Portola Pharmaceuticals, Inc. (PTLA) Receives $64.45 Consensus Target Price from Brokerages
Shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) have received a consensus rating of “Buy” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $64.45.
PTLA has been the subject of several recent research reports. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $80.00 price target on shares of Portola Pharmaceuticals in a report on Wednesday, September 6th. Zacks Investment Research downgraded Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub downgraded Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Morgan Stanley restated an “overweight” rating and set a $81.00 target price (up from $75.00) on shares of Portola Pharmaceuticals in a research note on Friday, October 6th. Finally, Credit Suisse Group upgraded Portola Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $70.00 target price for the company in a research note on Wednesday, August 23rd.
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Shares of Portola Pharmaceuticals (PTLA) traded up $0.66 during midday trading on Monday, reaching $49.15. The company had a trading volume of 556,738 shares, compared to its average volume of 989,268. Portola Pharmaceuticals has a 52-week low of $17.15 and a 52-week high of $67.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.31 and a quick ratio of 8.31.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.49) by $0.08. Portola Pharmaceuticals had a negative return on equity of 110.46% and a negative net margin of 938.19%. The firm had revenue of $3.83 million during the quarter, compared to the consensus estimate of $4.71 million. During the same period in the prior year, the firm earned ($1.64) EPS. The firm’s quarterly revenue was down 58.9% compared to the same quarter last year. analysts forecast that Portola Pharmaceuticals will post -4.95 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in PTLA. Parametric Portfolio Associates LLC grew its stake in shares of Portola Pharmaceuticals by 50.4% during the first quarter. Parametric Portfolio Associates LLC now owns 32,145 shares of the biopharmaceutical company’s stock valued at $1,260,000 after acquiring an additional 10,776 shares in the last quarter. Principal Financial Group Inc. grew its stake in Portola Pharmaceuticals by 0.3% in the first quarter. Principal Financial Group Inc. now owns 62,322 shares of the biopharmaceutical company’s stock worth $2,442,000 after purchasing an additional 202 shares in the last quarter. Teachers Advisors LLC grew its stake in Portola Pharmaceuticals by 225.5% in the first quarter. Teachers Advisors LLC now owns 259,325 shares of the biopharmaceutical company’s stock worth $10,163,000 after purchasing an additional 179,645 shares in the last quarter. Legal & General Group Plc grew its stake in Portola Pharmaceuticals by 1.6% in the first quarter. Legal & General Group Plc now owns 18,364 shares of the biopharmaceutical company’s stock worth $719,000 after purchasing an additional 290 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Portola Pharmaceuticals by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,614,814 shares of the biopharmaceutical company’s stock worth $180,855,000 after purchasing an additional 192,420 shares in the last quarter. Institutional investors own 86.04% of the company’s stock.
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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