Portola Pharmaceuticals (PTLA) Upgraded by BidaskClub to “Sell”

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Portola Pharmaceuticals (NASDAQ:PTLA) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Wednesday.

Several other research firms have also weighed in on PTLA. Morgan Stanley lowered their price objective on Portola Pharmaceuticals from $34.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 11th. Oppenheimer set a $60.00 price objective on Portola Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, September 20th. ValuEngine lowered Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, October 6th. William Blair reiterated an “outperform” rating on shares of Portola Pharmaceuticals in a research note on Wednesday, December 12th. Finally, Zacks Investment Research upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $37.50.

PTLA stock opened at $23.17 on Wednesday. Portola Pharmaceuticals has a 1-year low of $14.81 and a 1-year high of $55.48. The company has a market capitalization of $1.51 billion, a PE ratio of -4.82 and a beta of 1.89. The company has a debt-to-equity ratio of 1.21, a quick ratio of 6.51 and a current ratio of 6.61.

Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($1.08) earnings per share for the quarter, beating the consensus estimate of ($1.54) by $0.46. Portola Pharmaceuticals had a negative return on equity of 135.08% and a negative net margin of 1,020.52%. The company had revenue of $14.20 million for the quarter, compared to analyst estimates of $7.10 million. During the same period in the prior year, the company posted ($1.41) EPS. The company’s revenue was up 270.8% compared to the same quarter last year. Analysts forecast that Portola Pharmaceuticals will post -5.03 earnings per share for the current year.

In related news, Director Charles J. Homcy sold 64,218 shares of the stock in a transaction that occurred on Monday, December 17th. The stock was sold at an average price of $18.61, for a total transaction of $1,195,096.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.60% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Rhumbline Advisers lifted its stake in shares of Portola Pharmaceuticals by 16.5% in the 2nd quarter. Rhumbline Advisers now owns 63,060 shares of the biopharmaceutical company’s stock valued at $2,382,000 after purchasing an additional 8,948 shares during the period. Russell Investments Group Ltd. increased its position in shares of Portola Pharmaceuticals by 67.9% in the 2nd 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. Schwab Charles Investment Management Inc. increased its position in shares of Portola Pharmaceuticals by 11.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 343,431 shares of the biopharmaceutical company’s stock valued at $12,972,000 after buying an additional 35,818 shares in the last quarter. BlackRock Inc. increased its position in shares of Portola Pharmaceuticals by 12.5% in the 2nd quarter. BlackRock Inc. now owns 5,251,512 shares of the biopharmaceutical company’s stock valued at $198,351,000 after buying an additional 583,581 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Portola Pharmaceuticals in the 2nd quarter valued at $230,000.

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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