Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, August 8th.
According to Zacks, “Portola Pharmaceuticals, Inc. is a biopharmaceutical company .It focuses on the development and commercialization of therapeutics for thrombosis, other hematologic disorders and inflammation. Portola Pharmaceuticals, Inc. is headquartered in South San Francisco, California. “
Other analysts have also issued reports about the company. Citigroup Inc. set a $51.00 target price on Portola Pharmaceuticals and gave the stock a “buy” rating in a report on Saturday, June 17th. William Blair reissued an “outperform” rating on shares of Portola Pharmaceuticals in a report on Monday, June 26th. Oppenheimer Holdings, Inc. increased their target price on Portola Pharmaceuticals from $46.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, June 26th. BidaskClub raised Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Finally, Morgan Stanley increased their target price on Portola Pharmaceuticals from $50.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Portola Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $63.77.
Shares of Portola Pharmaceuticals (PTLA) traded up 1.45% on Tuesday, reaching $53.99. The company had a trading volume of 694,590 shares. The firm’s market capitalization is $3.11 billion. Portola Pharmaceuticals has a 52-week low of $15.68 and a 52-week high of $67.10. The company’s 50-day moving average price is $60.53 and its 200-day moving average price is $43.46.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by $0.12. Portola Pharmaceuticals had a negative net margin of 807.93% and a negative return on equity of 145.12%. The firm had revenue of $3.79 million during the quarter, compared to analyst estimates of $4.28 million. During the same period in the prior year, the company earned ($1.02) earnings per share. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, analysts predict that Portola Pharmaceuticals will post ($4.86) earnings per share for the current year.
In other Portola Pharmaceuticals news, insider John T. Curnutte sold 10,000 shares of the stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $65.00, for a total value of $650,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Tao Fu sold 5,812 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total value of $377,780.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,289,656 shares of company stock valued at $91,298,131. 4.90% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 purchased a new position in Portola Pharmaceuticals during the second quarter valued at approximately $125,000. IFP Advisors Inc increased its position 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 purchased a new position in Portola Pharmaceuticals during the second quarter valued at approximately $147,000. Finally, First Mercantile Trust Co. purchased a new position in Portola Pharmaceuticals during the first quarter valued at approximately $165,000. Hedge funds and other institutional investors own 86.47% 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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