Portola Pharmaceuticals Inc. (NASDAQ:PTLA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $25.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research’s price target would suggest a potential upside of 10.91% from the company’s previous close.

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. “

Several other analysts have also recently commented on PTLA. Citigroup Inc. lifted their price objective on shares of Portola Pharmaceuticals from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Credit Suisse Group AG restated a “hold” rating and set a $30.00 price objective on shares of Portola Pharmaceuticals in a research note on Thursday, August 18th. Cowen and Company restated a “buy” rating on shares of Portola Pharmaceuticals in a research note on Thursday, August 18th. Finally, Morgan Stanley decreased their price objective on shares of Portola Pharmaceuticals from $61.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, August 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Portola Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $32.36.

Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

Shares of Portola Pharmaceuticals (NASDAQ:PTLA) traded up 1.46% during trading on Wednesday, hitting $22.87. 190,403 shares of the company were exchanged. The firm’s market capitalization is $1.29 billion. The firm’s 50-day moving average price is $22.03 and its 200 day moving average price is $24.01. Portola Pharmaceuticals has a 12 month low of $18.20 and a 12 month high of $52.89.

Portola Pharmaceuticals (NASDAQ:PTLA) last released its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.02) EPS for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.18. The company earned $4.23 million during the quarter, compared to analysts’ expectations of $4.38 million. Portola Pharmaceuticals had a negative net margin of 1,229.26% and a negative return on equity of 67.16%. Portola Pharmaceuticals’s revenue for the quarter was up 75.0% on a year-over-year basis. During the same period last year, the business earned ($1.12) EPS. On average, equities research analysts expect that Portola Pharmaceuticals will post ($4.38) earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of PTLA. IFP Advisors Inc raised its stake in shares of Portola Pharmaceuticals by 2.0% in the second quarter. IFP Advisors Inc now owns 4,318 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 83 shares during the last quarter. BlackRock Inc. raised its stake in shares of Portola Pharmaceuticals by 59.5% in the second quarter. BlackRock Inc. now owns 5,257 shares of the biopharmaceutical company’s stock valued at $124,000 after buying an additional 1,962 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Portola Pharmaceuticals by 16.9% in the second quarter. Teacher Retirement System of Texas now owns 7,889 shares of the biopharmaceutical company’s stock valued at $186,000 after buying an additional 1,140 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Portola Pharmaceuticals during the second quarter valued at approximately $204,000. Finally, Affinity Investment Advisors LLC bought a new stake in shares of Portola Pharmaceuticals during the second quarter valued at approximately $226,000. 92.04% of the stock is owned by hedge funds and other institutional investors.

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 who have 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.

5 Day Chart for NASDAQ:PTLA

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