The La Jolla Pharmaceutical Company (LJPC) Rating Increased to Hold at Zacks Investment Research

The La Jolla Pharmaceutical Company (LJPC) Rating Increased to Hold at Zacks Investment Research

La Jolla Pharmaceutical Company (NASDAQ:LJPC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “LA JOLLA PHARMACEUTICAL CO. is engaged in the research and development of therapeutic products for the treatment of autoimmune and inflammatory diseases. “

Shares of La Jolla Pharmaceutical Company (NASDAQ:LJPC) opened at 20.66 on Tuesday. La Jolla Pharmaceutical Company has a 12-month low of $12.68 and a 12-month high of $28.20. The company has a 50-day moving average price of $18.78 and a 200 day moving average price of $19.14. The firm’s market capitalization is $377.13 million.

Large investors have recently made changes to their positions in the company. Advisors Asset Management Inc. increased its stake in shares of La Jolla Pharmaceutical Company by 8.1% in the second quarter. Advisors Asset Management Inc. now owns 46,476 shares of the biopharmaceutical company’s stock valued at $744,000 after buying an additional 3,465 shares during the period. Nationwide Fund Advisors increased its stake in shares of La Jolla Pharmaceutical Company by 5.6% in the second quarter. Nationwide Fund Advisors now owns 9,184 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 491 shares during the period. Vanguard Group Inc. increased its stake in shares of La Jolla Pharmaceutical Company by 1.8% in the second quarter. Vanguard Group Inc. now owns 484,062 shares of the biopharmaceutical company’s stock valued at $7,745,000 after buying an additional 8,687 shares during the period. BlackRock Advisors LLC increased its stake in shares of La Jolla Pharmaceutical Company by 3.0% in the second quarter. BlackRock Advisors LLC now owns 6,693 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 192 shares during the period. Finally, BlackRock Investment Management LLC increased its stake in shares of La Jolla Pharmaceutical Company by 7.8% in the second quarter. BlackRock Investment Management LLC now owns 52,724 shares of the biopharmaceutical company’s stock valued at $844,000 after buying an additional 3,804 shares during the period. Institutional investors and hedge funds own 88.31% of the company’s stock.

About La Jolla Pharmaceutical Company

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. It is engaged in the research, development and commercialization of its technologies and drug candidates for pharmaceutical products.

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