La Jolla Pharmaceutical Co.’s stock surged by more than 17 percent last week, spurred by director Kevin Tang’s purchase of 53,836 shares last Tuesday.
The stock is now hovering about $24 ― less than a dollar below its all-time high and nearly three times higher than its 52-week low of $7.20.
The biopharma company is developing therapies for life-threatening diseases, including its formulation of angiotensin II, LJPC-501, in catecholamine-resistant hypotension (CRH). The company is currently enrolling patients for a Phase 3 clinical trial for LJPC-501 in CRH, and has multiple other drug candidates its pipeline.
The company is rated as a “buy” by multiple Wall Street firms, including Oppenheimer, Jefferies and Wedbush.
La Jolla is trading on Nasdaq under the stock symbol LJPC.