Harvey Capital Management Inc. trimmed its holdings in Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,730 shares of the biopharmaceutical company’s stock after selling 2,025 shares during the period. Portola Pharmaceuticals makes up 3.1% of Harvey Capital Management Inc.’s investment portfolio, making the stock its 12th biggest holding. Harvey Capital Management Inc. owned approximately 0.25% of Portola Pharmaceuticals worth $7,765,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PTLA. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Portola Pharmaceuticals by 14.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock valued at $117,000 after purchasing an additional 258 shares in the last quarter. Jacobi Capital Management LLC purchased a new position in shares of Portola Pharmaceuticals during the 2nd quarter valued at $125,000. IFP Advisors Inc grew its position in shares of Portola Pharmaceuticals by 7.7% during the 2nd quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 170 shares in the last quarter. QS Investors LLC purchased a new position in Portola Pharmaceuticals in the second quarter worth $147,000. Finally, Canada Pension Plan Investment Board purchased a new position in Portola Pharmaceuticals in the third quarter worth $178,000. Hedge funds and other institutional investors own 87.45% of the company’s stock.
PTLA has been the subject of several recent research reports. Morgan Stanley reissued an “overweight” rating and issued a $81.00 price target (up from $75.00) on shares of Portola Pharmaceuticals in a research note on Friday, October 6th. Credit Suisse Group raised shares of Portola Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $70.00 price target for the company in a research note on Wednesday, August 23rd. Oppenheimer set a $80.00 price target on shares of Portola Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, October 6th. BidaskClub raised shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Goldman Sachs Group began coverage on shares of Portola Pharmaceuticals in a research note on Friday, December 1st. They set a “buy” rating and a $75.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $71.15.
Shares of Portola Pharmaceuticals Inc (NASDAQ PTLA) opened at $52.71 on Friday. Portola Pharmaceuticals Inc has a fifty-two week low of $17.48 and a fifty-two week high of $67.10. The company has a quick ratio of 8.31, a current ratio of 8.31 and a debt-to-equity ratio of 0.24.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.49) by $0.08. The firm had revenue of $3.83 million for the quarter, compared to analysts’ expectations of $4.71 million. Portola Pharmaceuticals had a negative net margin of 938.19% and a negative return on equity of 110.46%. The business’s revenue for the quarter was down 58.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.64) earnings per share. analysts forecast that Portola Pharmaceuticals Inc will post -4.95 EPS for the current year.
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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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