La Jolla Pharma Receives a Buy from Noble Financial

By Ryan Adsit

In a report issued on April 28, Mark Jordan from Noble Financial reiterated a Buy rating on La Jolla Pharma (NASDAQ: LJPC). The company’s shares closed last Friday at $29.

According to TipRanks.com, Jordan is a 1-star analyst with an average return of -1.4% and a 47.5% success rate. Jordan covers the Technology sector, focusing on stocks such as Comtech Telecommunications, OmniComm Systems Inc, and Innodata Isogen Inc.

Currently, the analyst consensus on La Jolla Pharma is Strong Buy and the average price target is $50.67, representing a 74.7% upside.

In a report issued on April 20, SunTrust Robinson also maintained a Buy rating on the stock with a $57 price target.

The company has a one year high of $39.28 and a one year low of $14.24. Currently, La Jolla Pharma has an average volume of 870.4K.

Based on the recent corporate insider activity of 9 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. Last month, George Tidmarsh, the President of LJPC bought 3,000 shares for a total of $102,490.

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. is a biopharmaceutical company, which engages in the discovery, development, and commercialization of innovative 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. LJPC-501 is the proprietary formulation for angiotensin II. The LJPC-401 is the formulation of hepcidin, which is an endogenous peptide hormone. The LJPC-30Sa and LJPC-30Sb are the next generation gentamicin derivatives, which is an antibiotic for kidney toxicity. The company was founded in 1989 and is headquartered in San Diego, CA.