Wells Fargo & Company MN Sells 2,144 Shares of La Jolla Pharmaceutical (NASDAQ:LJPC)

Wells Fargo & Company MN lessened its holdings in La Jolla Pharmaceutical (NASDAQ:LJPC) by 10.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,990 shares of the biopharmaceutical company’s stock after selling 2,144 shares during the quarter. Wells Fargo & Company MN owned 0.07% of La Jolla Pharmaceutical worth $175,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LJPC. BNP Paribas Arbitrage SA lifted its position in shares of La Jolla Pharmaceutical by 63,657.1% in the first quarter. BNP Paribas Arbitrage SA now owns 4,463 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 4,456 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in shares of La Jolla Pharmaceutical in the first quarter worth $32,000. Marshall Wace LLP raised its position in La Jolla Pharmaceutical by 99.6% during the first quarter. Marshall Wace LLP now owns 144,977 shares of the biopharmaceutical company’s stock worth $933,000 after acquiring an additional 72,339 shares in the last quarter. Marshall Wace North America L.P. raised its position in La Jolla Pharmaceutical by 24,222.0% during the first quarter. Marshall Wace North America L.P. now owns 375,046 shares of the biopharmaceutical company’s stock worth $2,412,000 after acquiring an additional 373,504 shares in the last quarter. Finally, FMR LLC raised its position in La Jolla Pharmaceutical by 3.3% during the first quarter. FMR LLC now owns 4,061,425 shares of the biopharmaceutical company’s stock worth $26,115,000 after acquiring an additional 128,074 shares in the last quarter.

Several analysts have issued reports on the stock. BidaskClub lowered shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Friday, September 27th. ValuEngine raised shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered shares of La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Chardan Capital reaffirmed a “buy” rating on shares of La Jolla Pharmaceutical in a research report on Thursday, August 15th. Finally, HC Wainwright set a $27.00 price target on shares of La Jolla Pharmaceutical and gave the stock a “buy” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. La Jolla Pharmaceutical presently has an average rating of “Hold” and an average target price of $15.50.

NASDAQ LJPC opened at $8.40 on Friday. The firm’s fifty day moving average price is $9.70 and its two-hundred day moving average price is $8.46. La Jolla Pharmaceutical has a 1 year low of $5.01 and a 1 year high of $18.44.

La Jolla Pharmaceutical (NASDAQ:LJPC) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ 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 firm had revenue of $5.70 million for the quarter, compared to analyst estimates of $5.76 million. Equities research analysts anticipate that La Jolla Pharmaceutical will post -4.39 EPS for the current year.

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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