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

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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