FY2016 EPS Estimates for Portola Pharmaceuticals Inc. (PTLA) Decreased by William Blair
Portola Pharmaceuticals Inc. (NASDAQ:PTLA) – Equities research analysts at William Blair cut their FY2016 earnings per share (EPS) estimates for Portola Pharmaceuticals in a research report issued to clients and investors on Tuesday. William Blair analyst J. Sonnier now forecasts that the firm will earn ($4.90) per share for the year, down from their prior estimate of ($4.42). William Blair also issued estimates for Portola Pharmaceuticals’ Q4 2016 earnings at ($1.09) EPS, Q1 2017 earnings at ($1.11) EPS, Q2 2017 earnings at ($1.12) EPS, Q3 2017 earnings at ($1.17) EPS, Q4 2017 earnings at ($1.13) EPS, FY2017 earnings at ($4.52) EPS and FY2018 earnings at ($2.34) EPS.
A number of other brokerages have also recently weighed in on PTLA. Credit Suisse Group AG reduced their target price on shares of Portola Pharmaceuticals from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 19th. Citigroup Inc. cut shares of Portola Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $40.00 to $24.00 in a report on Friday, August 19th. Cowen and Company restated a “buy” rating on shares of Portola Pharmaceuticals in a report on Thursday, August 18th. Zacks Investment Research cut shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. Finally, Morgan Stanley reduced their target price on shares of Portola Pharmaceuticals from $61.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, August 19th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Portola Pharmaceuticals has an average rating of “Buy” and a consensus target price of $32.36.
Shares of Portola Pharmaceuticals (NASDAQ:PTLA) opened at 18.25 on Thursday. The stock’s 50 day moving average price is $20.30 and its 200-day moving average price is $23.19. Portola Pharmaceuticals has a 12-month low of $15.68 and a 12-month high of $52.89. The firm’s market capitalization is $1.03 billion.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($1.64) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by $0.54. The firm had revenue of $9.30 million for the quarter, compared to analyst estimates of $4.10 million. Portola Pharmaceuticals had a negative return on equity of 82.19% and a negative net margin of 1,072.67%. The company’s quarterly revenue was up 220.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.05) earnings per share.
A number of institutional investors have recently bought and sold shares of the company. IFP Advisors Inc raised its position in Portola Pharmaceuticals by 2.0% in the second quarter. IFP Advisors Inc now owns 4,318 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 83 shares in 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 worth $124,000 after buying an additional 1,962 shares during the period. 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 worth $186,000 after buying an additional 1,140 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Portola Pharmaceuticals during the second quarter worth about $204,000. Finally, Advisor Group Inc. raised its stake in shares of Portola Pharmaceuticals by 225.7% in the third quarter. Advisor Group Inc. now owns 8,950 shares of the biopharmaceutical company’s stock worth $204,000 after buying an additional 6,202 shares during the period. 91.42% 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.
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