Chardan Raises Price Target For La Jolla Pharmaceutical Company Following Meeting with CEO

Chardan Capital analyst Gbola Amusa weighed in today with a favorable report on La Jolla Pharmaceutical Company (NASDAQ:LJPC), reiterating a Buy rating and raising the price target from $60 to $80, which represents a potential upside of 102% from where the stock is currently trading.

Amusa explained, “Last week, we had the opportunity to meet with La Jolla Pharmaceutical CEO, George F. Tidmarsh, MD, PhD, while LJPC was on a roadshow to meet with analysts and investors. After having the chance to have some of our questions answered on the most important drivers of LJPC valuation, we now update our LJPC model, which drives an increase in our PT.”

The analyst continued, “The components of our $20 (+33%) price target increase are: 1) a $5.50 increase on LJPC-501 (phase III) in catecholamine resistant hypotension (CRH), as market research is showing LJPC-501 as a potential “game changer” in CRH, and potentially in un-modeled earlier-stage hypotension settings, 2) a $11.81 increase on LJPC-401 (phase I), after newly modeling the product in hereditary hemochromatosis (HH), and noting optionality in LJPC-401 possibly having utility more broadly in other forms of chronic iron overload and possibly in hemolytic anemias, and 3) a $2.81 increase on LJPC-30Sa/b (IND filing imminent), after newly modeling the product as an antibiotic which may replace gentamicin based on efficacy potentially similar to gentamicin but without gentamicin’s limiting toxicities.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Gbola Amusa MD CFA has a total average return of 9.1% and a 55.7% success rate. CFA has a 43.7% average return when recommending LJPC, and is ranked #603 out of 3747 analysts.

As of this writing, all the 4 analysts polled by TipRanks rate La Jolla Pharmaceutical stock a Buy. With a return potential of 20%, the stock’s consensus target price stands at $47.67.

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