Portola Pharmaceuticals (NASDAQ:PTLA) received a $67.00 price target from investment analysts at Oppenheimer in a research note issued on Tuesday, March 13th. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Oppenheimer’s price target points to a potential upside of 116.76% from the stock’s current price. Oppenheimer also issued estimates for Portola Pharmaceuticals’ Q1 2018 earnings at ($1.49) EPS, Q2 2018 earnings at ($0.26) EPS, Q3 2018 earnings at ($1.38) EPS, Q4 2018 earnings at ($1.26) EPS, FY2018 earnings at ($4.32) EPS, FY2019 earnings at ($0.44) EPS, FY2020 earnings at $2.59 EPS, FY2021 earnings at $4.03 EPS and FY2022 earnings at $5.67 EPS.
A number of other research firms have also recently weighed in on PTLA. Credit Suisse Group reaffirmed an “outperform” rating and issued a $53.00 price objective (down previously from $68.00) on shares of Portola Pharmaceuticals in a report on Wednesday, February 21st. BidaskClub lowered shares of Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. Morgan Stanley lowered shares of Portola Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $65.00 target price on the stock. in a research report on Thursday, March 1st. Zacks Investment Research lowered shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, February 13th. Finally, William Blair reiterated a “buy” rating on shares of Portola Pharmaceuticals in a research report on Thursday, March 1st. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Portola Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $67.14.
PTLA opened at $30.91 on Tuesday. Portola Pharmaceuticals has a fifty-two week low of $30.10 and a fifty-two week high of $67.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.94 and a quick ratio of 5.92. The firm has a market capitalization of $2,165.14, a price-to-earnings ratio of -6.43 and a beta of 1.49.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($1.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.46) by $0.05. Portola Pharmaceuticals had a negative net margin of 1,268.34% and a negative return on equity of 108.43%. The company had revenue of $9.80 million during the quarter, compared to analysts’ expectations of $3.71 million. During the same quarter in the previous year, the company earned ($0.95) earnings per share. The firm’s revenue for the quarter was down 28.4% on a year-over-year basis. equities analysts anticipate that Portola Pharmaceuticals will post -4.74 EPS for the current year.
In other news, EVP Tao Fu sold 1,135 shares of Portola Pharmaceuticals stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $38.47, for a total value of $43,663.45. Following the sale, the executive vice president now owns 18,346 shares in the company, valued at $705,770.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.50% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. acquired a new position in Portola Pharmaceuticals during the fourth quarter worth about $256,000. Raymond James Financial Services Advisors Inc. boosted its position in Portola Pharmaceuticals by 69.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 7,452 shares of the biopharmaceutical company’s stock worth $403,000 after acquiring an additional 3,044 shares during the last quarter. Harbor Advisors LLC acquired a new position in Portola Pharmaceuticals during the fourth quarter worth about $348,000. Legal & General Group Plc boosted its position in Portola Pharmaceuticals by 19.0% during the third quarter. Legal & General Group Plc now owns 22,464 shares of the biopharmaceutical company’s stock worth $1,210,000 after acquiring an additional 3,594 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in Portola Pharmaceuticals by 36.8% during the third quarter. Prudential Financial Inc. now owns 123,316 shares of the biopharmaceutical company’s stock worth $6,663,000 after acquiring an additional 33,180 shares during the last quarter. Hedge funds and other institutional investors own 88.44% of the company’s stock.
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Portola Pharmaceuticals Company Profile
Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics in the areas of thrombosis, other hematologic disorders, and inflammation. The company is developing Betrixaban, an oral once-daily Factor Xa inhibitor for hospital and extended duration prophylaxis of venous thromboembolism in adults hospitalized for an acute medical illness; Andexanet alfa, a recombinant protein that is in Phase III study for reverse anticoagulant activity in patients treated with fXa inhibitor; and Cerdulatinib, a spleen tyrosine kinase inhibitor, which is in Phase IIa clinical stage to treat hematologic cancers.
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