Shares of Portola Pharmaceuticals Inc. (NASDAQ:PTLA) have been assigned a consensus rating of “Buy” from the eight brokerages that are currently covering the firm. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $32.30.

Several analysts have recently weighed in on PTLA shares. Citigroup Inc. cut shares of Portola Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price target for the company from $40.00 to $24.00 in a research note on Friday, August 19th. Zacks Investment Research raised shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Wednesday, October 5th. Morgan Stanley dropped their price target 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. Credit Suisse Group AG dropped their price target on shares of Portola Pharmaceuticals from $30.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 19th. Finally, Cowen and Company reissued a “buy” rating on shares of Portola Pharmaceuticals in a research note on Thursday, August 18th.

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Portola Pharmaceuticals (NASDAQ:PTLA) opened at 18.77 on Friday. The company has a 50-day moving average of $19.13 and a 200-day moving average of $22.85. Portola Pharmaceuticals has a 52 week low of $15.68 and a 52 week high of $52.89. The company’s market cap is $1.06 billion.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($1.64) earnings per share for the quarter, missing the consensus estimate of ($1.10) by $0.54. Portola Pharmaceuticals had a negative net margin of 1,072.67% and a negative return on equity of 82.19%. The firm earned $9.30 million during the quarter, compared to analysts’ expectations of $4.10 million. During the same period last year, the company earned ($1.05) EPS. The business’s quarterly revenue was up 220.7% on a year-over-year basis. On average, equities research analysts predict that Portola Pharmaceuticals will post ($4.77) EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Pictet Asset Management Ltd. raised its stake in Portola Pharmaceuticals by 793.6% in the second quarter. Pictet Asset Management Ltd. now owns 683,641 shares of the biopharmaceutical company’s stock worth $18,787,000 after buying an additional 607,141 shares during the period. Deerfield Management Co. raised its stake in Portola Pharmaceuticals by 18.9% in the second quarter. Deerfield Management Co. now owns 3,673,727 shares of the biopharmaceutical company’s stock worth $86,700,000 after buying an additional 583,942 shares during the period. Redmile Group LLC raised its stake in Portola Pharmaceuticals by 64.9% in the second quarter. Redmile Group LLC now owns 1,466,537 shares of the biopharmaceutical company’s stock worth $34,610,000 after buying an additional 576,930 shares during the period. Peregrine Capital Management LLC acquired a new stake in Portola Pharmaceuticals during the third quarter worth about $10,255,000. Finally, State Street Corp raised its stake in Portola Pharmaceuticals by 27.3% in the first quarter. State Street Corp now owns 1,720,000 shares of the biopharmaceutical company’s stock worth $35,085,000 after buying an additional 368,946 shares during the period. Institutional investors own 87.96% of the company’s stock.

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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