Portola Pharmaceuticals (NASDAQ:PTLA) had its price objective lowered by equities researchers at Credit Suisse Group from $34.00 to $30.00 in a report issued on Thursday. The firm presently has a “hold” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s target price indicates a potential upside of 36.12% from the stock’s current price.
Several other equities research analysts also recently commented on PTLA. Zacks Investment Research downgraded shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Cowen restated a “buy” rating on shares of Portola Pharmaceuticals in a research report on Thursday, August 9th. Oppenheimer set a $70.00 price target on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 9th. Citigroup reduced their price target on shares of Portola Pharmaceuticals from $64.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, August 10th. Finally, Morgan Stanley reduced their price target on shares of Portola Pharmaceuticals from $45.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, August 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $43.43.
Shares of NASDAQ:PTLA traded down $1.10 during mid-day trading on Thursday, hitting $22.04. The stock had a trading volume of 40,108 shares, compared to its average volume of 1,482,546. The company has a debt-to-equity ratio of 0.91, a quick ratio of 6.59 and a current ratio of 6.69. The company has a market cap of $1.23 billion, a PE ratio of -4.58 and a beta of 2.04. Portola Pharmaceuticals has a 12-month low of $18.18 and a 12-month high of $56.70.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($1.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.54) by $0.46. The business had revenue of $14.20 million during the quarter, compared to the consensus estimate of $7.10 million. Portola Pharmaceuticals had a negative net margin of 1,503.29% and a negative return on equity of 111.64%. The firm’s quarterly revenue was up 270.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.41) EPS. On average, equities analysts predict that Portola Pharmaceuticals will post -5.85 earnings per share for the current year.
In related news, Director Jeffrey W. Bird bought 137,563 shares of the business’s stock in a transaction on Tuesday, August 21st. The stock was bought at an average price of $25.17 per share, for a total transaction of $3,462,460.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey W. Bird bought 390,000 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was bought at an average price of $25.84 per share, with a total value of $10,077,600.00. The disclosure for this purchase can be found here. 4.60% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC bought a new position in shares of Portola Pharmaceuticals during the 2nd quarter valued at $191,000. BB&T Securities LLC bought a new position in shares of Portola Pharmaceuticals during the 2nd quarter valued at $201,000. Smith Asset Management Group LP raised its holdings in shares of Portola Pharmaceuticals by 51.1% during 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 in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Portola Pharmaceuticals during the 2nd quarter valued at $230,000. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Portola Pharmaceuticals during the 2nd quarter valued at $234,000. Institutional investors own 94.47% of the company’s stock.
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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