Equities research analysts expect La Jolla Pharmaceutical (NASDAQ:LJPC) to post $5.88 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for La Jolla Pharmaceutical’s earnings. The highest sales estimate is $6.15 million and the lowest is $5.49 million. La Jolla Pharmaceutical reported sales of $1.59 million in the same quarter last year, which indicates a positive year-over-year growth rate of 269.8%. The company is expected to issue its next quarterly earnings results on Wednesday, August 14th.
On average, analysts expect that La Jolla Pharmaceutical will report full-year sales of $24.69 million for the current financial year, with estimates ranging from $23.37 million to $26.00 million. For the next year, analysts expect that the firm will report sales of $73.57 million, with estimates ranging from $45.27 million to $93.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for La Jolla Pharmaceutical.
La Jolla Pharmaceutical (NASDAQ:LJPC) last released its quarterly earnings data on Monday, May 6th. The biopharmaceutical company reported ($1.17) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.31) by $0.14. The company had revenue of $4.40 million during the quarter, compared to the consensus estimate of $4.98 million. La Jolla Pharmaceutical had a negative net margin of 1,324.04% and a negative return on equity of 337.55%.
LJPC has been the subject of a number of recent research reports. Cowen reiterated a “buy” rating on shares of La Jolla Pharmaceutical in a report on Tuesday, March 5th. JPMorgan Chase & Co. upgraded shares of La Jolla Pharmaceutical from an “underweight” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $9.00 in a report on Wednesday, January 23rd. Zacks Investment Research upgraded shares of La Jolla Pharmaceutical from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a report on Saturday, May 11th. HC Wainwright reiterated a “buy” rating and issued a $26.00 price objective on shares of La Jolla Pharmaceutical in a report on Wednesday, April 24th. Finally, ValuEngine upgraded shares of La Jolla Pharmaceutical from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $30.63.
LJPC stock traded up $0.03 during mid-day trading on Thursday, reaching $5.82. The company’s stock had a trading volume of 291,131 shares, compared to its average volume of 831,522. The company has a market cap of $157.72 million, a price-to-earnings ratio of -0.74 and a beta of 1.41. La Jolla Pharmaceutical has a fifty-two week low of $5.01 and a fifty-two week high of $38.39.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its holdings in shares of La Jolla Pharmaceutical by 63,657.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,463 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 4,456 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of La Jolla Pharmaceutical by 901.3% during the 1st quarter. Bank of Montreal Can now owns 5,537 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 4,984 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of La Jolla Pharmaceutical during the 1st quarter worth approximately $67,000. Parametric Portfolio Associates LLC acquired a new stake in shares of La Jolla Pharmaceutical during the 1st quarter worth approximately $68,000. Finally, Jefferies Group LLC acquired a new stake in shares of La Jolla Pharmaceutical during the 1st quarter worth approximately $74,000.
About La Jolla Pharmaceutical
La Jolla Pharmaceutical Company, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for life-threatening diseases. The company offers GIAPREZA (angiotensin II), an injection for intravenous infusion indicated to increase blood pressure in adults with septic or other distributive shock.
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