Oppenheimer Holdings, Inc. reaffirmed their buy rating on shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) in a research note published on Wednesday morning. The brokerage currently has a $80.00 target price on the biopharmaceutical company’s stock.

Several other research firms have also recently weighed in on PTLA. BidaskClub upgraded Portola Pharmaceuticals from a hold rating to a buy rating in a report on Monday, July 24th. Zacks Investment Research upgraded Portola Pharmaceuticals from a hold rating to a buy rating and set a $70.00 price target on the stock in a report on Tuesday, July 18th. Credit Suisse Group set a $70.00 price target on Portola Pharmaceuticals and gave the stock a hold rating in a report on Thursday, August 10th. They noted that the move was a valuation call. Morgan Stanley boosted their price target on Portola Pharmaceuticals from $50.00 to $70.00 and gave the stock an overweight rating in a report on Monday, June 26th. Finally, Cowen and Company upped their target price on Portola Pharmaceuticals from $45.00 to $70.00 and gave the company an outperform rating in a report on Monday, June 26th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $63.77.

Shares of Portola Pharmaceuticals (PTLA) opened at 58.38 on Wednesday. Portola Pharmaceuticals has a one year low of $15.68 and a one year high of $67.10. The company’s market cap is $3.37 billion. The firm’s 50-day moving average is $60.13 and its 200-day moving average is $46.28.

Portola Pharmaceuticals (NASDAQ:PTLA) last released 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. The firm had revenue of $3.79 million for the quarter, compared to the consensus estimate of $4.28 million. Portola Pharmaceuticals had a negative return on equity of 145.12% and a negative net margin of 807.93%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter last year, the firm posted ($1.02) earnings per share. Analysts expect that Portola Pharmaceuticals will post ($4.83) EPS for the current fiscal year.

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In other news, CEO William Lis sold 269,299 shares of the company’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 transaction of $14,927,243.57. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles J. Homcy sold 120,803 shares of the company’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 value of $6,409,807.18. The disclosure for this sale can be found here. Insiders have sold 589,656 shares of company stock worth $32,818,131 over the last ninety days. 4.90% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Portola Pharmaceuticals by 4.4% during the first quarter. Vanguard Group Inc. now owns 4,614,814 shares of the biopharmaceutical company’s stock worth $180,855,000 after purchasing an additional 192,420 shares during the period. BlackRock Inc. raised its position in shares of Portola Pharmaceuticals by 0.9% during the second quarter. BlackRock Inc. now owns 4,071,966 shares of the biopharmaceutical company’s stock worth $228,721,000 after purchasing an additional 37,241 shares during the period. FMR LLC raised its position in shares of Portola Pharmaceuticals by 5.6% during the first quarter. FMR LLC now owns 3,902,000 shares of the biopharmaceutical company’s stock worth $152,919,000 after purchasing an additional 205,751 shares during the period. State Street Corp raised its position in shares of Portola Pharmaceuticals by 5.3% during the second quarter. State Street Corp now owns 2,085,838 shares of the biopharmaceutical company’s stock worth $117,164,000 after purchasing an additional 105,207 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Portola Pharmaceuticals by 17.2% during the second quarter. Goldman Sachs Group Inc. now owns 688,092 shares of the biopharmaceutical company’s stock worth $38,650,000 after purchasing an additional 101,046 shares during the period. 85.27% of the stock is currently owned by institutional investors.

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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