La Jolla Pharmaceutical (LJPC) Stake Raised by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. lifted its stake in shares of La Jolla Pharmaceutical (NASDAQ:LJPC) by 130.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,659 shares of the biopharmaceutical company’s stock after acquiring an additional 36,580 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.29% of La Jolla Pharmaceutical worth $2,249,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Legal & General Group Plc increased its stake in shares of La Jolla Pharmaceutical by 11.6% during the second quarter. Legal & General Group Plc now owns 4,456 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 462 shares during the period. Nationwide Fund Advisors increased its stake in shares of La Jolla Pharmaceutical by 20.4% during the second quarter. Nationwide Fund Advisors now owns 9,952 shares of the biopharmaceutical company’s stock valued at $296,000 after acquiring an additional 1,688 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of La Jolla Pharmaceutical by 19.2% during the second quarter. The Manufacturers Life Insurance Company now owns 13,397 shares of the biopharmaceutical company’s stock valued at $399,000 after acquiring an additional 2,162 shares during the period. Wells Fargo & Company MN increased its stake in shares of La Jolla Pharmaceutical by 23.0% during the second quarter. Wells Fargo & Company MN now owns 16,937 shares of the biopharmaceutical company’s stock valued at $504,000 after acquiring an additional 3,167 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of La Jolla Pharmaceutical by 21.2% during the second quarter. New York State Common Retirement Fund now owns 18,300 shares of the biopharmaceutical company’s stock valued at $545,000 after acquiring an additional 3,199 shares during the period.

La Jolla Pharmaceutical (LJPC) opened at $30.20 on Friday. The stock has a market cap of $624.05, a P/E ratio of -5.92 and a beta of 1.63. La Jolla Pharmaceutical has a 12-month low of $16.71 and a 12-month high of $39.28.

La Jolla Pharmaceutical (NASDAQ:LJPC) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.24) by $0.05. research analysts forecast that La Jolla Pharmaceutical will post -4.91 earnings per share for the current fiscal year.

A number of research analysts recently commented on LJPC shares. ValuEngine lowered shares of La Jolla Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Zacks Investment Research lowered shares of La Jolla Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Chardan Capital reiterated a “buy” rating and set a $90.00 price objective on shares of La Jolla Pharmaceutical in a research note on Friday, December 22nd. SunTrust Banks reiterated a “buy” rating and set a $65.00 price objective (down previously from $67.00) on shares of La Jolla Pharmaceutical in a research note on Friday, December 22nd. Finally, Cowen reiterated a “buy” rating and set a $55.00 price objective on shares of La Jolla Pharmaceutical in a research note on Friday, December 22nd. Three research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. La Jolla Pharmaceutical has an average rating of “Hold” and an average target price of $57.14.

In other La Jolla Pharmaceutical news, Director Laura L. Douglass sold 10,000 shares of La Jolla Pharmaceutical stock in a transaction that occurred on Saturday, December 29th. The shares were sold at an average price of $32.32, for a total value of $323,200.00. Following the transaction, the director now owns 6,000 shares in the company, valued at $193,920. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jennifer Carver purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was acquired at an average price of $33.22 per share, for a total transaction of $33,220.00. Following the transaction, the chief operating officer now owns 4,500 shares of the company’s stock, valued at approximately $149,490. The disclosure for this purchase can be found here. Insiders own 25.47% of the company’s stock.

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La Jolla Pharmaceutical Profile

La Jolla Pharmaceutical Company is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapies to improve outcomes in patients suffering from life-threatening diseases. LJPC-501 is its formulation of angiotensin II for the potential treatment of catecholamine-resistant hypotension (CRH).

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Institutional Ownership by Quarter for La Jolla Pharmaceutical (NASDAQ:LJPC)

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