BlackRock Inc. reduced its position in shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,667,931 shares of the biopharmaceutical company’s stock after selling 28,660 shares during the period. BlackRock Inc. owned approximately 7.09% of Portola Pharmaceuticals worth $152,454,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC acquired a new position in Portola Pharmaceuticals in the 4th quarter valued at $1,247,000. AXA raised its holdings in Portola Pharmaceuticals by 32.1% in the 4th quarter. AXA now owns 80,600 shares of the biopharmaceutical company’s stock valued at $3,924,000 after acquiring an additional 19,600 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Portola Pharmaceuticals in the 4th quarter valued at $256,000. Xact Kapitalforvaltning AB acquired a new position in Portola Pharmaceuticals in the 4th quarter valued at $355,000. Finally, Endurant Capital Management LP raised its holdings in Portola Pharmaceuticals by 7.2% in the 4th quarter. Endurant Capital Management LP now owns 107,600 shares of the biopharmaceutical company’s stock valued at $5,238,000 after acquiring an additional 7,200 shares in the last quarter. 85.28% of the stock is owned by institutional investors and hedge funds.
Several brokerages have weighed in on PTLA. ValuEngine raised Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Oppenheimer set a $80.00 price target on Portola Pharmaceuticals and gave the stock a “buy” rating in a report on Sunday, May 6th. Citigroup boosted their price target on Portola Pharmaceuticals to $64.00 and gave the stock a “buy” rating in a report on Monday, May 7th. Morgan Stanley reissued an “equal weight” rating and set a $46.00 price target (up previously from $31.00) on shares of Portola Pharmaceuticals in a report on Monday, May 7th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $49.00 price target (down previously from $53.00) on shares of Portola Pharmaceuticals in a report on Tuesday, March 13th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $64.86.
In related news, CEO William Lis sold 5,113 shares of the business’s stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $45.21, for a total transaction of $231,158.73. Following the sale, the chief executive officer now owns 222,035 shares in the company, valued at approximately $10,038,202.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.60% of the stock is currently owned by insiders.
Portola Pharmaceuticals stock opened at $43.73 on Friday. The company has a quick ratio of 7.53, a current ratio of 7.59 and a debt-to-equity ratio of 0.35. Portola Pharmaceuticals Inc has a 52 week low of $30.10 and a 52 week high of $67.10. The firm has a market cap of $2.76 billion, a PE ratio of -9.09 and a beta of 1.50.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.06). Portola Pharmaceuticals had a negative return on equity of 109.35% and a negative net margin of 1,364.89%. The business had revenue of $6.64 million for the quarter, compared to analyst estimates of $3.20 million. During the same period last year, the firm posted ($0.74) EPS. Portola Pharmaceuticals’s quarterly revenue was up 29.7% on a year-over-year basis. research analysts forecast that Portola Pharmaceuticals Inc will post -5.3 EPS for the current year.
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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