Zacks Investment Research cut shares of La Jolla Pharmaceutical (NASDAQ:LJPC) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.
According to Zacks, “LA JOLLA PHARMACEUTICAL CO. is engaged in the research and development of therapeutic products for the treatment of autoimmune and inflammatory diseases. “
Other equities analysts have also recently issued research reports about the company. HC Wainwright initiated coverage on La Jolla Pharmaceutical in a report on Thursday, December 21st. They issued a buy rating and a $62.00 target price for the company. Cowen reiterated a buy rating and issued a $55.00 target price on shares of La Jolla Pharmaceutical in a report on Friday, October 27th. Chardan Capital restated a buy rating and set a $90.00 price objective on shares of La Jolla Pharmaceutical in a report on Friday, December 22nd. SunTrust Banks restated a buy rating and set a $65.00 price objective (down previously from $67.00) on shares of La Jolla Pharmaceutical in a report on Friday, December 22nd. Finally, BidaskClub upgraded La Jolla Pharmaceutical from a hold rating to a buy rating in a report on Friday, February 9th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $57.00.
La Jolla Pharmaceutical (NASDAQ LJPC) opened at $33.87 on Thursday. The company has a market capitalization of $750.05, a P/E ratio of -6.64 and a beta of 1.20. La Jolla Pharmaceutical has a 1-year low of $16.71 and a 1-year high of $41.36.
In other La Jolla Pharmaceutical news, major shareholder Life Sciences Maste Perceptive acquired 175,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was bought at an average price of $32.72 per share, for a total transaction of $5,726,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Laura L. Douglass sold 10,000 shares of the business’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $32.32, for a total value of $323,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 177,000 shares of company stock valued at $5,792,440. 25.47% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of LJPC. Jane Street Group LLC purchased a new position in La Jolla Pharmaceutical during the 3rd quarter valued at $200,000. Trexquant Investment LP bought a new stake in La Jolla Pharmaceutical during the 3rd quarter valued at $217,000. Voya Investment Management LLC bought a new stake in La Jolla Pharmaceutical during the 2nd quarter valued at $243,000. Calton & Associates Inc. bought a new stake in La Jolla Pharmaceutical during the 4th quarter valued at $266,000. Finally, MetLife Investment Advisors LLC bought a new stake in La Jolla Pharmaceutical during the 4th quarter valued at $276,000.
About La Jolla Pharmaceutical
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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