Portola Pharmaceuticals (PTLA) Trading Up 5.6%

Portola Pharmaceuticals Inc (NASDAQ:PTLA)’s share price was up 5.6% on Thursday . The stock traded as high as $20.94 and last traded at $20.80. Approximately 1,661,270 shares changed hands during trading, an increase of 24% from the average daily volume of 1,341,709 shares. The stock had previously closed at $19.69.

Several equities analysts recently weighed in on PTLA shares. Zacks Investment Research cut Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Cowen reissued a “buy” rating on shares of Portola Pharmaceuticals in a research report on Thursday, August 9th. Oppenheimer set a $70.00 price objective on Portola Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 9th. Credit Suisse Group reissued an “underperform” rating and set a $28.00 price objective (down previously from $49.00) on shares of Portola Pharmaceuticals in a research report on Friday, August 10th. Finally, Citigroup cut their price objective on Portola Pharmaceuticals from $64.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $48.29.

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 (NASDAQ:PTLA) last issued 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). Portola Pharmaceuticals had a negative net margin of 1,503.29% and a negative return on equity of 111.64%. The firm had revenue of $4.01 million for the quarter, compared to the consensus estimate of $6.35 million. During the same quarter in the prior year, the firm earned ($1.22) earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. As a group, analysts forecast that Portola Pharmaceuticals Inc will post -5.84 EPS for the current year.

In other news, Director Jeffrey W. Bird purchased 390,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The shares were purchased at an average cost of $25.84 per share, for a total transaction of $10,077,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey W. Bird purchased 137,563 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were purchased at an average price of $25.17 per share, for a total transaction of $3,462,460.71. The disclosure for this purchase can be found here. Insiders own 4.60% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of PTLA. UBS Group AG increased its stake in Portola Pharmaceuticals by 209.4% during the first quarter. UBS Group AG now owns 147,401 shares of the biopharmaceutical company’s stock valued at $4,814,000 after acquiring an additional 99,764 shares during the period. Guggenheim Capital LLC increased its stake in Portola Pharmaceuticals by 17.0% during the first quarter. Guggenheim Capital LLC now owns 79,354 shares of the biopharmaceutical company’s stock valued at $2,590,000 after acquiring an additional 11,544 shares during the period. Millennium Management LLC grew its stake in shares of Portola Pharmaceuticals by 171.4% in the 1st quarter. Millennium Management LLC now owns 27,959 shares of the biopharmaceutical company’s stock valued at $913,000 after purchasing an additional 17,658 shares during the period. Xact Kapitalforvaltning AB grew its stake in shares of Portola Pharmaceuticals by 34.3% in the 1st quarter. Xact Kapitalforvaltning AB now owns 9,788 shares of the biopharmaceutical company’s stock valued at $320,000 after purchasing an additional 2,500 shares during the period. Finally, Evanson Asset Management LLC bought a new stake in shares of Portola Pharmaceuticals in the 2nd quarter valued at approximately $378,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Portola Pharmaceuticals Company Profile (NASDAQ:PTLA)

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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