JPMorgan Chase & Co. Cuts Holdings in Portola Pharmaceuticals, Inc. (PTLA)
JPMorgan Chase & Co. lowered its holdings in shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) by 32.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 718,158 shares of the biopharmaceutical company’s stock after selling 346,034 shares during the period. JPMorgan Chase & Co. owned about 1.26% of Portola Pharmaceuticals worth $40,340,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Portola Pharmaceuticals by 14.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock worth $117,000 after acquiring an additional 258 shares during the last quarter. IFP Advisors Inc raised its position in Portola Pharmaceuticals by 7.7% during the second quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 170 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in Portola Pharmaceuticals during the first quarter worth about $167,000. Credit Agricole S A acquired a new position in Portola Pharmaceuticals during the first quarter worth about $196,000. Finally, Amalgamated Bank acquired a new position in Portola Pharmaceuticals during the first quarter worth about $237,000. Institutional investors own 85.27% of the company’s stock.
PTLA has been the subject of a number of research reports. ValuEngine upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $80.00 target price on shares of Portola Pharmaceuticals in a research report on Wednesday, September 6th. Zacks Investment Research cut shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, Credit Suisse Group restated a “neutral” rating and set a $58.00 target price (up previously from $39.00) on shares of Portola Pharmaceuticals in a research report on Monday, June 26th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $63.77.
Portola Pharmaceuticals, Inc. (NASDAQ PTLA) opened at 54.95 on Friday. Portola Pharmaceuticals, Inc. has a 52-week low of $15.68 and a 52-week high of $67.10. The firm’s market cap is $3.17 billion. The stock has a 50 day moving average of $58.25 and a 200-day moving average of $47.24.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $4.28 million. During the same quarter last year, the business posted ($1.02) EPS. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, analysts expect that Portola Pharmaceuticals, Inc. will post ($4.83) EPS for the current year.
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In other Portola Pharmaceuticals news, EVP Tao Fu sold 5,812 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total value of $377,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mardi Dier sold 93,392 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $55.46, for a total transaction of $5,179,520.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 589,656 shares of company stock valued at $32,818,131. Insiders own 4.90% of the company’s stock.
About Portola Pharmaceuticals
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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