La Jolla Pharma +22.4% AH. Wedbush starts at Outperform.

|About: La Jolla Pharmaceutical Co. (LJPC)|By:, SA News Editor

Wedbush's Liana Moussatos has started coverage on La Jolla Pharma (LJPC) with an Outperform and $27 PT.

Moussatos sees a "70% probability of a positive outcome" for a Phase 2a trial of La Jolla's GCS-100 drug in March, and thinks the drug could see peak annual sales of $1B.