US Bancorp DE Decreases Position in Portola Pharmaceuticals Inc (PTLA)

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US Bancorp DE trimmed its position in shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 4.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 42,416 shares of the biopharmaceutical company’s stock after selling 2,203 shares during the quarter. US Bancorp DE’s holdings in Portola Pharmaceuticals were worth $1,602,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PTLA. Wells Fargo & Company MN raised its holdings in shares of Portola Pharmaceuticals by 686.7% during the 2nd quarter. Wells Fargo & Company MN now owns 441,693 shares of the biopharmaceutical company’s stock valued at $16,683,000 after buying an additional 385,547 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Portola Pharmaceuticals by 1,198.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 157,196 shares of the biopharmaceutical company’s stock valued at $5,937,000 after buying an additional 145,094 shares in the last quarter. Fred Alger Management Inc. raised its holdings in shares of Portola Pharmaceuticals by 15.3% during the 2nd quarter. Fred Alger Management Inc. now owns 1,036,073 shares of the biopharmaceutical company’s stock valued at $39,132,000 after buying an additional 137,434 shares in the last quarter. UBS Group AG raised its holdings in shares of Portola Pharmaceuticals by 209.4% during the 1st quarter. UBS Group AG now owns 147,401 shares of the biopharmaceutical company’s stock valued at $4,814,000 after buying an additional 99,764 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of Portola Pharmaceuticals by 9.0% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 1,166,721 shares of the biopharmaceutical company’s stock valued at $44,067,000 after buying an additional 96,777 shares in the last quarter. 94.26% of the stock is currently owned by institutional investors.

Shares of Portola Pharmaceuticals stock opened at $28.72 on Friday. 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 Inc has a one year low of $24.63 and a one year high of $59.32.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported ($1.61) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.49) by ($0.12). The company had revenue of $4.01 million during the quarter, compared to analysts’ expectations of $6.35 million. Portola Pharmaceuticals had a negative return on equity of 111.64% and a negative net margin of 1,503.29%. Portola Pharmaceuticals’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned ($1.22) earnings per share. analysts anticipate that Portola Pharmaceuticals Inc will post -5.77 earnings per share for the current fiscal year.

PTLA has been the topic of a number of research reports. ValuEngine raised Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, May 29th. Zacks Investment Research raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, August 4th. Oppenheimer set a $70.00 price objective on Portola Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, August 9th. Credit Suisse Group reissued an “underperform” rating and set a $28.00 price objective (down from $49.00) on shares of Portola Pharmaceuticals in a report on Friday, August 10th. Finally, Citigroup decreased their price objective on Portola Pharmaceuticals from $64.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Portola Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $52.17.

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

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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Institutional Ownership by Quarter for Portola Pharmaceuticals (NASDAQ:PTLA)

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