In a research report published April 20, Oppenheimer analyst Ling Wang initiated coverage on shares of La Jolla Pharmaceutical Company (NASDAQ:LJPC) with an Outperform rating and price target of $43.00, which implies an upside of 125% from current levels.
Wang wrote, “LJPC has an attractive pipeline addressing multiple, large unmet medical needs. We see lead compound LJPC-501 as having a good probability of success (65%) in a pivotal phase III trial in catecholamineresistant hypotension (CRH, data in 2H16) and expect second compound GCS-100 to establish definitive proof-of-concept in a phase IIb trial in diabetic chronic kidney disease (CKD) by 2H16. Other value drivers include potential POC of LJPC-501 in hepatorenal syndrome (HRS) and advancement of earlier stage pipeline products.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ling Wang has a total average return of -2.8% and a 35.5% success rate. Wang is ranked #3076 out of 3575 analysts.