Jefferies Group cut shares of La Jolla Pharmaceutical (NASDAQ:LJPC) from a buy rating to an underperform rating in a research note published on Monday morning, Marketbeat.com reports. Jefferies Group currently has $29.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $40.00. Jefferies Group also issued estimates for La Jolla Pharmaceutical’s Q2 2018 earnings at ($1.23) EPS, Q3 2018 earnings at ($0.96) EPS, Q4 2018 earnings at ($0.94) EPS, FY2018 earnings at ($4.28) EPS, FY2019 earnings at ($2.92) EPS, FY2020 earnings at ($0.52) EPS, FY2021 earnings at ($0.40) EPS and FY2022 earnings at $0.79 EPS.

Several other brokerages also recently commented on LJPC. SunTrust Banks reaffirmed a buy rating and set a $65.00 price objective (down previously from $67.00) on shares of La Jolla Pharmaceutical in a research report on Friday, December 22nd. Zacks Investment Research raised shares of La Jolla Pharmaceutical from a hold rating to a buy rating and set a $39.00 price target for the company in a research report on Wednesday, November 1st. HC Wainwright lifted their price target on shares of La Jolla Pharmaceutical from $62.00 to $91.00 and gave the company a buy rating in a research report on Friday, December 29th. Chardan Capital lifted their price target on shares of La Jolla Pharmaceutical from $90.00 to $100.00 and gave the company a buy rating in a research report on Thursday, January 25th. Finally, BidaskClub downgraded shares of La Jolla Pharmaceutical from a sell rating to a strong sell rating in a research report on Friday, December 15th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $57.00.

Shares of La Jolla Pharmaceutical (NASDAQ LJPC) opened at $32.73 on Monday. The company has a market cap of $724.81, a P/E ratio of -6.42 and a beta of 1.20. La Jolla Pharmaceutical has a 52-week low of $16.71 and a 52-week high of $41.36.

In related news, Director Laura L. Douglass sold 10,000 shares of La Jolla Pharmaceutical stock in a transaction on Friday, December 29th. The shares were sold at an average price of $32.32, for a total value of $323,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jennifer Carver purchased 1,000 shares of La Jolla Pharmaceutical stock in a transaction that occurred on Wednesday, December 27th. The stock was acquired at an average cost of $33.22 per share, with a total value of $33,220.00. Following the transaction, the chief operating officer now owns 4,500 shares in the company, valued at approximately $149,490. The disclosure for this purchase can be found here. Company insiders own 25.47% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cowen Inc. lifted its stake in La Jolla Pharmaceutical by 375.6% during the 3rd quarter. Cowen Inc. now owns 93,700 shares of the biopharmaceutical company’s stock valued at $3,259,000 after acquiring an additional 74,000 shares in the last quarter. Candriam Luxembourg S.C.A. bought a new position in La Jolla Pharmaceutical during the 3rd quarter valued at $6,295,000. Vanguard Group Inc. lifted its stake in La Jolla Pharmaceutical by 23.3% during the 2nd quarter. Vanguard Group Inc. now owns 816,779 shares of the biopharmaceutical company’s stock valued at $24,316,000 after acquiring an additional 154,494 shares in the last quarter. Pictet Asset Management Ltd. bought a new position in La Jolla Pharmaceutical during the 3rd quarter valued at $13,266,000. Finally, TIAA CREF Investment Management LLC lifted its stake in La Jolla Pharmaceutical by 29.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 47,043 shares of the biopharmaceutical company’s stock valued at $1,400,000 after acquiring an additional 10,703 shares in the last quarter.

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About La Jolla Pharmaceutical

La Jolla Pharmaceutical Company is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapies to improve outcomes in patients suffering from life-threatening diseases. LJPC-501 is its formulation of angiotensin II for the potential treatment of catecholamine-resistant hypotension (CRH).

Analyst Recommendations for La Jolla Pharmaceutical (NASDAQ:LJPC)

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