Credit Suisse Group upgraded shares of Portola Pharmaceuticals (NASDAQ:PTLA) from an underperform rating to a neutral rating in a research report sent to investors on Monday morning, Marketbeat.com reports. They currently have $34.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $28.00.
PTLA has been the subject of several other research reports. ValuEngine cut shares of Portola Pharmaceuticals from a hold rating to a sell rating in a research report on Monday, August 13th. BidaskClub cut shares of Portola Pharmaceuticals from a sell rating to a strong sell rating in a research report on Wednesday, August 22nd. William Blair reiterated a buy rating on shares of Portola Pharmaceuticals in a research report on Monday. Oppenheimer set a $80.00 price target on shares of Portola Pharmaceuticals and gave the stock a buy rating in a research report on Sunday, May 6th. Finally, Cowen reiterated a buy rating on shares of Portola Pharmaceuticals in a research report on Thursday, August 9th. Three analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $52.17.
Shares of NASDAQ PTLA opened at $28.29 on Monday. Portola Pharmaceuticals has a 1-year low of $24.63 and a 1-year high of $64.56. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -5.88 and a beta of 1.76. The company has a quick ratio of 6.59, a current ratio of 6.69 and a debt-to-equity ratio of 0.91.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its earnings results on Thursday, August 9th. The biopharmaceutical company reported ($1.61) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.49) by ($0.12). Portola Pharmaceuticals had a negative return on equity of 111.64% and a negative net margin of 1,503.29%. The company had revenue of $4.01 million during the quarter, compared to the consensus estimate of $6.35 million. During the same period in the prior year, the firm posted ($1.22) earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. equities research analysts anticipate that Portola Pharmaceuticals will post -5.77 earnings per share for the current year.
In other Portola Pharmaceuticals news, Director Jeffrey W. Bird purchased 390,000 shares of the stock in a transaction dated Thursday, August 23rd. The stock was bought at an average price of $25.84 per share, for a total transaction of $10,077,600.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William Lis sold 5,113 shares of Portola Pharmaceuticals stock in a transaction that occurred 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 of the company’s stock, valued at approximately $10,038,202.35. The disclosure for this sale can be found here. 4.60% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of PTLA. Alps Advisors Inc. grew its holdings in Portola Pharmaceuticals by 21.0% during the first quarter. Alps Advisors Inc. now owns 87,516 shares of the biopharmaceutical company’s stock valued at $2,858,000 after purchasing an additional 15,210 shares during the period. Oppenheimer & Co. Inc. grew its holdings in Portola Pharmaceuticals by 311.8% during the first quarter. Oppenheimer & Co. Inc. now owns 21,599 shares of the biopharmaceutical company’s stock valued at $705,000 after purchasing an additional 16,354 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in Portola Pharmaceuticals by 29.5% during the first quarter. Kornitzer Capital Management Inc. KS now owns 1,069,944 shares of the biopharmaceutical company’s stock valued at $34,944,000 after purchasing an additional 243,917 shares during the period. SG Americas Securities LLC acquired a new position in Portola Pharmaceuticals during the first quarter valued at approximately $128,000. Finally, Mackay Shields LLC acquired a new position in Portola Pharmaceuticals during the first quarter valued at approximately $660,000. Hedge funds and other institutional investors own 94.26% of the company’s stock.
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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