Zacks Investment Research Downgrades Portola Pharmaceuticals (PTLA) to Sell

Portola Pharmaceuticals (NASDAQ:PTLA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

According to Zacks, “Portola Pharmaceuticals, Inc. is a biopharmaceutical company .It focuses on the development and commercialization of therapeutics for thrombosis, other hematologic disorders and inflammation. Portola Pharmaceuticals, Inc. is headquartered in South San Francisco, California. “

A number of other research firms have also issued reports on PTLA. Oppenheimer reaffirmed a “buy” rating and set a $80.00 target price on shares of Portola Pharmaceuticals in a report on Wednesday, September 6th. BidaskClub lowered Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Thursday, December 7th. William Blair reiterated a “buy” rating on shares of Portola Pharmaceuticals in a research report on Monday, January 1st. Morgan Stanley reiterated an “overweight” rating and issued a $81.00 price target (up previously from $75.00) on shares of Portola Pharmaceuticals in a research report on Friday, October 6th. Finally, Goldman Sachs Group assumed coverage on Portola Pharmaceuticals in a research report on Friday, December 1st. They issued a “buy” rating and a $75.00 price target for the company. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $70.65.

Portola Pharmaceuticals (NASDAQ PTLA) opened at $48.69 on Thursday. The stock has a market capitalization of $3,180.00, a PE ratio of -11.27 and a beta of 1.21. Portola Pharmaceuticals has a fifty-two week low of $23.70 and a fifty-two week high of $67.10. The company has a current ratio of 8.31, a quick ratio of 8.31 and a debt-to-equity ratio of 0.24.

Portola Pharmaceuticals (NASDAQ:PTLA) last released its earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.08. The firm had revenue of $3.83 million for the quarter, compared to analyst estimates of $4.71 million. Portola Pharmaceuticals had a negative return on equity of 110.46% and a negative net margin of 938.19%. Portola Pharmaceuticals’s revenue was down 58.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.64) earnings per share. analysts anticipate that Portola Pharmaceuticals will post -4.94 EPS for the current year.

In other Portola Pharmaceuticals news, Director Henry Ward Wolff sold 12,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $47.00, for a total transaction of $564,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Portola Pharmaceuticals by 0.9% during the 2nd quarter. BlackRock Inc. now owns 4,071,966 shares of the biopharmaceutical company’s stock worth $228,721,000 after acquiring an additional 37,241 shares during the period. State Street Corp boosted its position in Portola Pharmaceuticals by 5.3% during the 2nd quarter. State Street Corp now owns 2,085,838 shares of the biopharmaceutical company’s stock worth $117,164,000 after acquiring an additional 105,207 shares during the period. JPMorgan Chase & Co. boosted its position in Portola Pharmaceuticals by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 744,702 shares of the biopharmaceutical company’s stock worth $40,081,000 after acquiring an additional 26,544 shares during the period. Kornitzer Capital Management Inc. KS boosted its position in Portola Pharmaceuticals by 38.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 727,812 shares of the biopharmaceutical company’s stock worth $39,324,000 after acquiring an additional 202,925 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Portola Pharmaceuticals by 17.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 688,092 shares of the biopharmaceutical company’s stock worth $38,650,000 after acquiring an additional 101,046 shares during the period. Hedge funds and other institutional investors own 87.25% of the company’s stock.

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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 having 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.

Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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