Portola Pharmaceuticals Inc (PTLA) Given Average Rating of “Buy” by Brokerages
Shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) have received an average recommendation of “Buy” from the nine analysts that are covering the firm. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $40.70.
Several equities research analysts have recently commented on PTLA shares. Vetr downgraded Portola Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $45.18 target price for the company. in a report on Monday, March 20th. Goldman Sachs Group Inc reaffirmed a “neutral” rating and set a $27.00 target price (up from $22.00) on shares of Portola Pharmaceuticals in a report on Wednesday, January 11th. Cowen and Company upped their target price on Portola Pharmaceuticals from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, March 20th. Morgan Stanley upped their target price on Portola Pharmaceuticals from $31.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, March 6th. Finally, Zacks Investment Research downgraded Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, January 18th.
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In other news, CEO William Lis sold 6,750 shares of the firm’s stock in a transaction dated Tuesday, April 11th. The stock was sold at an average price of $36.06, for a total transaction of $243,405.00. Following the completion of the sale, the chief executive officer now directly owns 4,730 shares of the company’s stock, valued at approximately $170,563.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles J. Homcy sold 50,000 shares of the stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $40.06, for a total value of $2,003,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 68,082 shares of company stock valued at $2,696,566 over the last ninety days. Company insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PTLA. BlackRock Fund Advisors raised its position in shares of Portola Pharmaceuticals by 5.6% in the third quarter. BlackRock Fund Advisors now owns 2,058,331 shares of the biopharmaceutical company’s stock worth $46,745,000 after buying an additional 109,789 shares in the last quarter. State Street Corp raised its position in shares of Portola Pharmaceuticals by 1.7% in the fourth quarter. State Street Corp now owns 2,016,452 shares of the biopharmaceutical company’s stock worth $45,242,000 after buying an additional 34,027 shares in the last quarter. Sectoral Asset Management Inc raised its position in shares of Portola Pharmaceuticals by 15.4% in the third quarter. Sectoral Asset Management Inc now owns 1,419,208 shares of the biopharmaceutical company’s stock worth $32,230,000 after buying an additional 189,826 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Portola Pharmaceuticals by 3.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,402,266 shares of the biopharmaceutical company’s stock worth $31,845,000 after buying an additional 50,984 shares in the last quarter. Finally, Emerald Advisers Inc. PA raised its position in shares of Portola Pharmaceuticals by 16.1% in the third quarter. Emerald Advisers Inc. PA now owns 743,559 shares of the biopharmaceutical company’s stock worth $16,886,000 after buying an additional 103,115 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.
Portola Pharmaceuticals (NASDAQ:PTLA) traded down 0.05% during mid-day trading on Friday, hitting $38.20. 375,676 shares of the stock traded hands. The stock’s market cap is $2.16 billion. Portola Pharmaceuticals has a 12-month low of $15.68 and a 12-month high of $41.27. The company has a 50 day moving average of $38.40 and a 200-day moving average of $26.77.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($0.95) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.12) by $0.17. Portola Pharmaceuticals had a negative return on equity of 82.19% and a negative net margin of 1,072.67%. The business earned $13.70 million during the quarter, compared to analysts’ expectations of $3.98 million. During the same quarter last year, the business posted ($1.23) earnings per share. The company’s quarterly revenue was up 211.4% on a year-over-year basis. Equities research analysts forecast that Portola Pharmaceuticals will post ($3.56) earnings per share for the current year.
Portola Pharmaceuticals Company Profile
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 having 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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