Oppenheimer Reaffirms “Buy” Rating for Portola Pharmaceuticals (PTLA)

Oppenheimer reiterated their buy rating on shares of Portola Pharmaceuticals (NASDAQ:PTLA) in a research note published on Wednesday morning.

A number of other brokerages have also commented on PTLA. Credit Suisse Group reiterated an outperform rating and issued a $53.00 price objective (down from $68.00) on shares of Portola Pharmaceuticals in a research report on Wednesday, February 21st. BidaskClub lowered Portola Pharmaceuticals from a sell rating to a strong sell rating in a research report on Thursday, December 7th. Morgan Stanley lowered Portola Pharmaceuticals from an overweight rating to an equal weight rating and set a $65.00 price target on the stock. in a research report on Thursday, March 1st. Zacks Investment Research lowered Portola Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, February 13th. Finally, William Blair restated a buy rating on shares of Portola Pharmaceuticals in a research report on Thursday, March 1st. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. Portola Pharmaceuticals presently has an average rating of Hold and an average price target of $67.14.

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PTLA stock opened at $30.57 on Wednesday. The company has a quick ratio of 5.92, a current ratio of 5.94 and a debt-to-equity ratio of 0.30. Portola Pharmaceuticals has a 12-month low of $30.10 and a 12-month high of $67.10.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($1.41) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.46) by $0.05. The firm had revenue of $9.80 million for the quarter, compared to analyst estimates of $3.71 million. Portola Pharmaceuticals had a negative return on equity of 108.43% and a negative net margin of 1,268.34%. The business’s quarterly revenue was down 28.4% compared to the same quarter last year. During the same period last year, the company earned ($0.95) EPS. equities research analysts anticipate that Portola Pharmaceuticals will post -4.74 EPS for the current year.

In other news, EVP Tao Fu sold 1,135 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $38.47, for a total value of $43,663.45. Following the transaction, the executive vice president now directly owns 18,346 shares in the company, valued at approximately $705,770.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Oppenheimer & Co. Inc. bought a new position in Portola Pharmaceuticals during the fourth quarter worth about $256,000. Raymond James Financial Services Advisors Inc. lifted its holdings in Portola Pharmaceuticals by 69.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 7,452 shares of the biopharmaceutical company’s stock worth $403,000 after acquiring an additional 3,044 shares in the last quarter. Harbor Advisors LLC bought a new position in Portola Pharmaceuticals during the fourth quarter worth about $348,000. Legal & General Group Plc lifted its holdings in Portola Pharmaceuticals by 19.0% during the third quarter. Legal & General Group Plc now owns 22,464 shares of the biopharmaceutical company’s stock worth $1,210,000 after acquiring an additional 3,594 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Portola Pharmaceuticals by 36.8% during the third quarter. Prudential Financial Inc. now owns 123,316 shares of the biopharmaceutical company’s stock worth $6,663,000 after acquiring an additional 33,180 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

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About Portola Pharmaceuticals

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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