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Post# of 252300
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Thursday, 06/06/2019 6:10:41 PM

Thursday, June 06, 2019 6:10:41 PM

Post# of 252300
LJPC H.C. WAINWRIGHT CALLS LJPC A "BUY" ON DRUG DATA
"Fellow biopharmaceutical concern La Jolla is seeing a surge, as well, after the company reported positive data for its experimental hereditary hemochromatosis (HH) treatment, LJPC-401, in a mid-stage trial. The news has LJPC stock vying for its highest close in over five months, and its biggest one-day jump since 2012, surging 86% to trade at $10.25, at last check. Plus, the equity is testing resistance at its 180-day moving average after briefly trading atop it earlier today, for the first time since its peak last August.

LJPC's surge had H.C. Wainwright chiming in, lifting its price target to $27 from $25, while maintaining its "buy" rating. The analyst's price target is the highest on Wall Street, but analysts are anything but bearish on the pharma name. La Jolla currently boasts a consensus 12-month target price of $19.50 -- about a 90% premium to current levels. Plus, 80% of the analysts following the stock dub it a "strong buy."

Options buyers are in a frenzy over La Jolla stock, too. Currently 15.3 million contracts have crossed the tape, an eyebrow-raising 52 times the intraday amount. It looks like the June 8- and 9-strike puts are getting the most action, with majority of contracts being sold to open."

(I don't own this stock but have it on my tracking list. The jump today is considerable, nearly a double from it's recent levels, but well below the $30/share value just over a year ago.

https://www.schaeffersresearch.com/content/news/2019/06/06/2-pharma-stocks-surging-on-drug-data

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