Principal Financial Group Inc. increased its holdings in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,693 shares of the biopharmaceutical company’s stock after purchasing an additional 371 shares during the quarter. Principal Financial Group Inc. owned approximately 0.11% of Portola Pharmaceuticals worth $3,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. IFP Advisors Inc grew its stake in shares of Portola Pharmaceuticals by 7.7% in the second quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 170 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Portola Pharmaceuticals by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock worth $117,000 after purchasing an additional 258 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Portola Pharmaceuticals by 1.6% in the first quarter. Legal & General Group Plc now owns 18,364 shares of the biopharmaceutical company’s stock worth $719,000 after purchasing an additional 290 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Portola Pharmaceuticals by 2.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 24,716 shares of the biopharmaceutical company’s stock worth $1,388,000 after purchasing an additional 621 shares during the last quarter. Finally, Rothschild Investment Corp IL grew its stake in shares of Portola Pharmaceuticals by 7.0% in the second quarter. Rothschild Investment Corp IL now owns 20,880 shares of the biopharmaceutical company’s stock worth $1,173,000 after purchasing an additional 1,370 shares during the last quarter. 85.02% of the stock is currently owned by institutional investors.

In other Portola Pharmaceuticals news, VP Mardi Dier sold 23,350 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $60.00, for a total value of $1,401,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Tao Fu sold 5,812 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 $377,780.00. The disclosure for this sale can be found here. Insiders sold a total of 39,162 shares of company stock worth $2,428,780 over the last 90 days. Insiders own 4.90% of the company’s stock.

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Shares of Portola Pharmaceuticals, Inc. (NASDAQ PTLA) opened at 53.82 on Friday. The stock’s market capitalization is $3.10 billion. Portola Pharmaceuticals, Inc. has a one year low of $15.68 and a one year high of $67.10. The firm has a 50-day moving average of $56.00 and a 200 day moving average of $48.77.

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 Zacks’ consensus estimate of ($1.10) by ($0.12). The company had revenue of $3.79 million during 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%. Portola Pharmaceuticals’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.02) earnings per share. On average, equities research analysts predict that Portola Pharmaceuticals, Inc. will post ($4.83) EPS for the current year.

Several analysts recently issued reports on PTLA shares. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $80.00 target price on shares of Portola Pharmaceuticals in a research note on Wednesday, September 6th. BidaskClub raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Zacks Investment Research raised Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Tuesday, July 18th. Citigroup Inc. set a $51.00 target price on Portola Pharmaceuticals and gave the stock a “buy” rating in a research note on Saturday, June 17th. Finally, Credit Suisse Group AG set a $70.00 target price on Portola Pharmaceuticals and gave the stock a “hold” rating in a research note on Thursday, August 10th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $63.77.

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.

Institutional Ownership by Quarter for Portola Pharmaceuticals (NASDAQ:PTLA)

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