Portola Pharmaceuticals (NASDAQ:PTLA) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
A number of other research firms have also recently commented on PTLA. Credit Suisse Group reissued an “outperform” rating and issued a $53.00 target price (down from $68.00) on shares of Portola Pharmaceuticals in a research note on Wednesday, February 21st. Morgan Stanley cut Portola Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $65.00 target price on the stock. in a research note on Thursday, March 1st. Zacks Investment Research cut Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. William Blair reissued a “buy” rating on shares of Portola Pharmaceuticals in a research note on Thursday, March 1st. Finally, ValuEngine raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Portola Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $67.14.
Shares of PTLA stock opened at $32.38 on Wednesday. The firm has a market capitalization of $2,277.61, a price-to-earnings ratio of -6.77 and a beta of 1.34. Portola Pharmaceuticals has a 12 month low of $30.10 and a 12 month high of $67.10. The company has a quick ratio of 5.92, a current ratio of 5.94 and a debt-to-equity ratio of 0.30.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.41) EPS for the quarter, topping analysts’ consensus estimates of ($1.46) by $0.05. Portola Pharmaceuticals had a negative return on equity of 108.43% and a negative net margin of 1,268.34%. The firm had revenue of $9.80 million for the quarter, compared to analysts’ expectations of $3.71 million. During the same period in the prior year, the firm posted ($0.95) earnings per share. The company’s quarterly revenue was down 28.4% on a year-over-year basis. analysts predict that Portola Pharmaceuticals will post -4.74 EPS for the current year.
In other news, EVP Tao Fu sold 1,135 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $38.47, for a total transaction of $43,663.45. Following the transaction, the executive vice president now directly owns 18,346 shares of the company’s stock, valued at $705,770.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.50% of the company’s stock.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Portola Pharmaceuticals by 6.7% during the fourth quarter. BlackRock Inc. now owns 4,696,591 shares of the biopharmaceutical company’s stock valued at $228,629,000 after purchasing an additional 293,802 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Portola Pharmaceuticals by 13.5% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 826,027 shares of the biopharmaceutical company’s stock valued at $40,211,000 after purchasing an additional 98,215 shares in the last quarter. Fred Alger Management Inc. lifted its holdings in shares of Portola Pharmaceuticals by 4.5% during the fourth quarter. Fred Alger Management Inc. now owns 756,425 shares of the biopharmaceutical company’s stock valued at $36,823,000 after purchasing an additional 32,694 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Portola Pharmaceuticals by 3.7% during the third quarter. JPMorgan Chase & Co. now owns 744,702 shares of the biopharmaceutical company’s stock valued at $40,081,000 after purchasing an additional 26,544 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Portola Pharmaceuticals by 1,367.8% during the fourth quarter. Wells Fargo & Company MN now owns 686,816 shares of the biopharmaceutical company’s stock valued at $33,434,000 after purchasing an additional 640,023 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other 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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