HC Wainwright Begins Coverage on La Jolla Pharmaceutical (NASDAQ:LJPC)

Analysts at HC Wainwright assumed coverage on shares of La Jolla Pharmaceutical (NASDAQ:LJPC) in a research report issued on Thursday, December 21st, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $62.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 103.55% from the company’s previous close.

Several other equities research analysts also recently issued reports on LJPC. JPMorgan Chase & Co. assumed coverage on La Jolla Pharmaceutical in a research note on Wednesday, August 30th. They issued an “overweight” rating and a $36.00 price objective for the company. Jefferies Group reaffirmed a “buy” rating and set a $40.00 price target on shares of La Jolla Pharmaceutical in a research note on Tuesday, October 3rd. Zacks Investment Research downgraded La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Cowen reaffirmed a “buy” rating and set a $55.00 price target on shares of La Jolla Pharmaceutical in a research note on Friday, October 27th. Finally, ValuEngine downgraded La Jolla Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Three analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. La Jolla Pharmaceutical currently has an average rating of “Hold” and a consensus price target of $57.14.

La Jolla Pharmaceutical (LJPC) opened at $30.46 on Thursday. La Jolla Pharmaceutical has a 1 year low of $16.71 and a 1 year high of $39.28.

La Jolla Pharmaceutical (NASDAQ:LJPC) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($1.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.24) by $0.05. equities research analysts expect that La Jolla Pharmaceutical will post -4.91 EPS for the current fiscal year.

In other news, COO Jennifer Carver acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, December 27th. The shares were bought at an average price of $33.22 per share, with a total value of $33,220.00. Following the acquisition, the chief operating officer now owns 4,500 shares of the company’s stock, valued at $149,490. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Laura L. Douglass sold 10,000 shares of La Jolla Pharmaceutical stock in a transaction that occurred on Saturday, December 29th. The stock was sold at an average price of $32.32, for a total value of $323,200.00. Following the sale, the director now directly owns 6,000 shares in the company, valued at approximately $193,920. The disclosure for this sale can be found here. 25.47% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of LJPC. Vanguard Group Inc. lifted its position in shares of La Jolla Pharmaceutical by 26.4% during the 1st quarter. Vanguard Group Inc. now owns 662,285 shares of the biopharmaceutical company’s stock worth $19,769,000 after buying an additional 138,155 shares during the period. Credit Suisse AG bought a new position in shares of La Jolla Pharmaceutical during the 1st quarter worth approximately $391,000. Schwab Charles Investment Management Inc. lifted its position in shares of La Jolla Pharmaceutical by 30.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 28,079 shares of the biopharmaceutical company’s stock worth $836,000 after buying an additional 6,500 shares during the period. Rhumbline Advisers lifted its position in shares of La Jolla Pharmaceutical by 22.1% during the 2nd quarter. Rhumbline Advisers now owns 20,012 shares of the biopharmaceutical company’s stock worth $596,000 after buying an additional 3,618 shares during the period. Finally, State of Wisconsin Investment Board bought a new position in shares of La Jolla Pharmaceutical during the 2nd quarter worth approximately $387,000.

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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).

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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