Citigroup reiterated their buy rating on shares of Portola Pharmaceuticals (NASDAQ:PTLA) in a report issued on Thursday, December 28th. They currently have a $74.00 target price on the biopharmaceutical company’s stock.
A number of other equities research analysts have also weighed in on PTLA. Oppenheimer reissued a buy rating and set a $80.00 price objective on shares of Portola Pharmaceuticals in a report on Wednesday, September 6th. Morgan Stanley reissued an overweight rating and set a $81.00 price objective (up from $75.00) on shares of Portola Pharmaceuticals in a report on Friday, October 6th. Goldman Sachs Group assumed coverage on shares of Portola Pharmaceuticals in a report on Friday, December 1st. They issued a buy rating and a $75.00 price target on the stock. Finally, BidaskClub lowered shares of Portola Pharmaceuticals from a sell rating to a strong sell rating in a report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $70.65.
Portola Pharmaceuticals (NASDAQ:PTLA) opened at $52.62 on Thursday. 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 has a 12 month low of $24.15 and a 12 month high of $67.10. The company has a market cap of $3,430.00, a P/E ratio of -12.18 and a beta of 1.21.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.49) by $0.08. Portola Pharmaceuticals had a negative net margin of 938.19% and a negative return on equity of 110.46%. The business had revenue of $3.83 million for the quarter, compared to analyst estimates of $4.71 million. During the same period in the previous year, the company earned ($1.64) earnings per share. The business’s revenue for the quarter was down 58.9% on a year-over-year basis. analysts forecast that Portola Pharmaceuticals will post -4.94 EPS for the current fiscal year.
In related news, Director Henry Ward Wolff sold 12,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $47.00, for a total transaction of $564,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in 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 acquiring an additional 258 shares in the last quarter. Jacobi Capital Management LLC purchased a new stake in shares of Portola Pharmaceuticals in the 2nd quarter valued at approximately $125,000. QS Investors LLC purchased a new stake in shares of Portola Pharmaceuticals in the 2nd quarter valued at approximately $147,000. Oppenheimer Asset Management Inc. grew its stake in shares of Portola Pharmaceuticals by 251.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,862 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 2,047 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Portola Pharmaceuticals in the 3rd quarter valued at approximately $178,000. 87.25% of the stock is owned by institutional investors.
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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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