Portola Pharmaceuticals (NASDAQ:PTLA) – Equities researchers at William Blair decreased their Q1 2018 EPS estimates for Portola Pharmaceuticals in a research report issued to clients and investors on Tuesday, March 13th, according to Zacks Investment Research. William Blair analyst M. Phipps now anticipates that the biopharmaceutical company will post earnings per share of ($1.42) for the quarter, down from their prior estimate of ($1.41). William Blair currently has a “Buy” rating on the stock. William Blair also issued estimates for Portola Pharmaceuticals’ Q4 2018 earnings at ($0.90) EPS, FY2018 earnings at ($4.57) EPS, FY2019 earnings at ($0.57) EPS and FY2020 earnings at $3.56 EPS.
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 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 firm had revenue of $9.80 million during the quarter, compared to the consensus estimate of $3.71 million. During the same period last year, the business posted ($0.95) EPS. Portola Pharmaceuticals’s quarterly revenue was down 28.4% on a year-over-year basis.
Other equities analysts also recently issued reports about the company. Oppenheimer set a $80.00 price objective on Portola Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, December 19th. Citigroup reiterated a “buy” rating and set a $74.00 target price on shares of Portola Pharmaceuticals in a report on Thursday, December 28th. 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 report on Thursday, March 1st. ValuEngine upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Portola Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $67.14.
NASDAQ PTLA traded down $1.29 during mid-day trading on Thursday, hitting $30.91. The stock had a trading volume of 706,040 shares, compared to its average volume of 1,248,273. Portola Pharmaceuticals has a 52-week low of $30.10 and a 52-week high of $67.10. The company has a market capitalization of $2,021.27, a P/E ratio of -6.43 and a beta of 1.49. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.94 and a quick ratio of 5.92.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted 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 worth $228,629,000 after purchasing an additional 293,802 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted 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 worth $40,211,000 after purchasing an additional 98,215 shares during the last quarter. Fred Alger Management Inc. boosted 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 worth $36,823,000 after purchasing an additional 32,694 shares during the last quarter. JPMorgan Chase & Co. boosted 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 worth $40,081,000 after purchasing an additional 26,544 shares during the last quarter. Finally, Wells Fargo & Company MN boosted 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 worth $33,434,000 after purchasing an additional 640,023 shares during the last quarter. Institutional investors and hedge funds own 88.44% of the company’s stock.
In other Portola Pharmaceuticals news, EVP Tao Fu sold 1,135 shares of the 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 sale, the executive vice president now owns 18,346 shares in the company, valued at approximately $705,770.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.50% of the stock is currently owned by corporate insiders.
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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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