Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other brokerages also recently issued reports on PTLA. Credit Suisse Group set a $70.00 price objective on shares of Portola Pharmaceuticals and gave the company a “hold” rating in a research report on Thursday, August 10th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Oppenheimer Holdings, Inc. boosted their target price on shares of Portola Pharmaceuticals from $66.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, July 24th. Morgan Stanley boosted their target price on shares of Portola Pharmaceuticals from $50.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, June 26th. Finally, Cowen and Company boosted their target price on shares of Portola Pharmaceuticals from $45.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, June 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $63.77.

Shares of Portola Pharmaceuticals (NASDAQ:PTLA) opened at 53.99 on Friday. Portola Pharmaceuticals has a 52-week low of $15.68 and a 52-week high of $67.10. The firm’s market capitalization is $3.11 billion. The stock’s 50 day moving average is $60.53 and its 200 day moving average is $43.46.

Portola Pharmaceuticals (NASDAQ:PTLA) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.10) by $0.12. Portola Pharmaceuticals had a negative return on equity of 145.12% and a negative net margin of 807.93%. The firm had revenue of $3.79 million during the quarter, compared to analysts’ expectations of $4.28 million. During the same period in the previous year, the firm earned ($1.02) earnings per share. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts forecast that Portola Pharmaceuticals will post ($4.86) EPS for the current year.

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In related news, major shareholder (Mauritius) Pte Ltd Maxwell sold 1,700,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $34.40, for a total value of $58,480,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John T. Curnutte sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $65.00, for a total transaction of $650,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,289,656 shares of company stock worth $91,298,131. 4.90% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of PTLA. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Portola Pharmaceuticals by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 258 shares in the last quarter. Jacobi Capital Management LLC acquired a new stake in Portola Pharmaceuticals during the second quarter valued at approximately $125,000. IFP Advisors Inc raised its stake in Portola Pharmaceuticals by 7.7% in the second quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 170 shares during the last quarter. QS Investors LLC acquired a new stake in Portola Pharmaceuticals during the second quarter valued at approximately $147,000. Finally, First Mercantile Trust Co. acquired a new stake in Portola Pharmaceuticals during the first quarter valued at approximately $165,000. Institutional investors and hedge funds own 86.47% 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.

Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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