Portola Pharmaceuticals (NASDAQ:PTLA) has been assigned a $30.00 price objective by research analysts at Oppenheimer in a report issued on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Oppenheimer’s price objective would indicate a potential upside of 36.67% from the stock’s previous close.
A number of other research analysts have also recently commented on the company. ValuEngine cut Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, October 6th. William Blair reiterated a “buy” rating on shares of Portola Pharmaceuticals in a research note on Wednesday, September 12th. Credit Suisse Group upgraded Portola Pharmaceuticals from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $28.00 to $34.00 in a research note on Monday, August 27th. Zacks Investment Research upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, August 4th. Finally, BidaskClub cut Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $43.43.
NASDAQ:PTLA opened at $21.95 on Thursday. 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 has a 52 week low of $18.18 and a 52 week high of $56.70. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -4.56 and a beta of 2.04.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($1.08) EPS for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.46. 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 $14.20 million for the quarter, compared to analysts’ expectations of $7.10 million. During the same period in the prior year, the firm earned ($1.41) earnings per share. The firm’s revenue was up 270.8% compared to the same quarter last year. As a group, analysts anticipate that Portola Pharmaceuticals will post -5.85 EPS for the current fiscal year.
In related news, Director Jeffrey W. Bird acquired 390,000 shares of Portola Pharmaceuticals stock in a transaction dated Thursday, August 23rd. The shares were acquired at an average cost of $25.84 per share, for a total transaction of $10,077,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey W. Bird acquired 137,563 shares of Portola Pharmaceuticals stock in a transaction dated 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 disclosure for this purchase can be found here. 4.60% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PTLA. Raymond James & Associates raised its stake in Portola Pharmaceuticals by 102.9% in the second quarter. Raymond James & Associates now owns 40,302 shares of the biopharmaceutical company’s stock valued at $1,522,000 after buying an additional 20,441 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Portola Pharmaceuticals by 67.9% in the second quarter. Russell Investments Group Ltd. now owns 129,000 shares of the biopharmaceutical company’s stock valued at $4,872,000 after buying an additional 52,148 shares in the last quarter. Harvey Capital Management Inc. raised its stake in Portola Pharmaceuticals by 17.3% in the third quarter. Harvey Capital Management Inc. now owns 184,672 shares of the biopharmaceutical company’s stock valued at $4,917,000 after buying an additional 27,192 shares in the last quarter. MetLife Investment Advisors LLC raised its stake in Portola Pharmaceuticals by 16.9% in the second quarter. MetLife Investment Advisors LLC now owns 29,932 shares of the biopharmaceutical company’s stock valued at $1,131,000 after buying an additional 4,318 shares in the last quarter. Finally, Sector Gamma AS raised its stake in Portola Pharmaceuticals by 49.0% in the second quarter. Sector Gamma AS now owns 200,800 shares of the biopharmaceutical company’s stock valued at $7,584,000 after buying an additional 66,000 shares in the last quarter. Institutional investors and hedge funds own 94.47% of the company’s stock.
Portola Pharmaceuticals Company Profile
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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