares of La Jolla Pharmaceutical and gave the stock a “buy” rating in a research report on Thursday, December 28th. Finally, Chardan Capital lifted their target price on shares of La Jolla Pharmaceutical from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. La Jolla Pharmaceutical has an average rating of “Buy” and a consensus target price of $58.57.

La Jolla Pharmaceutical (LJPC) opened at $36.51 on Monday. La Jolla Pharmaceutical has a 52-week low of $16.71 and a 52-week high of $39.28. The stock has a market cap of $808.52, a PE ratio of -7.16 and a beta of 1.63.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($1.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.05. analysts forecast that La Jolla Pharmaceutical will post -4.91 earnings per share for the current fiscal year.

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La Jolla Pharmaceutical Profile

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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Institutional Ownership by Quarter for La Jolla Pharmaceutical (NASDAQ:LJPC)

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