Family Management Corp Acquires New Holdings in Portola Pharmaceuticals Inc (NASDAQ:PTLA)

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Family Management Corp acquired a new stake in Portola Pharmaceuticals Inc (NASDAQ:PTLA) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 19,500 shares of the biopharmaceutical company’s stock, valued at approximately $529,000.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Portola Pharmaceuticals by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,985,834 shares of the biopharmaceutical company’s stock valued at $162,396,000 after buying an additional 151,150 shares in the last quarter. BlackRock Inc. boosted its stake in Portola Pharmaceuticals by 3.6% in the 2nd quarter. BlackRock Inc. now owns 5,324,948 shares of the biopharmaceutical company’s stock valued at $144,466,000 after buying an additional 186,304 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Portola Pharmaceuticals by 20.3% in the 2nd quarter. William Blair Investment Management LLC now owns 4,997,224 shares of the biopharmaceutical company’s stock valued at $135,575,000 after buying an additional 842,354 shares in the last quarter. Cadian Capital Management LP boosted its stake in Portola Pharmaceuticals by 2.9% in the 2nd quarter. Cadian Capital Management LP now owns 4,091,687 shares of the biopharmaceutical company’s stock valued at $111,007,000 after buying an additional 116,789 shares in the last quarter. Finally, Fiera Capital Corp acquired a new stake in Portola Pharmaceuticals in the 1st quarter valued at $53,590,000.

In other Portola Pharmaceuticals news, Director Hollings Renton sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $30.00, for a total value of $150,000.00. Following the completion of the transaction, the director now directly owns 18,194 shares of the company’s stock, valued at $545,820. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.50% of the stock is owned by insiders.

Several brokerages recently commented on PTLA. Credit Suisse Group reaffirmed a “neutral” rating and issued a $35.00 price target on shares of Portola Pharmaceuticals in a research note on Monday, August 5th. Morgan Stanley began coverage on Portola Pharmaceuticals in a research note on Thursday, September 5th. They issued a “hold” rating and a $37.00 price target on the stock. Zacks Investment Research lowered Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. William Blair reaffirmed a “buy” rating on shares of Portola Pharmaceuticals in a research note on Friday, August 9th. Finally, Cowen reaffirmed a “buy” rating and issued a $45.00 price target on shares of Portola Pharmaceuticals in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Portola Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $38.33.

Shares of PTLA stock traded up $0.25 on Friday, reaching $30.47. 4,324 shares of the stock were exchanged, compared to its average volume of 917,259. The company has a debt-to-equity ratio of 453.47, a current ratio of 3.63 and a quick ratio of 3.61. Portola Pharmaceuticals Inc has a one year low of $14.81 and a one year high of $37.95. The stock has a 50 day moving average price of $28.92 and a 200 day moving average price of $30.23. The stock has a market cap of $2.09 billion, a PE ratio of -6.12 and a beta of 2.13.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.92) EPS for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.13. Portola Pharmaceuticals had a negative return on equity of 352.12% and a negative net margin of 379.94%. The business had revenue of $28.42 million during the quarter, compared to analysts’ expectations of $25.42 million. During the same period in the previous year, the firm earned ($1.61) earnings per share. The firm’s quarterly revenue was up 608.7% compared to the same quarter last year. On average, research analysts expect that Portola Pharmaceuticals Inc will post -3.71 earnings per share for the current fiscal year.

About Portola Pharmaceuticals

Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes novel therapeutics in the areas of thrombosis and other hematologic disorders and inflammation in the United States. The company offers Andexxa, 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 venous thromboembolism in adult patients hospitalized for an acute medical illness.

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Institutional Ownership by Quarter for Portola Pharmaceuticals (NASDAQ:PTLA)

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