Portola Pharmaceuticals, Inc. (PTLA) Given Average Rating of “Buy” by Brokerages
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) has been assigned a consensus rating of “Buy” from the twelve research firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $62.88.
Several equities analysts recently weighed in on PTLA shares. BidaskClub upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Zacks Investment Research upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Tuesday, July 18th. Citigroup Inc set a $51.00 price target on Portola Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, June 17th. Credit Suisse Group set a $70.00 price target on Portola Pharmaceuticals and gave the company a “hold” rating in a research note on Thursday, August 10th. They noted that the move was a valuation call. Finally, Oppenheimer Holdings, Inc. lifted their price target on Portola Pharmaceuticals from $66.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, July 24th.
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Portola Pharmaceuticals (NASDAQ PTLA) traded down 0.82% during trading on Wednesday, hitting $62.93. The stock had a trading volume of 599,305 shares. The firm’s 50-day moving average price is $60.48 and its 200-day moving average price is $45.66. Portola Pharmaceuticals has a 52-week low of $15.68 and a 52-week high of $67.10. The company’s market cap is $3.63 billion.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share 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 business had revenue of $3.79 million during the quarter, compared to analysts’ expectations of $4.28 million. During the same quarter in the prior year, the firm earned ($1.02) EPS. Portola Pharmaceuticals’s revenue for the quarter was down 10.4% on a year-over-year basis. Analysts predict that Portola Pharmaceuticals will post ($4.83) EPS for the current fiscal year.
In other news, Director Charles J. Homcy sold 120,803 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $53.06, for a total transaction of $6,409,807.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William Lis sold 269,299 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $55.43, for a total value of $14,927,243.57. The disclosure for this sale can be found here. Over the last quarter, insiders sold 589,656 shares of company stock worth $32,818,131. 4.90% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of PTLA. First Mercantile Trust Co. acquired a new position in shares of Portola Pharmaceuticals during the 1st quarter worth approximately $165,000. First Trust Advisors LP acquired a new position in shares of Portola Pharmaceuticals during the 1st quarter worth approximately $651,000. American Century Companies Inc. boosted its holdings in shares of Portola Pharmaceuticals by 60.1% during the 1st quarter. American Century Companies Inc. now owns 51,833 shares of the biopharmaceutical company’s stock worth $2,031,000 after purchasing an additional 19,460 shares during the last quarter. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Portola Pharmaceuticals during the 1st quarter worth approximately $1,403,000. Finally, Princeton Alpha Management LP acquired a new position in shares of Portola Pharmaceuticals during the 1st quarter worth approximately $360,000. Institutional investors and hedge funds own 85.27% 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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