La Jolla Pharmaceutical (NASDAQ:LJPC) upgraded to “C-” by TheStreet
La Jolla Pharmaceutical (NASDAQ:LJPC – Get a rating) was upgraded by TheStreet investment analysts from a “d+” rating to a “c-” rating in a report released on Friday, reports TheStreetRatingsTable.
Separately, StockNews.com began covering La Jolla Pharmaceutical in a research note on Friday, July 15. They issued a “hold” rating for the company.
La Jolla Pharmaceutical is trading down 0.2%
Shares of La Jolla Pharmaceutical opened at $6.20 on Friday. La Jolla Pharmaceutical has a 12-month low of $3.07 and a 12-month high of $6.22. The stock’s 50-day moving average is $4.38 and its 200-day moving average is $4.28. The company has a market capitalization of $154.57 million, a price-earnings ratio of 41.33 and a beta of 2.39.
La Jolla Pharmaceutical (NASDAQ:LJPC – Get Rating) last reported results on Monday, May 16. The biopharmaceutical company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.01 per ($0.16). The company posted revenue of $10.43 million in the quarter, versus analyst estimates of $13.10 million. La Jolla Pharmaceutical had a net margin of 10.08% and a negative return on equity of 7.27%. As a group, equity research analysts expect La Jolla Pharmaceutical to post earnings per share of 0.04 for the current fiscal year.
Hedge funds weigh on La Jolla Pharmaceutical
Several large investors have recently increased or reduced their stake in the company. Acadian Asset Management LLC increased its position in La Jolla Pharmaceutical shares by 18.3% during the fourth quarter. Acadian Asset Management LLC now owns 435,387 shares of the biopharmaceutical company worth $2,023,000 after purchasing an additional 67,219 shares last quarter. BNP Paribas Arbitrage SA increased its stake in La Jolla Pharmaceutical shares by 15,344.2% during the 4th quarter. BNP Paribas Arbitrage SA now owns 30,734 shares of the biopharmaceutical company worth $143,000 after buying an additional 30,535 shares in the last quarter. Globeflex Capital LP increased its stake in shares of La Jolla Pharmaceutical by 242.6% during the 4th quarter. Globeflex Capital LP now owns 92,799 shares of the biopharmaceutical company worth $432,000 after buying an additional 65,710 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of La Jolla Pharmaceutical by 4.8% during the 1st quarter. Bank of New York Mellon Corp now owns 127,084 shares of the biopharmaceutical company worth $543,000 after buying 5,781 additional shares in the last quarter. Finally, State Street Corp increased its stake in shares of La Jolla Pharmaceutical by 4.2% during the 1st quarter. State Street Corp now owns 98,941 shares of the biopharmaceutical company worth $422,000 after buying 3,962 additional shares in the last quarter. Institutional investors hold 97.06% of the company’s shares.
About La Jolla Pharmaceutical
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La Jolla Pharmaceutical Company is committed to 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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