Rhumbline Advisers Purchases 3,995 Shares of La Jolla Pharmaceutical (NASDAQ:LJPC)

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Rhumbline Advisers grew its position in La Jolla Pharmaceutical (NASDAQ:LJPC) by 25.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,855 shares of the biopharmaceutical company’s stock after purchasing an additional 3,995 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of La Jolla Pharmaceutical worth $579,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of La Jolla Pharmaceutical in the first quarter valued at about $134,000. WINTON GROUP Ltd acquired a new stake in shares of La Jolla Pharmaceutical in the first quarter valued at about $276,000. First Midwest Bank Trust Division acquired a new stake in shares of La Jolla Pharmaceutical in the second quarter valued at about $279,000. Fox Run Management L.L.C. acquired a new stake in shares of La Jolla Pharmaceutical in the second quarter valued at about $284,000. Finally, Hollencrest Capital Management acquired a new stake in shares of La Jolla Pharmaceutical in the second quarter valued at about $321,000.

Several analysts recently commented on LJPC shares. Chardan Capital reiterated a “buy” rating and issued a $115.00 price objective on shares of La Jolla Pharmaceutical in a research note on Monday, June 18th. ValuEngine cut shares of La Jolla Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. BidaskClub upgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. HC Wainwright cut their target price on shares of La Jolla Pharmaceutical to $53.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Finally, Zacks Investment Research upgraded shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Four research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. La Jolla Pharmaceutical currently has an average rating of “Hold” and a consensus target price of $50.00.

Shares of NASDAQ:LJPC traded up $0.48 during trading on Friday, reaching $17.62. The stock had a trading volume of 908,032 shares, compared to its average volume of 473,172. The firm has a market cap of $527.93 million, a PE ratio of -3.26 and a beta of 1.39. La Jolla Pharmaceutical has a fifty-two week low of $17.01 and a fifty-two week high of $41.36.

La Jolla Pharmaceutical (NASDAQ:LJPC) last posted its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($2.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.95) by ($0.07). The firm had revenue of $1.59 million for the quarter, compared to analyst estimates of $2.48 million. Equities analysts expect that La Jolla Pharmaceutical will post -8.16 earnings per share for the current year.

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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Institutional Ownership by Quarter for La Jolla Pharmaceutical (NASDAQ:LJPC)

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