La Jolla Pharmaceutical (LJPC) Rating Lowered to Strong Sell at BidaskClub

La Jolla Pharmaceutical (NASDAQ:LJPC) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday.

Other equities research analysts also recently issued reports about the stock. ValuEngine downgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Monday. Jefferies Financial Group lowered their target price on shares of La Jolla Pharmaceutical from $23.00 to $22.00 and set an “underperform” rating on the stock in a research note on Thursday, August 9th. Zacks Investment Research raised shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Thursday, September 27th. HC Wainwright reaffirmed a “buy” rating and issued a $53.00 target price on shares of La Jolla Pharmaceutical in a research note on Friday, September 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of La Jolla Pharmaceutical from $24.00 to $21.00 and set an “underweight” rating on the stock in a research report on Friday, August 10th. Four analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $50.00.

Shares of LJPC opened at $17.96 on Tuesday. The company has a market capitalization of $527.93 million, a P/E ratio of -3.32 and a beta of 1.39. La Jolla Pharmaceutical has a 1-year low of $17.08 and a 1-year high of $41.36.

La Jolla Pharmaceutical (NASDAQ:LJPC) last announced its earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($2.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.95) by ($0.07). The company had revenue of $1.59 million for the quarter, compared to analyst estimates of $2.48 million. As a group, equities analysts anticipate that La Jolla Pharmaceutical will post -8.16 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in La Jolla Pharmaceutical during the first quarter valued at approximately $134,000. Metropolitan Life Insurance Co. NY grew its position in La Jolla Pharmaceutical by 42.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 8,699 shares of the biopharmaceutical company’s stock valued at $254,000 after acquiring an additional 2,594 shares during the last quarter. WINTON GROUP Ltd bought a new position in La Jolla Pharmaceutical during the first quarter valued at approximately $276,000. First Midwest Bank Trust Division bought a new position in La Jolla Pharmaceutical during the second quarter valued at approximately $279,000. Finally, Fox Run Management L.L.C. bought a new position in La Jolla Pharmaceutical during the second quarter valued at approximately $284,000.

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. It offers GIAPREZA, an injection for intravenous infusion indicated to increase blood pressure in adults with septic or other distributive shock.

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Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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