Barclays PLC grew its position in La Jolla Pharmaceutical (NASDAQ:LJPC) by 38.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,820 shares of the biopharmaceutical company’s stock after acquiring an additional 6,073 shares during the quarter. Barclays PLC owned 0.08% of La Jolla Pharmaceutical worth $85,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its position in shares of La Jolla Pharmaceutical by 74.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,000 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 2,981 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of La Jolla Pharmaceutical by 14,898.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,399 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 8,343 shares in the last quarter. Grimes & Company Inc. acquired a new position in shares of La Jolla Pharmaceutical in the 4th quarter worth approximately $96,000. Acadian Asset Management LLC acquired a new position in shares of La Jolla Pharmaceutical in the 4th quarter worth approximately $163,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of La Jolla Pharmaceutical in the 4th quarter worth approximately $1,120,000. Institutional investors own 71.93% of the company’s stock.
In other La Jolla Pharmaceutical news, Director Kevin C. Tang purchased 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, January 9th. The stock was purchased at an average cost of $4.99 per share, with a total value of $4,990,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kevin C. Tang purchased 81,475 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were acquired at an average cost of $6.72 per share, with a total value of $547,512.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,131,160 shares of company stock valued at $26,873,996 over the last ninety days. Insiders own 29.47% of the company’s stock.
A number of brokerages have recently issued reports on LJPC. HC Wainwright cut La Jolla Pharmaceutical from a “buy” rating to a “neutral” rating in a report on Tuesday, November 26th. ValuEngine raised La Jolla Pharmaceutical from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 3rd. SunTrust Banks cut La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, Zacks Investment Research cut La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a report on Wednesday, March 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $15.67.
Shares of LJPC opened at $4.02 on Monday. La Jolla Pharmaceutical has a 1 year low of $2.30 and a 1 year high of $13.90. The stock has a 50 day simple moving average of $6.71 and a 200-day simple moving average of $6.75. The stock has a market cap of $119.20 million, a PE ratio of -0.93 and a beta of 1.99.
La Jolla Pharmaceutical (NASDAQ:LJPC) last issued its earnings results on Monday, March 2nd. The biopharmaceutical company reported ($0.93) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.95) by $0.02. La Jolla Pharmaceutical had a negative return on equity of 715.11% and a negative net margin of 505.37%. The business had revenue of $7.25 million during the quarter, compared to analysts’ expectations of $7.21 million. As a group, analysts anticipate that La Jolla Pharmaceutical will post -2.84 earnings per share for the current fiscal year.
La Jolla Pharmaceutical 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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