La Jolla Pharmaceutical (LJPC) Price Target Lowered to $22.00 at Jefferies Financial Group

La Jolla Pharmaceutical (NASDAQ:LJPC) had its price target cut by Jefferies Financial Group from $23.00 to $22.00 in a research report report published on Thursday. They currently have an underperform rating on the biopharmaceutical company’s stock.

LJPC has been the subject of a number of other research reports. HC Wainwright restated a buy rating and issued a $83.00 target price (up previously from $72.00) on shares of La Jolla Pharmaceutical in a research report on Friday, May 11th. ValuEngine cut La Jolla Pharmaceutical from a buy rating to a hold rating in a research note on Friday, June 29th. SunTrust Banks set a $45.00 price target on La Jolla Pharmaceutical and gave the stock a buy rating in a research note on Thursday. Zacks Investment Research raised La Jolla Pharmaceutical from a sell rating to a hold rating in a research note on Tuesday, April 17th. Finally, BidaskClub raised La Jolla Pharmaceutical from a hold rating to a buy rating in a research note on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. La Jolla Pharmaceutical currently has an average rating of Hold and an average price target of $50.00.

NASDAQ:LJPC traded down $1.27 during mid-day trading on Thursday, reaching $23.20. The stock had a trading volume of 1,472,970 shares, compared to its average volume of 538,159. La Jolla Pharmaceutical has a one year low of $22.68 and a one year high of $41.36.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($2.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.95) by ($0.07). The company had revenue of $1.59 million during the quarter, compared to the consensus estimate of $2.48 million. equities analysts forecast that La Jolla Pharmaceutical will post -7.44 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tang Capital Management LLC increased 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 acquiring an additional 698,474 shares during the period. FMR LLC increased its holdings in La Jolla Pharmaceutical by 1.5% in the second quarter. FMR LLC now owns 3,657,684 shares of the biopharmaceutical company’s stock valued at $106,694,000 after buying an additional 54,986 shares during the last quarter. Jennison Associates LLC increased its holdings in La Jolla Pharmaceutical by 1.6% in the second quarter. Jennison Associates LLC now owns 3,188,533 shares of the biopharmaceutical company’s stock valued at $93,010,000 after buying an additional 51,471 shares during the last quarter. BlackRock Inc. increased its holdings in La Jolla Pharmaceutical by 24.8% in the second 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 last quarter. Finally, Scopia Capital Management LP purchased a new position in La Jolla Pharmaceutical in the first quarter valued at $17,217,000.

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.

See Also: Outstanding Shares

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

Receive News & Ratings for La Jolla Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La Jolla Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply