La Jolla Pharmaceutical Target of Unusually High Options Trading (NASDAQ:LJPC)

La Jolla Pharmaceutical (NASDAQ:LJPC) saw unusually large options trading on Friday. Stock traders purchased 1,676 put options on the stock. This is an increase of Infinity compared to the average volume of 0 put options.

A number of hedge funds have recently modified their holdings of LJPC. Legal & General Group Plc increased its holdings in shares of La Jolla Pharmaceutical by 11.6% during the second quarter. Legal & General Group Plc now owns 4,456 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 462 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of La Jolla Pharmaceutical during the third quarter valued at approximately $200,000. Trexquant Investment LP bought a new stake in shares of La Jolla Pharmaceutical during the third quarter valued at approximately $217,000. Voya Investment Management LLC bought a new stake in shares of La Jolla Pharmaceutical during the second quarter valued at approximately $243,000. Finally, American International Group Inc. increased its holdings in shares of La Jolla Pharmaceutical by 7.1% during the first quarter. American International Group Inc. now owns 8,571 shares of the biopharmaceutical company’s stock valued at $256,000 after acquiring an additional 568 shares in the last quarter.

Several analysts have recently issued reports on the company. ValuEngine lowered La Jolla Pharmaceutical from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. Zacks Investment Research raised La Jolla Pharmaceutical from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Wednesday, November 1st. Cowen reissued a “buy” rating and set a $55.00 price target on shares of La Jolla Pharmaceutical in a research note on Friday, October 27th. Jefferies Group reissued a “buy” rating and set a $40.00 price target on shares of La Jolla Pharmaceutical in a research note on Tuesday, October 3rd. Finally, J P Morgan Chase & Co initiated coverage on La Jolla Pharmaceutical in a research note on Wednesday, August 30th. They set an “overweight” rating and a $36.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. La Jolla Pharmaceutical presently has a consensus rating of “Buy” and an average target price of $52.00.

Shares of La Jolla Pharmaceutical (NASDAQ:LJPC) traded up $1.24 on Thursday, hitting $32.07. The stock had a trading volume of 240,881 shares, compared to its average volume of 438,903. La Jolla Pharmaceutical has a 52 week low of $16.41 and a 52 week high of $39.28.

La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.24) by $0.05. research analysts predict that La Jolla Pharmaceutical will post -4.93 EPS for the current fiscal year.

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La Jolla Pharmaceutical Company Profile

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).

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