Wall Street brokerages predict that La Jolla Pharmaceutical (NASDAQ:LJPC) will announce $2.03 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for La Jolla Pharmaceutical’s earnings, with the lowest sales estimate coming in at $600,000.00 and the highest estimate coming in at $3.50 million. The company is expected to announce its next quarterly earnings results on Thursday, July 26th.
On average, analysts expect that La Jolla Pharmaceutical will report full year sales of $19.48 million for the current fiscal year, with estimates ranging from $5.76 million to $31.40 million. For the next financial year, analysts forecast that the business will report sales of $110.69 million per share, with estimates ranging from $44.32 million to $187.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for La Jolla Pharmaceutical.
La Jolla Pharmaceutical (NASDAQ:LJPC) last posted its earnings results on Thursday, May 10th. The biopharmaceutical company reported ($2.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.48) by ($0.74). The company had revenue of $0.81 million for the quarter.
A number of equities research analysts recently weighed in on LJPC shares. HC Wainwright lowered their target price on shares of La Jolla Pharmaceutical to $83.00 and set a “buy” rating on the stock in a report on Thursday, March 22nd. Zacks Investment Research lowered shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a report on Thursday. ValuEngine upgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Chardan Capital upped their target price on shares of La Jolla Pharmaceutical from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, BidaskClub lowered shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $55.86.
LJPC opened at $33.16 on Friday. La Jolla Pharmaceutical has a fifty-two week low of $32.17 and a fifty-two week high of $32.82. The stock has a market capitalization of $842.17 million, a P/E ratio of -6.13 and a beta of 1.42.
In other news, major shareholder Perceptive Advisors Llc acquired 700,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was purchased at an average price of $29.50 per share, for a total transaction of $20,650,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kevin C. Tang acquired 508,474 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was purchased at an average price of $29.50 per share, with a total value of $14,999,983.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 1,369,474 shares of company stock valued at $40,759,863. Company insiders own 25.47% of the company’s stock.
Large investors have recently bought and sold shares of the business. Sectoral Asset Management Inc increased its stake in La Jolla Pharmaceutical by 42.0% in the 4th quarter. Sectoral Asset Management Inc now owns 854,301 shares of the biopharmaceutical company’s stock valued at $27,491,000 after buying an additional 252,801 shares during the last quarter. RTW Investments LP increased its stake in La Jolla Pharmaceutical by 1.8% in the 4th quarter. RTW Investments LP now owns 1,063,170 shares of the biopharmaceutical company’s stock valued at $34,213,000 after buying an additional 18,863 shares during the last quarter. Perceptive Advisors LLC increased its stake in La Jolla Pharmaceutical by 57.1% in the 4th quarter. Perceptive Advisors LLC now owns 3,388,611 shares of the biopharmaceutical company’s stock valued at $109,046,000 after buying an additional 1,231,600 shares during the last quarter. Ascend Capital LLC purchased a new stake in La Jolla Pharmaceutical in the 4th quarter valued at about $6,084,000. Finally, Stanley Laman Group Ltd. purchased a new stake in La Jolla Pharmaceutical in the 4th quarter valued at about $5,427,000.
About La Jolla Pharmaceutical
La Jolla Pharmaceutical Company, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for life-threatening diseases. It offers GIAPREZA, an injection for intravenous infusion indicated to increase blood pressure in adults with septic or other distributive shock.
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