Portola Pharmaceuticals (NASDAQ:PTLA) PT Lowered to $44.00

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Portola Pharmaceuticals (NASDAQ:PTLA) had its price target reduced by Citigroup from $51.00 to $44.00 in a report published on Wednesday, AnalystRatings.com reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other research firms also recently commented on PTLA. William Blair reissued a buy rating on shares of Portola Pharmaceuticals in a report on Friday, August 9th. BidaskClub downgraded Portola Pharmaceuticals from a sell rating to a strong sell rating in a report on Thursday, September 26th. Morgan Stanley started coverage on Portola Pharmaceuticals in a report on Thursday, September 5th. They issued a hold rating and a $37.00 target price on the stock. ValuEngine downgraded Portola Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, October 2nd. Finally, Cowen reissued a buy rating and issued a $45.00 target price on shares of Portola Pharmaceuticals in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $39.29.

Shares of NASDAQ PTLA traded up $0.68 during mid-day trading on Wednesday, hitting $26.93. 401,144 shares of the stock traded hands, compared to its average volume of 845,385. The company has a debt-to-equity ratio of 453.47, a quick ratio of 3.61 and a current ratio of 3.63. Portola Pharmaceuticals has a 52 week low of $14.81 and a 52 week high of $37.95. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -5.38 and a beta of 2.09. The stock has a fifty day moving average price of $28.43 and a 200-day moving average price of $29.63.

Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.92) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $28.42 million for the quarter, compared to analyst estimates of $25.42 million. During the same period in the previous year, the company posted ($1.61) earnings per share. The firm’s revenue was up 608.7% on a year-over-year basis. As a group, sell-side analysts predict that Portola Pharmaceuticals will post -3.71 EPS for the current fiscal year.

In other Portola Pharmaceuticals news, Director Hollings Renton sold 5,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $30.00, for a total value of $150,000.00. Following the sale, the director now directly owns 18,194 shares of the company’s stock, valued at $545,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in PTLA. Advisor Group Inc. raised its stake in shares of Portola Pharmaceuticals by 7.9% in the second quarter. Advisor Group Inc. now owns 9,302 shares of the biopharmaceutical company’s stock worth $252,000 after purchasing an additional 681 shares during the last quarter. Empire Life Investments Inc. raised its stake in shares of Portola Pharmaceuticals by 1.6% in the second quarter. Empire Life Investments Inc. now owns 59,159 shares of the biopharmaceutical company’s stock worth $1,604,000 after purchasing an additional 940 shares during the last quarter. Valley National Advisers Inc. raised its stake in shares of Portola Pharmaceuticals by 32.0% in the second quarter. Valley National Advisers Inc. now owns 4,046 shares of the biopharmaceutical company’s stock worth $110,000 after purchasing an additional 981 shares during the last quarter. Next Capital Management LLC purchased a new position in shares of Portola Pharmaceuticals in the second quarter worth $27,000. Finally, United Services Automobile Association raised its stake in shares of Portola Pharmaceuticals by 0.9% in the second quarter. United Services Automobile Association now owns 124,554 shares of the biopharmaceutical company’s stock worth $3,379,000 after purchasing an additional 1,065 shares during the last quarter.

Portola Pharmaceuticals Company Profile

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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Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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