La Jolla Pharmaceutical Company (LJPC) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of La Jolla Pharmaceutical Company (NASDAQ:LJPC) from a sell rating to a hold rating in a research report released on Tuesday, October 17th.

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 equities analysts have also issued reports on LJPC. BidaskClub upgraded shares of La Jolla Pharmaceutical from a sell rating to a hold rating in a research report on Wednesday, August 9th. Chardan Capital restated a buy rating and issued a $85.00 price objective on shares of La Jolla Pharmaceutical in a report on Tuesday, August 8th. Jefferies Group LLC restated a buy rating and issued a $40.00 price objective on shares of La Jolla Pharmaceutical in a report on Tuesday, July 25th. Finally, J P Morgan Chase & Co assumed coverage on shares of La Jolla Pharmaceutical in a report on Wednesday, August 30th. They issued an overweight rating and a $36.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $52.00.

Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) traded up $0.33 during mid-day trading on Tuesday, hitting $35.38. 70,569 shares of the stock were exchanged, compared to its average volume of 212,795. 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 announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.19) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.24) by $0.05. research analysts anticipate that La Jolla Pharmaceutical will post -4.94 EPS for the current fiscal year.

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Several hedge funds have recently modified their holdings of the company. Legal & General Group Plc increased its position in shares of La Jolla Pharmaceutical by 11.6% during the second quarter. Legal & General Group Plc now owns 4,456 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 462 shares in the last quarter. American International Group Inc. increased its position in shares of La Jolla Pharmaceutical by 7.1% during the first quarter. American International Group Inc. now owns 8,571 shares of the biopharmaceutical company’s stock worth $256,000 after acquiring an additional 568 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of La Jolla Pharmaceutical by 20.4% during the second quarter. Nationwide Fund Advisors now owns 9,952 shares of the biopharmaceutical company’s stock worth $296,000 after acquiring an additional 1,688 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of La Jolla Pharmaceutical by 19.2% during the second quarter. The Manufacturers Life Insurance Company now owns 13,397 shares of the biopharmaceutical company’s stock worth $399,000 after acquiring an additional 2,162 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of La Jolla Pharmaceutical by 23.0% during the second quarter. Wells Fargo & Company MN now owns 16,937 shares of the biopharmaceutical company’s stock worth $504,000 after acquiring an additional 3,167 shares in the last quarter.

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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