La Jolla Pharmaceutical (LJPC) Cut to Strong Sell at ValuEngine

ValuEngine cut shares of La Jolla Pharmaceutical (NASDAQ:LJPC) from a sell rating to a strong sell rating in a research note issued to investors on Thursday morning.

A number of other equities analysts have also recently commented on the stock. Chardan Capital lifted their target price on shares of La Jolla Pharmaceutical from $90.00 to $100.00 and gave the company a buy rating in a report on Thursday, January 25th. HC Wainwright lifted their price objective on shares of La Jolla Pharmaceutical from $62.00 to $91.00 and gave the company a buy rating in a research report on Friday, December 29th. SunTrust Banks set a $65.00 price objective on shares of La Jolla Pharmaceutical and gave the company a buy rating in a research report on Thursday, December 28th. JPMorgan Chase reiterated a sell rating on shares of La Jolla Pharmaceutical in a research report on Friday, December 22nd. Finally, Jefferies Group lowered shares of La Jolla Pharmaceutical from a buy rating to an underperform rating and lowered their price objective for the company from $40.00 to $29.00 in a research report on Monday, February 12th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $55.86.

How to Become a New Pot Stock Millionaire

Shares of La Jolla Pharmaceutical stock opened at $30.80 on Thursday. La Jolla Pharmaceutical has a 12 month low of $22.68 and a 12 month high of $41.36.

La Jolla Pharmaceutical (NASDAQ:LJPC) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.74) EPS for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.49). equities analysts forecast that La Jolla Pharmaceutical will post -4.94 EPS for the current year.

In other news, major shareholder Perceptive Advisors Llc acquired 700,000 shares of the stock in a transaction that occurred on Thursday, March 15th. The shares were purchased at an average cost of $29.50 per share, for a total transaction of $20,650,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Life Sciences Maste Perceptive acquired 175,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was purchased at an average price of $32.72 per share, for a total transaction of $5,726,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 1,544,474 shares of company stock worth $46,485,863. 25.47% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of LJPC. Perceptive Advisors LLC boosted its position in shares of La Jolla Pharmaceutical by 57.1% during the 4th quarter. Perceptive Advisors LLC now owns 3,388,611 shares of the biopharmaceutical company’s stock worth $109,046,000 after purchasing an additional 1,231,600 shares in the last quarter. Sectoral Asset Management Inc boosted its position in shares of La Jolla Pharmaceutical by 42.0% during the 4th quarter. Sectoral Asset Management Inc now owns 854,301 shares of the biopharmaceutical company’s stock worth $27,491,000 after purchasing an additional 252,801 shares in the last quarter. Ascend Capital LLC purchased a new stake in shares of La Jolla Pharmaceutical during the 4th quarter worth $6,084,000. Stanley Laman Group Ltd. purchased a new stake in shares of La Jolla Pharmaceutical during the 4th quarter worth $5,427,000. Finally, Jennison Associates LLC boosted its position in shares of La Jolla Pharmaceutical by 8.2% during the 4th quarter. Jennison Associates LLC now owns 2,220,482 shares of the biopharmaceutical company’s stock worth $71,455,000 after purchasing an additional 167,635 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “La Jolla Pharmaceutical (LJPC) Cut to Strong Sell at ValuEngine” was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this story on another domain, it was copied illegally and republished in violation of United States and international copyright laws. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/04/22/la-jolla-pharmaceutical-ljpc-cut-to-strong-sell-at-valuengine.html.

La Jolla Pharmaceutical Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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