$2.42 Million in Sales Expected for Portola Pharmaceuticals, Inc. (PTLA) This Quarter
Equities research analysts expect Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) to post sales of $2.42 million for the current quarter, Zacks reports. Two analysts have made estimates for Portola Pharmaceuticals’ earnings, with the highest sales estimate coming in at $2.44 million and the lowest estimate coming in at $2.40 million. Portola Pharmaceuticals posted sales of $9.32 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 74%. The firm is scheduled to announce its next quarterly earnings report on Monday, November 6th.
On average, analysts expect that Portola Pharmaceuticals will report full-year sales of $2.42 million for the current year, with estimates ranging from $13.72 million to $24.44 million. For the next financial year, analysts expect that the company will post sales of $261.26 million per share, with estimates ranging from $158.00 million to $369.15 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Portola Pharmaceuticals.
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 Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $4.28 million. During the same period in the previous year, the company posted ($1.02) EPS. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis.
A number of equities analysts have issued reports on the company. BidaskClub upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday. Credit Suisse Group upgraded Portola Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $70.00 price objective for the company in a report on Wednesday, August 23rd. Zacks Investment Research downgraded Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Oppenheimer Holdings, Inc. raised their price target on Portola Pharmaceuticals from $66.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, July 24th. Finally, Morgan Stanley raised their price target on Portola Pharmaceuticals from $50.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, June 26th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $63.77.
In related news, EVP Tao Fu sold 5,812 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $65.00, for a total transaction of $377,780.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder (Mauritius) Pte Ltd Maxwell sold 1,700,000 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $34.40, for a total value of $58,480,000.00. The disclosure for this sale can be found here. Insiders have sold 2,289,656 shares of company stock valued at $91,298,131 over the last 90 days. Corporate insiders own 4.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in PTLA. Fortaleza Asset Management Inc. acquired a new stake in Portola Pharmaceuticals during the first quarter valued at approximately $193,000. Hanseatic Management Services Inc. acquired a new stake in Portola Pharmaceuticals during the first quarter valued at approximately $891,000. UBS Asset Management Americas Inc. boosted its stake in Portola Pharmaceuticals by 32.0% in the first quarter. UBS Asset Management Americas Inc. now owns 399,684 shares of the biopharmaceutical company’s stock valued at $15,664,000 after buying an additional 96,962 shares during the period. Swiss National Bank boosted its stake in Portola Pharmaceuticals by 3.4% in the first quarter. Swiss National Bank now owns 93,057 shares of the biopharmaceutical company’s stock valued at $3,647,000 after buying an additional 3,100 shares during the period. Finally, Smith Asset Management Group LP acquired a new stake in Portola Pharmaceuticals during the first quarter valued at approximately $371,000. 85.27% of the stock is currently owned by institutional investors.
Shares of Portola Pharmaceuticals (NASDAQ PTLA) opened at 56.84 on Monday. The firm has a 50-day moving average of $60.42 and a 200 day moving average of $44.48. The company’s market cap is $3.28 billion. Portola Pharmaceuticals has a 52 week low of $15.68 and a 52 week high of $67.10.
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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