La Jolla Pharmaceutical (LJPC) Hits New 52-Week Low at $13.50

La Jolla Pharmaceutical (NASDAQ:LJPC)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $13.50 and last traded at $14.06, with a volume of 6790 shares traded. The stock had previously closed at $14.14.

A number of equities analysts have commented on the stock. BidaskClub downgraded shares of La Jolla Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Saturday. ValuEngine raised shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Friday, November 2nd. HC Wainwright reaffirmed a “buy” rating and set a $48.00 target price on shares of La Jolla Pharmaceutical in a research note on Thursday, October 25th. Finally, Zacks Investment Research raised shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $51.00.

The stock has a market cap of $365.96 million, a price-to-earnings ratio of -2.55 and a beta of 1.33.

La Jolla Pharmaceutical (NASDAQ:LJPC) last announced its quarterly earnings results on Wednesday, October 24th. The biopharmaceutical company reported ($1.93) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.08. The company had revenue of $3.47 million for the quarter, compared to analyst estimates of $3.38 million. On average, sell-side analysts predict that La Jolla Pharmaceutical will post -7.97 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in LJPC. Metropolitan Life Insurance Co. NY increased its position in shares of 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. MetLife Investment Advisors LLC increased its position in shares of La Jolla Pharmaceutical by 42.8% during the second quarter. MetLife Investment Advisors LLC now owns 12,259 shares of the biopharmaceutical company’s stock valued at $358,000 after acquiring an additional 3,674 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of La Jolla Pharmaceutical by 27.2% during the second quarter. State Board of Administration of Florida Retirement System now owns 14,575 shares of the biopharmaceutical company’s stock valued at $425,000 after acquiring an additional 3,120 shares during the last quarter. Employees Retirement System of Texas acquired a new stake in shares of La Jolla Pharmaceutical during the second quarter valued at about $525,000. Finally, Rhumbline Advisers increased its position in shares of La Jolla Pharmaceutical by 25.2% during the second quarter. Rhumbline Advisers now owns 19,855 shares of the biopharmaceutical company’s stock valued at $579,000 after acquiring an additional 3,995 shares during the last quarter.

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La Jolla Pharmaceutical Company Profile (NASDAQ:LJPC)

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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