Portola Pharmaceuticals (NASDAQ:PTLA)‘s stock had its “outperform” rating restated by equities researchers at Credit Suisse Group in a research note issued on Tuesday, March 13th, MarketBeat reports. They presently have a $49.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $53.00. Credit Suisse Group’s price target indicates a potential upside of 58.52% from the company’s previous close.
A number of other research firms also recently commented on PTLA. BidaskClub upgraded Portola Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 21st. Oppenheimer set a $80.00 price target on Portola Pharmaceuticals and gave the company a “buy” rating in a report on Monday, January 15th. ValuEngine raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, Goldman Sachs started coverage on Portola Pharmaceuticals in a report on Friday, December 1st. They set a “buy” rating and a $75.00 target price on the stock. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $67.14.
Shares of PTLA stock traded down $1.29 during mid-day trading on Tuesday, hitting $30.91. 706,040 shares of the company’s stock were exchanged, compared to its average volume of 1,245,819. The company has a quick ratio of 5.92, a current ratio of 5.94 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $2,165.14, a price-to-earnings ratio of -6.43 and a beta of 1.49. Portola Pharmaceuticals has a fifty-two week low of $30.10 and a fifty-two week high of $67.10.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($1.41) EPS for the quarter, beating the consensus estimate 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 company had revenue of $9.80 million for the quarter, compared to analyst estimates of $3.71 million. During the same period last year, the company posted ($0.95) earnings per share. The firm’s revenue was down 28.4% compared to the same quarter last year. analysts anticipate that Portola Pharmaceuticals will post -4.74 earnings per share for the current fiscal year.
In other news, EVP Tao Fu sold 1,135 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $38.47, for a total transaction of $43,663.45. Following the completion of the transaction, the executive vice president now owns 18,346 shares of the company’s stock, valued at $705,770.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.50% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. grew its stake in Portola Pharmaceuticals by 251.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 2,862 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 2,047 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Portola Pharmaceuticals by 54.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,219 shares of the biopharmaceutical company’s stock valued at $157,000 after purchasing an additional 1,141 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Portola Pharmaceuticals during the third quarter valued at approximately $178,000. Sei Investments Co. bought a new stake in shares of Portola Pharmaceuticals during the third quarter valued at approximately $217,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Portola Pharmaceuticals in the third quarter valued at approximately $218,000. 88.44% of the stock is currently owned by hedge funds and other institutional investors.
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About Portola Pharmaceuticals
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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