La Jolla Pharmaceutical Company (LJPC) Rating Lowered to Sell at Zacks Investment Research

La Jolla Pharmaceutical Company (NASDAQ:LJPC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “LA JOLLA PHARMACEUTICAL CO. is engaged in the research and development of therapeutic products for the treatment of autoimmune and inflammatory diseases. “

Other equities research analysts also recently issued research reports about the stock. Jefferies Group LLC restated a “buy” rating and issued a $40.00 target price on shares of La Jolla Pharmaceutical in a research note on Tuesday, October 3rd. Chardan Capital restated a “buy” rating and issued a $85.00 target price on shares of La Jolla Pharmaceutical in a research note on Tuesday, August 8th. BidaskClub upgraded shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, J P Morgan Chase & Co started coverage on shares of La Jolla Pharmaceutical in a research note on Wednesday, August 30th. They issued an “overweight” rating and a $36.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $54.60.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.12) by ($0.09). During the same quarter in the prior year, the business posted ($0.90) EPS.

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Several institutional investors have recently added to or reduced their stakes in LJPC. Janus Henderson Group PLC bought a new position in shares of La Jolla Pharmaceutical in the second quarter valued at about $25,191,000. State Street Corp raised its holdings in shares of La Jolla Pharmaceutical by 235.1% in the second quarter. State Street Corp now owns 1,180,368 shares of the biopharmaceutical company’s stock valued at $35,140,000 after buying an additional 828,081 shares during the last quarter. Perceptive Advisors LLC raised its holdings in shares of La Jolla Pharmaceutical by 62.2% in the first quarter. Perceptive Advisors LLC now owns 2,139,274 shares of the biopharmaceutical company’s stock valued at $63,857,000 after buying an additional 820,000 shares during the last quarter. Redmile Group LLC bought a new position in shares of La Jolla Pharmaceutical in the first quarter valued at about $18,043,000. Finally, FMR LLC raised its holdings in shares of La Jolla Pharmaceutical by 20.3% in the first quarter. FMR LLC now owns 3,294,435 shares of the biopharmaceutical company’s stock valued at $98,339,000 after buying an additional 556,334 shares during the last quarter.

About La Jolla Pharmaceutical

La Jolla Pharmaceutical Company is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapies to improve outcomes in patients suffering from life-threatening diseases. LJPC-501 is its formulation of angiotensin II for the potential treatment of catecholamine-resistant hypotension (CRH).

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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