Portola Pharmaceuticals Inc (NASDAQ:PTLA) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $22.13 and last traded at $22.72, with a volume of 135328 shares trading hands. The stock had previously closed at $23.37.
A number of equities research analysts have recently issued reports on PTLA shares. Citigroup cut their price target 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. Oppenheimer set a $70.00 price target on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, August 9th. Cowen restated a “buy” rating on shares of Portola Pharmaceuticals in a report on Thursday, August 9th. William Blair restated a “buy” rating on shares of Portola Pharmaceuticals in a report on Monday, August 27th. Finally, Zacks Investment Research upgraded shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Portola Pharmaceuticals has an average rating of “Hold” and an average target price of $48.29.
The company has a current ratio of 6.69, a quick ratio of 6.59 and a debt-to-equity ratio of 0.91. The firm has a market cap of $1.76 billion, a PE ratio of -4.90 and a beta of 1.64.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported ($1.61) earnings per share (EPS) for the quarter, missing the Zacks’ 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 analyst estimates of $6.35 million. During the same quarter in the prior year, the firm earned ($1.22) EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts forecast that Portola Pharmaceuticals Inc will post -5.77 earnings per share for the current fiscal year.
In related news, Director Jeffrey W. Bird acquired 137,563 shares of the company’s stock in a transaction 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey W. Bird acquired 390,000 shares of the company’s stock in a transaction on 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 disclosure for this purchase can be found here. 4.60% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC acquired a new position in Portola Pharmaceuticals in the 2nd quarter valued at approximately $191,000. BB&T Securities LLC acquired a new position in Portola Pharmaceuticals in the 2nd quarter valued at approximately $201,000. Oppenheimer Asset Management Inc. acquired a new position in Portola Pharmaceuticals in the 2nd quarter valued at approximately $230,000. Quantitative Systematic Strategies LLC acquired a new position in Portola Pharmaceuticals in the 2nd quarter valued at approximately $234,000. Finally, Xact Kapitalforvaltning AB increased its stake in 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 buying an additional 2,500 shares during the period. Hedge funds and other institutional investors own 94.25% of the company’s stock.
About Portola Pharmaceuticals (NASDAQ:PTLA)
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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