La Jolla Pharmaceutical (NASDAQ:LJPC) Shares Down 9.5%

La Jolla Pharmaceutical (NASDAQ:LJPC)’s share price was down 9.5% on Monday . The company traded as low as $6.68 and last traded at $7.06, approximately 690,166 shares traded hands during mid-day trading. A decline of 17% from the average daily volume of 830,100 shares. The stock had previously closed at $7.80.

A number of analysts have recently weighed in on LJPC shares. Zacks Investment Research cut shares of La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. ValuEngine upgraded shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Chardan Capital restated a “buy” rating on shares of La Jolla Pharmaceutical in a research note on Thursday, August 15th. HC Wainwright set a $27.00 price objective on shares of La Jolla Pharmaceutical and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, BidaskClub cut shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $15.50.

The stock’s 50-day moving average is $9.18 and its 200-day moving average is $8.58. The firm has a market cap of $212.51 million, a P/E ratio of -0.90 and a beta of 2.14.

La Jolla Pharmaceutical (NASDAQ:LJPC) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($1.12). La Jolla Pharmaceutical had a negative net margin of 891.53% and a negative return on equity of 715.12%. The business had revenue of $5.70 million for the quarter, compared to analyst estimates of $5.76 million. Analysts expect that La Jolla Pharmaceutical will post -4.39 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in LJPC. Bank of Montreal Can increased its holdings in La Jolla Pharmaceutical by 27.2% in the 2nd quarter. Bank of Montreal Can now owns 7,043 shares of the biopharmaceutical company’s stock valued at $65,000 after buying an additional 1,506 shares during the period. Northern Trust Corp increased its holdings in La Jolla Pharmaceutical by 0.7% in the 2nd quarter. Northern Trust Corp now owns 276,154 shares of the biopharmaceutical company’s stock valued at $2,555,000 after buying an additional 1,880 shares during the period. Parametric Portfolio Associates LLC increased its holdings in La Jolla Pharmaceutical by 25.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,236 shares of the biopharmaceutical company’s stock valued at $122,000 after buying an additional 2,693 shares during the period. Morgan Stanley increased its holdings in La Jolla Pharmaceutical by 0.7% in the 2nd quarter. Morgan Stanley now owns 420,862 shares of the biopharmaceutical company’s stock valued at $3,893,000 after buying an additional 2,780 shares during the period. Finally, Calton & Associates Inc. bought a new stake in La Jolla Pharmaceutical in the 2nd quarter valued at $100,000.

La Jolla Pharmaceutical Company Profile (NASDAQ:LJPC)

La Jolla Pharmaceutical Company, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for life-threatening diseases. The company offers GIAPREZA (angiotensin II), an injection for intravenous infusion indicated to increase blood pressure in adults with septic or other distributive shock.

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