JPMorgan sees La Jolla as range bound, upgrades shares to Neutral

JPMorgan analyst Anupam Rama upgraded La Jolla Pharmaceutical to Neutral from Underweight while cutting his price target for the shares to $9 from $18. The analyst expects the focus to shift away from the Giapreza U.S. launch to other clinical programs, in particular the LJPC-401 program. He believes the shares shares will be more range bound in the first half of 2019, which forms his Neutral rating.
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