Broadfin Capital buys $23,333,802 stake in La Jolla Pharmaceutical Company (LJPC)

La Jolla Pharmaceutical Company (LJPC) : Broadfin Capital scooped up 116,000 additional shares in La Jolla Pharmaceutical Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,281,373 shares of La Jolla Pharmaceutical Company which is valued at $23,333,802.La Jolla Pharmaceutical Company makes up approximately 2.15% of Broadfin Capital’s portfolio.

Other Hedge Funds, Including , Venbio Select Advisor reduced its stake in LJPC by selling 572,527 shares or 73.01% in the most recent quarter. The Hedge Fund company now holds 211,672 shares of LJPC which is valued at $3,854,547. La Jolla Pharmaceutical Company makes up approx 1.37% of Venbio Select Advisor’s portfolio.Granahan Investment Management Incma reduced its stake in LJPC by selling 5,570 shares or 2.53% in the most recent quarter. The Hedge Fund company now holds 214,229 shares of LJPC which is valued at $3,901,110. La Jolla Pharmaceutical Company makes up approx 0.13% of Granahan Investment Management Incma’s portfolio.Rhumbline Advisers reduced its stake in LJPC by selling 707 shares or 4.94% in the most recent quarter. The Hedge Fund company now holds 13,595 shares of LJPC which is valued at $247,565.Teachers Advisors Inc boosted its stake in LJPC in the latest quarter, The investment management firm added 56 additional shares and now holds a total of 23,042 shares of La Jolla Pharmaceutical Company which is valued at $419,595.Blackrock Institutional Trust Company N.a. boosted its stake in LJPC in the latest quarter, The investment management firm added 10,900 additional shares and now holds a total of 347,644 shares of La Jolla Pharmaceutical Company which is valued at $6,330,597.

La Jolla Pharmaceutical Company opened for trading at $16.33 and hit $16.56 on the upside on Thursday, eventually ending the session at $16.48, with a gain of 0.80% or 0.13 points. The heightened volatility saw the trading volume jump to 40,768 shares. Company has a market cap of $301 M.

Many Wall Street Analysts have commented on La Jolla Pharmaceutical Company. SunTrust Initiated La Jolla Pharmaceutical Company on Jun 22, 2016 to “Buy”, Price Target of the shares are set at $30.Lake Street Initiated La Jolla Pharmaceutical Company on May 24, 2016 to “Buy”, Price Target of the shares are set at $25.

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. Its four product candidates in development include LJPC-501 GCS-100 LJPC-1010 and LJPC-401. LJPC-501 is its formulation of angiotensin for the treatment of catecholamine-resistant hypotension (CRH). GCS-100 is its galectin-3 inhibitor for the potential treatment of chronic kidney disease. LJPC-1010 is its galectin-3 inhibitor. LJPC-401 is its formulation of hepcidin for the potential treatment of conditions characterized by iron overload such as hemochromatosis and beta thalassemia.

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