Zacks Investment Research upgraded shares of Portola Pharmaceuticals (NASDAQ:PTLA) from a sell rating to a hold rating in a report released on Saturday.
According to Zacks, “Portola Pharmaceuticals, Inc. is a biopharmaceutical company .It focuses on the development and commercialization of therapeutics for thrombosis, other hematologic disorders and inflammation. Portola Pharmaceuticals, Inc. is headquartered in South San Francisco, California. “
PTLA has been the topic of a number of other reports. Citigroup reaffirmed a buy rating and set a $74.00 target price on shares of Portola Pharmaceuticals in a research report on Thursday, December 28th. Oppenheimer set a $72.00 target price on shares of Portola Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, February 20th. BidaskClub lowered shares of Portola Pharmaceuticals from a sell rating to a strong sell rating in a research report on Friday, January 19th. Finally, Credit Suisse Group reiterated an outperform rating and set a $49.00 price objective (down from $53.00) on shares of Portola Pharmaceuticals in a research note on Tuesday, March 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $67.14.
Shares of NASDAQ:PTLA opened at $30.91 on Friday. Portola Pharmaceuticals has a one year low of $30.10 and a one year 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 issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.41) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.46) by $0.05. The business had revenue of $9.80 million for the quarter, compared to analyst estimates of $3.71 million. Portola Pharmaceuticals had a negative net margin of 1,268.34% and a negative return on equity of 108.43%. The company’s quarterly revenue was down 28.4% compared to the same quarter last year. During the same period last year, the company posted ($0.95) earnings per share. sell-side analysts forecast that Portola Pharmaceuticals will post -4.74 earnings per share for the current fiscal year.
In other Portola Pharmaceuticals news, EVP Tao Fu sold 1,135 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $38.47, for a total value of $43,663.45. Following the completion of the sale, the executive vice president now directly owns 18,346 shares in the company, valued at $705,770.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.50% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in PTLA. Nationwide Fund Advisors boosted its stake in Portola Pharmaceuticals by 20.4% in the third quarter. Nationwide Fund Advisors now owns 62,176 shares of the biopharmaceutical company’s stock valued at $3,359,000 after acquiring an additional 10,526 shares in the last quarter. Sei Investments Co. acquired a new stake in Portola Pharmaceuticals in the third quarter valued at approximately $217,000. Bank of New York Mellon Corp raised its holdings in shares of Portola Pharmaceuticals by 20.3% in the third quarter. Bank of New York Mellon Corp now owns 334,027 shares of the biopharmaceutical company’s stock worth $18,045,000 after buying an additional 56,385 shares during the last quarter. American International Group Inc. raised its holdings in shares of Portola Pharmaceuticals by 18.9% in the third quarter. American International Group Inc. now owns 36,631 shares of the biopharmaceutical company’s stock worth $1,979,000 after buying an additional 5,813 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Portola Pharmaceuticals by 19.0% in the third quarter. Legal & General Group Plc now owns 22,464 shares of the biopharmaceutical company’s stock worth $1,210,000 after buying an additional 3,594 shares during the last quarter. 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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