La Jolla Pharmaceutical (NASDAQ:LJPC) to Post FY2019 Earnings of ($4.46) Per Share, SunTrust Banks Forecasts

La Jolla Pharmaceutical (NASDAQ:LJPC) – Stock analysts at SunTrust Banks dropped their FY2019 earnings per share estimates for shares of La Jolla Pharmaceutical in a research note issued on Wednesday, November 13th. SunTrust Banks analyst J. Lee now forecasts that the biopharmaceutical company will earn ($4.46) per share for the year, down from their previous estimate of ($4.42). SunTrust Banks also issued estimates for La Jolla Pharmaceutical’s Q4 2019 earnings at ($1.09) EPS and FY2020 earnings at ($2.69) EPS.

La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($1.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.05) by ($0.03). The company had revenue of $5.71 million during the quarter, compared to analysts’ expectations of $6.96 million. La Jolla Pharmaceutical had a negative return on equity of 2,032.71% and a negative net margin of 683.88%.

A number of other research analysts also recently issued reports on the company. BidaskClub downgraded La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Chardan Capital restated a “buy” rating on shares of La Jolla Pharmaceutical in a report on Thursday, August 15th. ValuEngine upgraded La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. HC Wainwright reduced their price target on La Jolla Pharmaceutical from $27.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, Zacks Investment Research downgraded La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. La Jolla Pharmaceutical has an average rating of “Hold” and a consensus target price of $14.17.

LJPC opened at $6.02 on Monday. The company has a market cap of $164.30 million, a P/E ratio of -0.77 and a beta of 2.07. The business’s 50-day moving average price is $7.96 and its 200-day moving average price is $8.55. La Jolla Pharmaceutical has a 12 month low of $5.01 and a 12 month high of $16.44.

A number of institutional investors have recently bought and sold shares of LJPC. Sio Capital Management LLC bought a new stake in La Jolla Pharmaceutical during the 2nd quarter valued at approximately $12,121,000. Boxer Capital LLC bought a new stake in La Jolla Pharmaceutical during the 2nd quarter valued at approximately $5,319,000. SG Americas Securities LLC boosted its position in La Jolla Pharmaceutical by 394.8% during the 3rd quarter. SG Americas Securities LLC now owns 375,986 shares of the biopharmaceutical company’s stock valued at $3,309,000 after acquiring an additional 299,995 shares in the last quarter. VHCP Management III LLC boosted its position in La Jolla Pharmaceutical by 24.7% during the 2nd quarter. VHCP Management III LLC now owns 1,251,898 shares of the biopharmaceutical company’s stock valued at $11,580,000 after acquiring an additional 248,298 shares in the last quarter. Finally, Rock Springs Capital Management LP boosted its position in La Jolla Pharmaceutical by 53.3% during the 2nd quarter. Rock Springs Capital Management LP now owns 425,000 shares of the biopharmaceutical company’s stock valued at $3,931,000 after acquiring an additional 147,764 shares in the last quarter.

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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Earnings History and Estimates for La Jolla Pharmaceutical (NASDAQ:LJPC)

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