La Jolla Pharmaceutical (NASDAQ:LJPC) was downgraded by equities research analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, November 26th, Marketbeat reports.
Several other equities research analysts have also commented on LJPC. SunTrust Banks lowered shares of La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Zacks Investment Research downgraded La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. ValuEngine raised La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. BidaskClub lowered La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Finally, Chardan Capital reiterated a “buy” rating on shares of La Jolla Pharmaceutical in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $14.17.
LJPC stock traded down $0.12 on Tuesday, reaching $3.93. 713,252 shares of the company’s stock were exchanged, compared to its average volume of 879,163. La Jolla Pharmaceutical has a twelve month low of $2.30 and a twelve month high of $13.90. The firm has a market cap of $108.36 million, a PE ratio of -0.50 and a beta of 1.84. The stock has a fifty day moving average of $4.79 and a 200-day moving average of $8.08.
La Jolla Pharmaceutical (NASDAQ:LJPC) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($1.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.05) by ($0.03). The company had revenue of $5.71 million during the quarter, compared to analysts’ expectations of $6.96 million. La Jolla Pharmaceutical had a negative net margin of 683.88% and a negative return on equity of 715.11%. On average, equities research analysts forecast that La Jolla Pharmaceutical will post -4.43 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. FMR LLC grew its holdings in La Jolla Pharmaceutical by 3.3% in the first quarter. FMR LLC now owns 4,061,425 shares of the biopharmaceutical company’s stock valued at $26,115,000 after purchasing an additional 128,074 shares during the period. SG Americas Securities LLC acquired a new stake in La Jolla Pharmaceutical during the second quarter worth about $703,000. Prudential Financial Inc. increased its stake in La Jolla Pharmaceutical by 19.5% during the second quarter. Prudential Financial Inc. now owns 425,799 shares of the biopharmaceutical company’s stock worth $3,939,000 after acquiring an additional 69,600 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of La Jolla Pharmaceutical by 27.2% in the 2nd quarter. Bank of Montreal Can now owns 7,043 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 1,506 shares during the period. Finally, Trexquant Investment LP lifted its stake in shares of La Jolla Pharmaceutical by 97.1% in the 2nd quarter. Trexquant Investment LP now owns 22,482 shares of the biopharmaceutical company’s stock valued at $208,000 after purchasing an additional 11,074 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.
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.
Further Reading: Price to Earnings Ratio (PE) Basics
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