La Jolla Pharmaceutical (NASDAQ:LJPC) gapped up before the market opened on Friday . The stock had previously closed at $27.51, but opened at $30.02. La Jolla Pharmaceutical shares last traded at $29.27, with a volume of 433061 shares.
A number of brokerages recently commented on LJPC. Zacks Investment Research cut La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. Cowen reaffirmed a “buy” rating and set a $55.00 price objective on shares of La Jolla Pharmaceutical in a research note on Friday, December 22nd. BidaskClub raised La Jolla Pharmaceutical from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 21st. Jefferies Group cut La Jolla Pharmaceutical from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $40.00 to $29.00 in a research note on Monday, February 12th. Finally, ValuEngine raised La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. La Jolla Pharmaceutical currently has an average rating of “Hold” and a consensus price target of $57.00.
The company has a market cap of $661.50, a price-to-earnings ratio of -5.46 and a beta of 1.30.
La Jolla Pharmaceutical (NASDAQ:LJPC) last posted its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.25) by ($0.49). equities analysts forecast that La Jolla Pharmaceutical will post -5 earnings per share for the current year.
In other La Jolla Pharmaceutical news, Director Laura L. Douglass sold 10,000 shares of La Jolla Pharmaceutical stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $32.32, for a total transaction of $323,200.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at $193,920. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jennifer Carver bought 1,000 shares of La Jolla Pharmaceutical stock in a transaction on Wednesday, December 27th. The shares were acquired at an average price of $33.22 per share, for a total transaction of $33,220.00. Following the completion of the acquisition, the chief operating officer now owns 4,500 shares of the company’s stock, valued at approximately $149,490. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 338,000 shares of company stock worth $10,902,320. Corporate insiders own 25.47% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Jane Street Group LLC bought a new stake in shares of La Jolla Pharmaceutical in the third quarter valued at about $200,000. Trexquant Investment LP bought a new stake in shares of La Jolla Pharmaceutical in the third quarter valued at about $217,000. Voya Investment Management LLC bought a new stake in shares of La Jolla Pharmaceutical in the second quarter valued at about $243,000. Calton & Associates Inc. bought a new stake in shares of La Jolla Pharmaceutical in the fourth quarter valued at about $266,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of La Jolla Pharmaceutical in the fourth quarter valued at about $276,000.
COPYRIGHT VIOLATION WARNING: This news story was originally posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are reading this news story on another domain, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this news story can be read at https://www.thelincolnianonline.com/2018/03/16/la-jolla-pharmaceutical-ljpc-shares-gap-up-to-30-02.html.
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).
Receive News & Ratings for La Jolla Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La Jolla Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.