Brokerages expect La Jolla Pharmaceutical (NASDAQ:LJPC) to report $2.03 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for La Jolla Pharmaceutical’s earnings, with estimates ranging from $600,000.00 to $3.50 million. The company is scheduled to issue its next quarterly earnings report on Thursday, July 26th.
On average, analysts expect that La Jolla Pharmaceutical will report full-year sales of $19.48 million for the current fiscal year, with estimates ranging from $5.76 million to $31.40 million. For the next year, analysts expect that the firm will post sales of $110.69 million per share, with estimates ranging from $44.32 million to $187.70 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for La Jolla Pharmaceutical.
La Jolla Pharmaceutical (NASDAQ:LJPC) last posted its quarterly earnings data on Thursday, May 10th. The biopharmaceutical company reported ($2.22) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.48) by ($0.74). The firm had revenue of $0.81 million during the quarter.
A number of analysts have recently commented on the company. Zacks Investment Research downgraded La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Thursday. ValuEngine raised La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. BidaskClub downgraded La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Jefferies Group downgraded La Jolla Pharmaceutical from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $40.00 to $29.00 in a research note on Monday, February 12th. Finally, Chardan Capital boosted their price objective on La Jolla Pharmaceutical from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. 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. La Jolla Pharmaceutical currently has a consensus rating of “Hold” and a consensus target price of $55.86.
LJPC opened at $33.16 on Friday. La Jolla Pharmaceutical has a one year low of $32.17 and a one year high of $32.82. The firm has a market capitalization of $842.17 million, a PE ratio of -6.13 and a beta of 1.42.
In related news, Director Kevin C. Tang bought 150,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were bought at an average cost of $31.82 per share, with a total value of $4,773,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Perceptive Advisors Llc bought 700,000 shares of the business’s stock in a transaction dated Thursday, March 15th. The shares were bought at an average cost of $29.50 per share, for a total transaction of $20,650,000.00. The disclosure for this purchase can be found here. Insiders have bought 1,369,474 shares of company stock worth $40,759,863 over the last ninety days. 25.47% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Tang Capital Management LLC raised its position in shares of La Jolla Pharmaceutical by 20.3% during the first quarter. Tang Capital Management LLC now owns 4,138,893 shares of the biopharmaceutical company’s stock worth $123,256,000 after purchasing an additional 698,474 shares during the period. Cowen Inc. acquired a new stake in shares of La Jolla Pharmaceutical during the first quarter worth $1,193,000. Highland Capital Management LP acquired a new stake in shares of La Jolla Pharmaceutical during the first quarter worth $759,000. Scopia Capital Management LP acquired a new stake in shares of La Jolla Pharmaceutical during the first quarter worth $17,217,000. Finally, Rock Springs Capital Management LP acquired a new stake in shares of La Jolla Pharmaceutical during the first quarter worth $6,552,000.
About La Jolla Pharmaceutical
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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