Jane Street Group LLC Invests $134,000 in La Jolla Pharmaceutical (LJPC) Stock

Jane Street Group LLC bought a new position in shares of La Jolla Pharmaceutical (NASDAQ:LJPC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 14,218 shares of the biopharmaceutical company’s stock, valued at approximately $134,000. Jane Street Group LLC owned 0.05% of La Jolla Pharmaceutical at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LJPC. Metropolitan Life Insurance Co. NY increased its stake in shares of La Jolla Pharmaceutical by 357.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,699 shares of the biopharmaceutical company’s stock worth $82,000 after acquiring an additional 6,797 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of La Jolla Pharmaceutical in the 4th quarter worth about $206,000. Bank of America Corp DE increased its stake in shares of La Jolla Pharmaceutical by 10.6% in the 4th quarter. Bank of America Corp DE now owns 55,946 shares of the biopharmaceutical company’s stock worth $527,000 after acquiring an additional 5,353 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of La Jolla Pharmaceutical by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 227,484 shares of the biopharmaceutical company’s stock worth $2,145,000 after acquiring an additional 7,370 shares in the last quarter. Finally, Sectoral Asset Management Inc increased its stake in shares of La Jolla Pharmaceutical by 6.7% in the 4th quarter. Sectoral Asset Management Inc now owns 1,759,171 shares of the biopharmaceutical company’s stock worth $16,589,000 after acquiring an additional 110,399 shares in the last quarter.

Several brokerages recently issued reports on LJPC. Jefferies Financial Group upgraded shares of La Jolla Pharmaceutical from an “underperform” rating to a “hold” rating and decreased their price target for the stock from $13.00 to $6.00 in a research note on Monday, January 14th. Zacks Investment Research lowered shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Thursday, January 17th. ValuEngine upgraded shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. BidaskClub upgraded shares of La Jolla Pharmaceutical from a “strong sell” rating to a “sell” rating in a research note on Monday, January 7th. Finally, SunTrust Banks decreased their price target on shares of La Jolla Pharmaceutical to $20.00 and set a “buy” rating for the company in a research note on Friday, January 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.83.

NASDAQ:LJPC opened at $7.15 on Friday. The stock has a market cap of $193.59 million, a price-to-earnings ratio of -0.91 and a beta of 1.32. La Jolla Pharmaceutical has a fifty-two week low of $5.01 and a fifty-two week high of $38.39.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings data on Monday, March 4th. The biopharmaceutical company reported ($1.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.74) by $0.01. The business had revenue of $4.18 million during the quarter, compared to analyst estimates of $4.20 million. La Jolla Pharmaceutical had a negative net margin of 1,983.58% and a negative return on equity of 223.23%. On average, equities research analysts predict that La Jolla Pharmaceutical will post -3.99 earnings per share for the current year.

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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. 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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Institutional Ownership by Quarter for La Jolla Pharmaceutical (NASDAQ:LJPC)

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