La Jolla Pharma (LJPC) PT Lowered to $15 at Chardan Capital Markets

Chardan Capital Markets analyst Keay Nakae lowered the price target on La Jolla Pharma (NASDAQ: LJPC) to $15.00 (from $20.00) on the belief that the focused strategy of La Jolla's new Management team should result in more consistent improvements in financial results going forward.

The analyst maintained a Buy rating, stating "Following a series of disappointments which included the dismal launch of Giapreza in the U.S. in 2018 against unrealistic projections, the failure of LJPC-401 in the pivotal study evaluating it as a treatment for iron overload in beta thalassemia in late 2019, and getting beat to the punch in May 2020 when the FDA approved Amivas' (private) orphan drug designated Artesunate for Injection product for the treatment of severe malaria, in front of La Jolla's LJPC-0118 artesunate candidate, LJPC's stock price has floundered."

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