Analysts Set Portola Pharmaceuticals Inc (PTLA) Price Target at $48.29

Portola Pharmaceuticals Inc (NASDAQ:PTLA) has been assigned an average recommendation of “Hold” from the eleven ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $48.29.

PTLA has been the topic of several research reports. Oppenheimer set a $60.00 price target on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a report on Sunday, August 26th. Citigroup reduced their target price on shares of Portola Pharmaceuticals from $64.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, August 10th. Cowen reissued a “buy” rating on shares of Portola Pharmaceuticals in a report on Thursday, August 9th. William Blair reissued a “buy” rating on shares of Portola Pharmaceuticals in a report on Monday, August 27th. Finally, Zacks Investment Research raised shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Thursday, October 11th.

In other Portola Pharmaceuticals news, Director Jeffrey W. Bird bought 137,563 shares of Portola Pharmaceuticals stock in a transaction on Tuesday, August 21st. The shares were purchased at an average cost of $25.17 per share, with a total value of $3,462,460.71. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey W. Bird bought 390,000 shares of Portola Pharmaceuticals stock in a transaction on Thursday, August 23rd. The shares were acquired at an average cost of $25.84 per share, for a total transaction of $10,077,600.00. The disclosure for this purchase can be found here. Insiders own 4.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Smith Asset Management Group LP boosted its stake in shares of Portola Pharmaceuticals by 51.1% in the 3rd quarter. Smith Asset Management Group LP now owns 8,100 shares of the biopharmaceutical company’s stock valued at $216,000 after purchasing an additional 2,740 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Portola Pharmaceuticals by 350.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 61,190 shares of the biopharmaceutical company’s stock valued at $1,630,000 after purchasing an additional 47,594 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Portola Pharmaceuticals by 42.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 8,655 shares of the biopharmaceutical company’s stock valued at $231,000 after purchasing an additional 2,576 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Portola Pharmaceuticals by 86.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 240,663 shares of the biopharmaceutical company’s stock valued at $6,414,000 after purchasing an additional 111,663 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Portola Pharmaceuticals by 60.8% in the 3rd quarter. Creative Planning now owns 216,957 shares of the biopharmaceutical company’s stock valued at $5,778,000 after purchasing an additional 82,055 shares during the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Portola Pharmaceuticals stock opened at $19.77 on Monday. The company has a market cap of $1.30 billion, a P/E ratio of -4.11 and a beta of 2.04. The company has a debt-to-equity ratio of 0.91, a quick ratio of 6.59 and a current ratio of 6.69. Portola Pharmaceuticals has a 1 year low of $18.56 and a 1 year high of $56.70.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported ($1.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.49) by ($0.12). The company had revenue of $4.01 million for the quarter, compared to the consensus estimate of $6.35 million. Portola Pharmaceuticals had a negative net margin of 1,503.29% and a negative return on equity of 111.64%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted ($1.22) earnings per share. Equities research analysts forecast that Portola Pharmaceuticals will post -5.84 EPS for the current year.

About Portola Pharmaceuticals

Portola Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics that could advance the fields of thrombosis and other hematologic diseases. The company's two FDA-approved medicines are Andexxa (coagulation factor Xa (recombinant), inactivated-zhzo), an antidote for patients treated with rivaroxaban and apixaban when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding; and Bevyxxa (betrixaban), an oral, once-daily Factor Xa inhibitor for the prevention of VTE in adult patients hospitalized for an acute medical illness.

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