Zacks: Brokerages Expect Portola Pharmaceuticals, Inc. (PTLA) Will Post Quarterly Sales of $2.42 Million
Equities research analysts expect Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) to report sales of $2.42 million for the current quarter, Zacks reports. Two analysts have made estimates for Portola Pharmaceuticals’ earnings. The lowest sales estimate is $2.40 million and the highest is $2.44 million. Portola Pharmaceuticals reported sales of $9.32 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 74%. The business is expected to issue its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that Portola Pharmaceuticals will report full-year sales of $2.42 million for the current year, with estimates ranging from $12.33 million to $21.12 million. For the next fiscal year, analysts forecast that the company will report sales of $233.13 million per share, with estimates ranging from $158.00 million to $284.75 million. Zacks’ sales averages are an average based on a survey of analysts that follow Portola Pharmaceuticals.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by $0.12. Portola Pharmaceuticals had a negative net margin of 807.93% and a negative return on equity of 145.12%. The firm had revenue of $3.79 million for the quarter, compared to the consensus estimate of $4.28 million. During the same period in the prior year, the business earned ($1.02) earnings per share. The company’s revenue for the quarter was down 10.4% on a year-over-year basis.
PTLA has been the topic of a number of analyst reports. ValuEngine upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Credit Suisse Group reiterated a “neutral” rating and set a $58.00 price objective (up from $39.00) on shares of Portola Pharmaceuticals in a research note on Monday, June 26th. Finally, Cowen and Company increased their price objective on shares of Portola Pharmaceuticals from $45.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, June 26th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Portola Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $63.77.
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Shares of Portola Pharmaceuticals (PTLA) traded down 0.66% during trading on Wednesday, reaching $55.68. 1,448,262 shares of the company traded hands. Portola Pharmaceuticals has a 12 month low of $15.68 and a 12 month high of $67.10. The company has a 50-day moving average of $60.73 and a 200-day moving average of $42.42. The stock’s market capitalization is $3.21 billion.
In other news, CEO William Lis sold 269,299 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $55.43, for a total value of $14,927,243.57. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder (Mauritius) Pte Ltd Maxwell sold 1,700,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $34.40, for a total transaction of $58,480,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,289,656 shares of company stock worth $91,298,131. 4.90% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Portola Pharmaceuticals by 68,964.1% in the first quarter. BlackRock Inc. now owns 4,034,725 shares of the biopharmaceutical company’s stock worth $158,121,000 after buying an additional 4,028,883 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of Portola Pharmaceuticals during the second quarter worth about $29,483,000. Norges Bank acquired a new position in shares of Portola Pharmaceuticals during the fourth quarter worth about $10,046,000. Renaissance Technologies LLC acquired a new position in shares of Portola Pharmaceuticals during the second quarter worth about $21,187,000. Finally, Bogle Investment Management L P DE acquired a new position in shares of Portola Pharmaceuticals during the first quarter worth about $12,945,000. Institutional investors own 86.26% of the company’s stock.
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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