In a report released today, Edward White from H.C. Wainwright maintained a Buy rating on La Jolla Pharma (NASDAQ: LJPC), with a price target of $53. The company’s shares opened today at $22.25, close to its 52-week low of $20.25.
According to TipRanks.com, White is a 5-star analyst with an average return of 24.9% and a 54.6% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
Currently, the analyst consensus on La Jolla Pharma is a Moderate Buy with an average price target of $58.75.
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Based on La Jolla Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $52.78 million. In comparison, last year the company had a GAAP net loss of $26.73 million.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LJPC in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.