Cowen & Co. Thinks La Jolla Pharma’s Stock is Going to Recover
Cowen & Co. analyst Phil Nadeau maintained a Buy rating on La Jolla Pharma (LJPC) today and set a price target of $30. The company’s shares opened today at $5.24, close to its 52-week low of $5.22.
According to TipRanks.com, Nadeau is a 4-star analyst with an average return of 3.5% and a 41.6% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals Inc, Rocket Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for La Jolla Pharma with a $37 average price target.
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Based on La Jolla Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $50.75 million. In comparison, last year the company had a GAAP net loss of $38.55 million.
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La Jolla Pharmaceutical Co. operates as a biopharmaceutical company, which engages in the discovery, development and commercialization of therapies intended to significantly improve outcomes in patients suffering from life-threatening diseases. Its products includes LJPC-501, LJPC-401, LJPC-30Sa and LJPC-30Sb.