Portola Pharmaceuticals Inc (NASDAQ:PTLA) is Fernwood Investment Management LLC’s 2nd Largest Position
Fernwood Investment Management LLC decreased its stake in Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 381,911 shares of the biopharmaceutical company’s stock after selling 5,100 shares during the quarter. Portola Pharmaceuticals makes up 5.7% of Fernwood Investment Management LLC’s portfolio, making the stock its 2nd biggest holding. Fernwood Investment Management LLC owned 0.56% of Portola Pharmaceuticals worth $10,361,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of America Corp DE increased its stake in shares of Portola Pharmaceuticals by 38.6% in the fourth quarter. Bank of America Corp DE now owns 252,260 shares of the biopharmaceutical company’s stock valued at $4,925,000 after buying an additional 70,196 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Portola Pharmaceuticals in the fourth quarter valued at approximately $205,000. Legal & General Group Plc increased its stake in shares of Portola Pharmaceuticals by 4.4% in the fourth quarter. Legal & General Group Plc now owns 25,219 shares of the biopharmaceutical company’s stock valued at $492,000 after buying an additional 1,062 shares during the period. Norges Bank acquired a new position in shares of Portola Pharmaceuticals in the fourth quarter valued at approximately $11,465,000. Finally, Geode Capital Management LLC increased its stake in shares of Portola Pharmaceuticals by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 730,249 shares of the biopharmaceutical company’s stock valued at $14,254,000 after buying an additional 33,734 shares during the period.
PTLA has been the subject of several recent research reports. Credit Suisse Group reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of Portola Pharmaceuticals in a research note on Monday, August 5th. Zacks Investment Research cut Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub upgraded Portola Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, August 8th. Morgan Stanley set a $37.00 target price on Portola Pharmaceuticals and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Cowen reiterated a “buy” rating and issued a $45.00 target price on shares of Portola Pharmaceuticals in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $41.43.
PTLA stock traded up $0.25 during trading on Thursday, hitting $30.84. The company had a trading volume of 91,354 shares, compared to its average volume of 1,071,096. The stock has a 50-day moving average price of $26.88. Portola Pharmaceuticals Inc has a one year low of $14.81 and a one year high of $37.95. The firm has a market cap of $2.09 billion, a PE ratio of -6.16 and a beta of 2.18. The company has a debt-to-equity ratio of 453.47, a quick ratio of 3.61 and a current ratio of 3.63.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.92) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.05) by $0.13. The business had revenue of $28.42 million for the quarter, compared to analysts’ expectations of $25.42 million. Portola Pharmaceuticals had a negative return on equity of 352.12% and a negative net margin of 379.94%. The firm’s revenue was up 608.7% on a year-over-year basis. During the same period in the prior year, the business posted ($1.61) earnings per share. Equities analysts expect that Portola Pharmaceuticals Inc will post -3.85 earnings per share for the current fiscal year.
Portola Pharmaceuticals Profile
Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes novel therapeutics in the areas of thrombosis and other hematologic disorders and inflammation in the United States. The company offers Andexxa, an antidote for patients treated with rivaroxaban and apixaban when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding; and Bevyxxa (betrixaban), an oral, once-daily Factor Xa inhibitor for the prevention of venous thromboembolism in adult patients hospitalized for an acute medical illness.
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