Equities research analysts predict that Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) will report sales of $2.42 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Portola Pharmaceuticals’ earnings. The highest sales estimate is $2.44 million and the lowest is $2.40 million. Portola Pharmaceuticals reported sales of $4.23 million during the same quarter last year, which would suggest a negative year over year growth rate of 42.8%. The firm is scheduled to announce its next earnings report after the market closes on Wednesday, August 9th.
According to Zacks, analysts expect that Portola Pharmaceuticals will report full-year sales of $2.42 million for the current year, with estimates ranging from $12.33 million to $21.12 million. For the next year, analysts anticipate that the business will report sales of $233.13 million per share, with estimates ranging from $158.00 million to $284.75 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Portola Pharmaceuticals.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.20) by $0.46. Portola Pharmaceuticals had a negative return on equity of 106.68% and a negative net margin of 759.21%. The business had revenue of $5.12 million during the quarter, compared to analyst estimates of $4.21 million. During the same period in the previous year, the firm earned ($1.15) EPS. Portola Pharmaceuticals’s quarterly revenue was down 37.9% compared to the same quarter last year.
PTLA has been the subject of a number of research analyst reports. BidaskClub upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Zacks Investment Research upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Tuesday, July 18th. Citigroup Inc. set a $51.00 target price on Portola Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, April 12th. Oppenheimer Holdings, Inc. lifted their target price on Portola Pharmaceuticals from $66.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Finally, William Blair reiterated an “outperform” rating on shares of Portola Pharmaceuticals in a report on Monday, June 26th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $62.27.
In other Portola Pharmaceuticals news, EVP Tao Fu sold 5,812 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $65.00, for a total value of $377,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John T. Curnutte sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total value of $650,000.00. The disclosure for this sale can be found here. Insiders sold 2,289,656 shares of company stock valued at $91,298,131 in the last three months. Insiders own 4.90% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Portola Pharmaceuticals by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 258 shares during the period. IFP Advisors Inc boosted its stake in shares of Portola Pharmaceuticals by 7.7% in the second quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 170 shares during the period. First Mercantile Trust Co. purchased a new stake in shares of Portola Pharmaceuticals during the first quarter worth approximately $165,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Portola Pharmaceuticals during the first quarter worth approximately $167,000. Finally, Fortaleza Asset Management Inc. purchased a new stake in shares of Portola Pharmaceuticals during the first quarter worth approximately $193,000. 86.26% of the stock is owned by hedge funds and other institutional investors.
Portola Pharmaceuticals (NASDAQ:PTLA) opened at 60.34 on Wednesday. The firm’s market capitalization is $3.44 billion. Portola Pharmaceuticals has a 12 month low of $15.68 and a 12 month high of $67.10. The company has a 50 day moving average price of $57.73 and a 200 day moving average price of $41.22.
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About Portola Pharmaceuticals
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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