HC Wainwright Boosts La Jolla Pharmaceutical (LJPC) Price Target to $91.00

La Jolla Pharmaceutical (NASDAQ:LJPC) had its price target increased by HC Wainwright from $62.00 to $91.00 in a research note issued to investors on Friday. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently issued reports on LJPC. Zacks Investment Research cut shares of La Jolla Pharmaceutical from a hold rating to a sell rating in a research note on Tuesday, October 10th. Jefferies Group reaffirmed a buy rating and set a $40.00 target price on shares of La Jolla Pharmaceutical in a research note on Tuesday, October 3rd. ValuEngine raised shares of La Jolla Pharmaceutical from a strong sell rating to a sell rating in a research report on Tuesday, December 26th. BidaskClub raised shares of La Jolla Pharmaceutical from a sell rating to a hold rating in a research report on Wednesday, December 27th. Finally, SunTrust Banks set a $65.00 price target on shares of La Jolla Pharmaceutical and gave the company a buy rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $57.14.

Shares of La Jolla Pharmaceutical (LJPC) opened at $32.18 on Friday. La Jolla Pharmaceutical has a one year low of $16.71 and a one year high of $39.28. The stock has a market cap of $712.63, a price-to-earnings ratio of -6.31 and a beta of 1.63.

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 consensus estimate of ($1.24) by $0.05. research analysts predict that La Jolla Pharmaceutical will post -4.91 earnings per share for the current year.

In related news, COO Jennifer Carver bought 1,000 shares of the firm’s stock in a transaction on Thursday, December 27th. The shares were bought at an average price of $33.22 per share, with a total value of $33,220.00. Following the completion of the transaction, the chief operating officer now directly owns 4,500 shares of the company’s stock, valued at approximately $149,490. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 25.47% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of LJPC. Janus Henderson Group PLC acquired a new position in La Jolla Pharmaceutical in the second quarter valued at about $25,191,000. State Street Corp lifted its position in La Jolla Pharmaceutical by 235.1% in the second quarter. State Street Corp now owns 1,180,368 shares of the biopharmaceutical company’s stock valued at $35,140,000 after buying an additional 828,081 shares during the last quarter. Sectoral Asset Management Inc lifted its position in La Jolla Pharmaceutical by 649.6% in the second quarter. Sectoral Asset Management Inc now owns 589,959 shares of the biopharmaceutical company’s stock valued at $17,563,000 after buying an additional 511,259 shares during the last quarter. Oak Ridge Investments LLC acquired a new position in La Jolla Pharmaceutical in the third quarter valued at about $14,642,000. Finally, Pictet Asset Management Ltd. acquired a new position in La Jolla Pharmaceutical in the third quarter valued at about $13,266,000.

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La Jolla Pharmaceutical Company 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).

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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