In a report issued on June 22, Sam Slutsky from LifeSci Capital maintained a Buy rating on La Jolla Pharma (LJPC), with a price target of $8.00. The company’s shares closed last Wednesday at $4.94.
According to TipRanks.com, Slutsky is a 3-star analyst with an average return of 5.6% and a 46.2% success rate. Slutsky covers the Healthcare sector, focusing on stocks such as Catalyst Biosciences, Sierra Oncology, and BELLUS Health.
La Jolla Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $8.00.
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Based on La Jolla Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $7.59 million and GAAP net loss of $8.59 million. In comparison, last year the company earned revenue of $4.4 million and had a GAAP net loss of $31.69 million.
Based on the recent corporate insider activity of 75 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.
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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 and LJPC-0118. LJPC-501 is the proprietary formulation for angiotensin II. The LJPC-401 is the formulation of hepcidin, which is an endogenous peptide hormone and LJPC-0118 is La Jolla’s investigational product for the treatment of severe malaria. The company was founded in 1989 and is headquartered in San Diego, CA.
