Zacks Investment Research Downgrades La Jolla Pharmaceutical (LJPC) to Hold

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La Jolla Pharmaceutical (NASDAQ:LJPC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “LA JOLLA PHARMACEUTICAL CO. is engaged in the research and development of therapeutic products for the treatment of autoimmune and inflammatory diseases. “

Other equities research analysts have also issued reports about the company. Cowen reaffirmed a “buy” rating on shares of La Jolla Pharmaceutical in a research note on Tuesday, March 5th. SunTrust Banks lowered their price objective on La Jolla Pharmaceutical to $20.00 and set a “buy” rating for the company in a research note on Friday, January 18th. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price objective on shares of La Jolla Pharmaceutical in a research note on Wednesday, April 24th. ValuEngine raised La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, Jefferies Financial Group raised La Jolla Pharmaceutical from an “underperform” rating to a “hold” rating and lowered their price objective for the company from $13.00 to $6.00 in a research note on Monday, January 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. La Jolla Pharmaceutical presently has a consensus rating of “Hold” and an average price target of $30.63.

Shares of La Jolla Pharmaceutical stock opened at $6.56 on Tuesday. La Jolla Pharmaceutical has a 12 month low of $5.01 and a 12 month high of $38.39. The company has a market cap of $160.70 million, a P/E ratio of -0.84 and a beta of 1.41.

La Jolla Pharmaceutical (NASDAQ:LJPC) last announced its quarterly earnings results on Monday, May 6th. The biopharmaceutical company reported ($1.17) EPS for the quarter, beating analysts’ consensus estimates of ($1.31) by $0.14. The company 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%. On average, equities analysts anticipate that La Jolla Pharmaceutical will post -3.85 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Advisors LLC raised its holdings in shares of La Jolla Pharmaceutical by 6.0% in the third quarter. Teachers Advisors LLC now owns 39,612 shares of the biopharmaceutical company’s stock worth $797,000 after buying an additional 2,249 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of La Jolla Pharmaceutical by 63,657.1% in 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 during the period. Deutsche Bank AG raised its holdings in shares of La Jolla Pharmaceutical by 11.3% in the fourth quarter. Deutsche Bank AG now owns 47,803 shares of the biopharmaceutical company’s stock worth $450,000 after buying an additional 4,859 shares during the period. Bank of Montreal Can raised its holdings in shares of La Jolla Pharmaceutical by 901.3% in the first quarter. Bank of Montreal Can now owns 5,537 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 4,984 shares during the period. Finally, Red Cedar Capital LLC raised its holdings in shares of La Jolla Pharmaceutical by 74.6% in the first quarter. Red Cedar Capital LLC now owns 11,700 shares of the biopharmaceutical company’s stock worth $75,000 after buying an additional 5,000 shares during the period.

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. 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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