Portola Pharmaceuticals (NASDAQ:PTLA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.
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 analysts also recently issued reports on PTLA. Oppenheimer set a $80.00 target price on Portola Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, December 13th. BidaskClub raised Portola Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 21st. Citigroup reaffirmed a “buy” rating and issued a $74.00 target price on shares of Portola Pharmaceuticals in a research note on Thursday, December 28th. William Blair reaffirmed a “buy” rating on shares of Portola Pharmaceuticals in a research note on Monday, January 1st. Finally, ValuEngine raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $67.14.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.46) by $0.05. Portola Pharmaceuticals had a negative return on equity of 108.43% and a negative net margin of 1,268.34%. The business had revenue of $9.80 million during the quarter, compared to the consensus estimate of $3.71 million. During the same period last year, the company earned ($0.95) EPS. The company’s revenue for the quarter was down 28.4% on a year-over-year basis. sell-side analysts forecast that Portola Pharmaceuticals will post -4.74 earnings per share for the current year.
In related news, EVP Tao Fu sold 1,135 shares of the firm’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $38.47, for a total transaction of $43,663.45. Following the completion of the sale, the executive vice president now directly owns 18,346 shares of the company’s stock, valued at approximately $705,770.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the stock. Penbrook Management LLC acquired a new stake in shares of Portola Pharmaceuticals during the 4th quarter worth about $209,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Portola Pharmaceuticals during the 4th quarter worth about $355,000. MetLife Investment Advisors LLC acquired a new stake in shares of Portola Pharmaceuticals during the 4th quarter worth about $1,247,000. Endurant Capital Management LP increased its position in shares of Portola Pharmaceuticals by 7.2% during the 4th quarter. Endurant Capital Management LP now owns 107,600 shares of the biopharmaceutical company’s stock worth $5,238,000 after purchasing an additional 7,200 shares during the last quarter. Finally, Kazazian Asset Management LLC increased its position in shares of Portola Pharmaceuticals by 11.6% during the 4th quarter. Kazazian Asset Management LLC now owns 13,657 shares of the biopharmaceutical company’s stock worth $665,000 after purchasing an additional 1,416 shares during the last quarter. 88.44% of the stock is owned by hedge funds and other institutional investors.
Portola Pharmaceuticals Company Profile
Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics in the areas of thrombosis, other hematologic disorders, and inflammation. The company is developing Betrixaban, an oral once-daily Factor Xa inhibitor for hospital and extended duration prophylaxis of venous thromboembolism in adults hospitalized for an acute medical illness; Andexanet alfa, a recombinant protein that is in Phase III study for reverse anticoagulant activity in patients treated with fXa inhibitor; and Cerdulatinib, a spleen tyrosine kinase inhibitor, which is in Phase IIa clinical stage to treat hematologic cancers.
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