La Jolla Pharmaceutical (NASDAQ:LJPC – Get Rating) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.
Separately, TheStreet raised shares of La Jolla Pharmaceutical from a “d+” rating to a “c-” rating in a report on Friday, July 29th.
La Jolla Pharmaceutical Trading Down 0.5 %
Shares of La Jolla Pharmaceutical stock traded down $0.03 during trading hours on Wednesday, reaching $6.17. 1,482,763 shares of the company’s stock were exchanged, compared to its average volume of 156,619. The company has a 50 day moving average of $4.94 and a two-hundred day moving average of $4.43. La Jolla Pharmaceutical has a fifty-two week low of $3.07 and a fifty-two week high of $6.22. The stock has a market cap of $153.79 million, a P/E ratio of 41.13 and a beta of 2.39.
La Jolla Pharmaceutical (NASDAQ:LJPC – Get Rating) last issued its earnings results on Monday, May 16th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.16). The firm had revenue of $10.43 million during the quarter, compared to the consensus estimate of $13.10 million. La Jolla Pharmaceutical had a net margin of 10.08% and a negative return on equity of 7.27%. As a group, analysts expect that La Jolla Pharmaceutical will post 0.04 earnings per share for the current fiscal year.
Institutional Investors Weigh In On La Jolla Pharmaceutical
A number of institutional investors and hedge funds have recently modified their holdings of LJPC. HealthInvest Partners AB raised its holdings in La Jolla Pharmaceutical by 78.9% in the 2nd quarter. HealthInvest Partners AB now owns 1,265,000 shares of the biopharmaceutical company’s stock valued at $4,035,000 after acquiring an additional 558,000 shares during the period. Acadian Asset Management LLC raised its holdings in La Jolla Pharmaceutical by 18.3% in the 4th quarter. Acadian Asset Management LLC now owns 435,387 shares of the biopharmaceutical company’s stock valued at $2,023,000 after acquiring an additional 67,219 shares during the period. Globeflex Capital L P raised its holdings in La Jolla Pharmaceutical by 242.6% in the 4th quarter. Globeflex Capital L P now owns 92,799 shares of the biopharmaceutical company’s stock valued at $432,000 after acquiring an additional 65,710 shares during the period. OLD National Bancorp IN bought a new position in La Jolla Pharmaceutical in the 2nd quarter valued at about $132,000. Finally, Renaissance Technologies LLC raised its holdings in La Jolla Pharmaceutical by 120.3% in the 2nd quarter. Renaissance Technologies LLC now owns 57,500 shares of the biopharmaceutical company’s stock valued at $183,000 after acquiring an additional 31,400 shares during the period. 97.06% of the stock is owned by institutional investors.
La Jolla Pharmaceutical Company Profile
La Jolla Pharmaceutical Company engages in the development and commercialization of therapies that improve outcomes in patients suffering from life-threatening diseases. The company offers GIAPREZA, a vasoconstrictor indicated to increase blood pressure in adults with septic or other distributive shock; and XERAVA, a tetracycline class antibacterial indicated for the treatment of complicated intra-abdominal infections in patients 18 years of age and older.