Portola Pharmaceuticals, Inc. (PTLA) Upgraded at BidaskClub
BidaskClub upgraded shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
Several other research analysts also recently weighed in on PTLA. Oppenheimer Holdings, Inc. set a $46.00 target price on Portola Pharmaceuticals and gave the company a buy rating in a research note on Tuesday, May 9th. ValuEngine upgraded Portola Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, June 2nd. Citigroup Inc. set a $51.00 target price on Portola Pharmaceuticals and gave the company a buy rating in a research note on Saturday, June 17th. William Blair reiterated an outperform rating on shares of Portola Pharmaceuticals in a research note on Monday, June 26th. Finally, Cowen and Company lifted their target price on Portola Pharmaceuticals from $45.00 to $70.00 and gave the company an outperform rating in a research note on Monday, June 26th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $63.77.
Portola Pharmaceuticals (NASDAQ PTLA) opened at 56.84 on Friday. Portola Pharmaceuticals has a 1-year low of $15.68 and a 1-year high of $67.10. The firm’s 50-day moving average is $60.42 and its 200 day moving average is $44.48. The company’s market cap is $3.28 billion.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.10) by $0.12. The firm had revenue of $3.79 million for the quarter, compared to analysts’ expectations of $4.28 million. Portola Pharmaceuticals had a negative return on equity of 145.12% and a negative net margin of 807.93%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.02) EPS. Analysts predict that Portola Pharmaceuticals will post ($4.83) earnings per share for the current fiscal year.
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In other Portola Pharmaceuticals news, Director Jeffrey W. Bird purchased 119,442 shares of Portola Pharmaceuticals stock in a transaction dated Thursday, June 1st. The stock was acquired at an average cost of $31.85 per share, with a total value of $3,804,227.70. Following the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at $95,550. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William Lis sold 269,299 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $55.43, for a total value of $14,927,243.57. The disclosure for this sale can be found here. Insiders sold a total of 2,289,656 shares of company stock valued at $91,298,131 over the last three months. Insiders own 4.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of PTLA. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Portola Pharmaceuticals by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 258 shares in the last quarter. Jacobi Capital Management LLC acquired a new stake in Portola Pharmaceuticals during the second quarter valued at approximately $125,000. IFP Advisors Inc boosted its stake in Portola Pharmaceuticals by 7.7% in the second quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 170 shares in the last quarter. QS Investors LLC acquired a new stake in Portola Pharmaceuticals during the second quarter valued at approximately $147,000. Finally, SVA Plumb Wealth Management LLC acquired a new stake in Portola Pharmaceuticals during the second quarter valued at approximately $205,000. 85.27% of the stock is owned by institutional investors and hedge funds.
Portola Pharmaceuticals Company Profile
Portola Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics in the areas of thrombosis, other hematologic disorders and inflammation for patients having limited or no approved treatment options. The Company’s two lead programs, Betrixaban and Andexanet alfa, address unmet medical needs in the area of thrombosis, or blood clots.
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