State Board of Administration of Florida Retirement System boosted its stake in Portola Pharmaceuticals Inc. (NASDAQ:PTLA) by 6.0% during the second quarter, Holdings Channel reports. The institutional investor owned 22,555 shares of the biopharmaceutical company’s stock after buying an additional 1,268 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Portola Pharmaceuticals were worth $532,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. BlackRock Fund Advisors boosted its position in shares of Portola Pharmaceuticals by 4.3% in the first quarter. BlackRock Fund Advisors now owns 1,985,120 shares of the biopharmaceutical company’s stock valued at $40,496,000 after buying an additional 82,609 shares in the last quarter. Wellington Management Group LLP boosted its position in Portola Pharmaceuticals by 25.9% in the first quarter. Wellington Management Group LLP now owns 6,615,240 shares of the biopharmaceutical company’s stock worth $134,951,000 after buying an additional 1,359,683 shares during the period. Deerfield Management Co. boosted its position in Portola Pharmaceuticals by 351.9% in the first quarter. Deerfield Management Co. now owns 3,089,785 shares of the biopharmaceutical company’s stock worth $63,032,000 after buying an additional 2,406,036 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Portola Pharmaceuticals by 13.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,487,058 shares of the biopharmaceutical company’s stock worth $30,336,000 after buying an additional 175,109 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Portola Pharmaceuticals during the first quarter worth $2,503,000. 92.04% of the stock is owned by hedge funds and other institutional investors.
Portola Pharmaceuticals Inc. (NASDAQ:PTLA) traded down 5.81% during trading on Thursday, reaching $21.55. The company had a trading volume of 923,319 shares. The stock’s market cap is $1.22 billion. The company has a 50-day moving average price of $21.92 and a 200 day moving average price of $24.01. Portola Pharmaceuticals Inc. has a 52-week low of $18.20 and a 52-week high of $52.89.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.18. The firm earned $4.23 million during the quarter, compared to analyst estimates of $4.38 million. Portola Pharmaceuticals had a negative return on equity of 67.16% and a negative net margin of 1,229.26%. The firm’s quarterly revenue was up 75.0% on a year-over-year basis. During the same period last year, the company posted ($1.12) EPS. On average, analysts anticipate that Portola Pharmaceuticals Inc. will post ($4.38) earnings per share for the current year.
A number of equities analysts have recently weighed in on the company. Morgan Stanley cut their price target on Portola Pharmaceuticals from $61.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, August 19th. Zacks Investment Research raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Cowen and Company reissued a “buy” rating on shares of Portola Pharmaceuticals in a report on Thursday, August 18th. Credit Suisse Group AG reissued a “hold” rating and issued a $30.00 price target on shares of Portola Pharmaceuticals in a report on Thursday, August 18th. Finally, Citigroup Inc. boosted their price target on Portola Pharmaceuticals from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Portola Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $32.36.
Portola Pharmaceuticals Company Profile
Portola Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics in the areas of thrombosis, other hematologic disorders and inflammation for patients who have limited or no approved treatment options. The Company’s two lead programs, Betrixaban and Andexanet alfa, address unmet medical needs in the area of thrombosis, or blood clots.
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