Brokerages Set La Jolla Pharmaceutical (NASDAQ:LJPC) PT at $16.40

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La Jolla Pharmaceutical (NASDAQ:LJPC) has earned a consensus rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $15.50.

Several equities analysts have recently commented on the company. Chardan Capital set a $20.00 target price on La Jolla Pharmaceutical and gave the company a “buy” rating in a report on Monday, June 24th. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, HC Wainwright boosted their price objective on La Jolla Pharmaceutical from $25.00 to $27.00 and gave the stock a “positive” rating in a research report on Thursday, June 6th.

Large investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its holdings in shares of La Jolla Pharmaceutical by 63,657.1% during the first quarter. BNP Paribas Arbitrage SA now owns 4,463 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 4,456 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in shares of La Jolla Pharmaceutical during the first quarter valued at approximately $32,000. Bank of Montreal Can grew its stake in shares of La Jolla Pharmaceutical by 901.3% during the first quarter. Bank of Montreal Can now owns 5,537 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 4,984 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of La Jolla Pharmaceutical during the first quarter valued at approximately $67,000. Finally, Red Cedar Capital LLC grew its stake in shares of La Jolla Pharmaceutical by 74.6% during the first quarter. Red Cedar Capital LLC now owns 11,700 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 5,000 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors.

Shares of NASDAQ LJPC traded up $0.24 during midday trading on Tuesday, reaching $9.58. 260,734 shares of the company’s stock were exchanged, compared to its average volume of 575,202. The company has a market capitalization of $259.61 million, a PE ratio of -1.22 and a beta of 2.20. La Jolla Pharmaceutical has a 52-week low of $5.01 and a 52-week high of $38.39. The stock’s fifty day moving average price is $8.60.

La Jolla Pharmaceutical (NASDAQ:LJPC) last announced its quarterly earnings data on Monday, May 6th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.31) by $0.14. The firm had revenue of $4.40 million during the quarter, compared to analyst estimates of $4.98 million. La Jolla Pharmaceutical had a negative return on equity of 337.55% and a negative net margin of 1,324.04%. As a group, sell-side analysts predict that La Jolla Pharmaceutical will post -4.51 earnings per share for the current fiscal year.

About La Jolla Pharmaceutical

La Jolla Pharmaceutical Company, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for life-threatening diseases. The company offers GIAPREZA (angiotensin II), 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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