Portola Pharmaceuticals’ (PTLA) “Overweight” Rating Reiterated at Morgan Stanley
Morgan Stanley reaffirmed their overweight rating on shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) in a research report report published on Friday. They currently have a $81.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $75.00.
Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of 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. BidaskClub upgraded shares of Portola Pharmaceuticals from a hold rating to a buy rating in a research note on Monday, July 24th. Citigroup Inc. increased their price target on shares of Portola Pharmaceuticals from $51.00 to $78.00 and gave the stock a buy rating in a research note on Monday, June 26th. Oppenheimer Holdings, Inc. reiterated a buy rating and issued a $80.00 price target on shares of Portola Pharmaceuticals in a research note on Wednesday, September 6th. Finally, Credit Suisse Group set a $70.00 price target on shares of 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 investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $65.15.
Shares of Portola Pharmaceuticals (PTLA) opened at 55.54 on Friday. Portola Pharmaceuticals has a 52-week low of $15.68 and a 52-week high of $67.10. The stock’s 50 day moving average is $56.06 and its 200 day moving average is $48.88. The company’s market capitalization is $3.20 billion.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.10) by ($0.12). The business 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%. The firm’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.02) earnings per share. Equities analysts expect that Portola Pharmaceuticals will post ($4.83) EPS for the current year.
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In other Portola Pharmaceuticals news, insider John T. Curnutte sold 10,000 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 transaction of $650,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mardi Dier sold 23,350 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $60.00, for a total transaction of $1,401,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,162 shares of company stock valued at $2,428,780. 4.90% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Portola Pharmaceuticals by 14.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock valued at $117,000 after purchasing an additional 258 shares in the last quarter. Jacobi Capital Management LLC bought a new stake in Portola Pharmaceuticals during the 2nd quarter valued at about $125,000. IFP Advisors Inc increased its stake in Portola Pharmaceuticals by 7.7% during the 2nd quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 170 shares in the last quarter. QS Investors LLC bought a new stake in Portola Pharmaceuticals during the 2nd quarter valued at about $147,000. Finally, SVA Plumb Wealth Management LLC bought a new stake in Portola Pharmaceuticals during the 2nd quarter valued at about $205,000. Institutional investors and hedge funds own 85.02% 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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