RTW Investments LP Sells 929,071 Shares of La Jolla Pharmaceutical (LJPC)

RTW Investments LP decreased its stake in La Jolla Pharmaceutical (NASDAQ:LJPC) by 77.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 268,036 shares of the biopharmaceutical company’s stock after selling 929,071 shares during the period. RTW Investments LP owned 1.02% of La Jolla Pharmaceutical worth $2,528,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Credit Suisse AG increased its stake in shares of La Jolla Pharmaceutical by 155.4% in the third quarter. Credit Suisse AG now owns 43,546 shares of the biopharmaceutical company’s stock valued at $877,000 after buying an additional 26,499 shares during the period. Virtus ETF Advisers LLC increased its stake in shares of La Jolla Pharmaceutical by 56.0% in the fourth quarter. Virtus ETF Advisers LLC now owns 23,806 shares of the biopharmaceutical company’s stock valued at $224,000 after buying an additional 8,545 shares during the period. Emory University increased its stake in shares of La Jolla Pharmaceutical by 26.8% in the fourth quarter. Emory University now owns 149,013 shares of the biopharmaceutical company’s stock valued at $1,405,000 after buying an additional 31,537 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of La Jolla Pharmaceutical in the third quarter valued at about $21,014,000. Finally, FMR LLC increased its stake in shares of La Jolla Pharmaceutical by 7.5% in the third quarter. FMR LLC now owns 3,933,641 shares of the biopharmaceutical company’s stock valued at $79,184,000 after buying an additional 275,957 shares during the period.

NASDAQ:LJPC traded down $0.22 on Monday, hitting $6.54. The stock had a trading volume of 8,223 shares, compared to its average volume of 884,724. The firm has a market cap of $183.06 million, a P/E ratio of -0.85 and a beta of 1.30. La Jolla Pharmaceutical has a 52 week low of $5.01 and a 52 week high of $38.39.

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

LJPC has been the subject of several recent research reports. SunTrust Banks decreased their price target on La Jolla Pharmaceutical to $20.00 and set a “buy” rating for the company in a research note on Friday, January 18th. Cowen reissued a “buy” rating on shares of La Jolla Pharmaceutical in a research note on Tuesday, March 5th. HC Wainwright cut their target price on La Jolla Pharmaceutical to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, January 9th. Zacks Investment Research upgraded La Jolla Pharmaceutical from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Wednesday, December 26th. Finally, Jefferies Financial Group upgraded La Jolla Pharmaceutical from an “underperform” rating to a “hold” rating and cut their target price for the company from $13.00 to $6.00 in a research report on Monday, January 14th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $30.83.

In other news, major shareholder Life Sciences Maste Perceptive sold 2,060,235 shares of the firm’s stock in a transaction that occurred on Tuesday, January 8th. The stock was sold at an average price of $5.69, for a total value of $11,722,737.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kevin C. Tang bought 100,000 shares of the company’s stock in a transaction dated Monday, January 7th. The stock was bought at an average price of $5.84 per share, for a total transaction of $584,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 1,411,600 shares of company stock worth $7,633,974. Corporate insiders own 25.33% of the company’s stock.

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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.

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

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