StockNews.com Begins Coverage on La Jolla Pharmaceutical (NASDAQ:LJPC)

StockNews.com assumed coverage on shares of La Jolla Pharmaceutical (NASDAQ:LJPCGet Rating) in a report released on Thursday. The firm set a “buy” rating on the biopharmaceutical company’s stock.

Separately, Zacks Investment Research lowered shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Thursday, May 19th.

LJPC opened at $3.77 on Thursday. The firm has a market capitalization of $96.35 million, a P/E ratio of 25.13 and a beta of 1.94. The firm’s 50 day moving average is $4.06 and its 200-day moving average is $4.26. La Jolla Pharmaceutical has a 52-week low of $3.44 and a 52-week high of $5.30.

La Jolla Pharmaceutical (NASDAQ:LJPCGet Rating) last posted its quarterly earnings data 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). La Jolla Pharmaceutical had a net margin of 10.08% and a negative return on equity of 7.27%. As a group, analysts forecast that La Jolla Pharmaceutical will post 0.04 earnings per share for the current year.

Several large investors have recently modified their holdings of the stock. Running Point Capital Advisors LLC acquired a new position in La Jolla Pharmaceutical in the first quarter worth $43,000. Ritholtz Wealth Management acquired a new position in La Jolla Pharmaceutical in the first quarter worth $64,000. BNP Paribas Arbitrage SA boosted its holdings in La Jolla Pharmaceutical by 15,344.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 30,734 shares of the biopharmaceutical company’s stock worth $143,000 after purchasing an additional 30,535 shares during the period. Renaissance Technologies LLC acquired a new position in shares of La Jolla Pharmaceutical during the third quarter valued at $183,000. Finally, Citadel Advisors LLC boosted its holdings in shares of La Jolla Pharmaceutical by 37.7% during the fourth quarter. Citadel Advisors LLC now owns 61,977 shares of the biopharmaceutical company’s stock valued at $288,000 after acquiring an additional 16,959 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.

La Jolla Pharmaceutical Company Profile (Get Rating)

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.

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