Advisor Group Inc. reduced its position in shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) by 19.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,500 shares of the biopharmaceutical company’s stock after selling 1,600 shares during the period. Advisor Group Inc.’s holdings in Portola Pharmaceuticals were worth $300,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PTLA. First Trust Advisors LP acquired a new position in Portola Pharmaceuticals during the first quarter worth about $651,000. Bank of New York Mellon Corp boosted its position in shares of Portola Pharmaceuticals by 7.8% in the 1st quarter. Bank of New York Mellon Corp now owns 250,723 shares of the biopharmaceutical company’s stock valued at $9,825,000 after purchasing an additional 18,211 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Portola Pharmaceuticals by 32.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 399,684 shares of the biopharmaceutical company’s stock valued at $15,664,000 after purchasing an additional 96,962 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Portola Pharmaceuticals by 50.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 32,145 shares of the biopharmaceutical company’s stock valued at $1,260,000 after purchasing an additional 10,776 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Portola Pharmaceuticals in the 1st quarter valued at $167,000. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

PTLA has been the subject of a number of recent analyst reports. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $80.00 price target on shares of Portola Pharmaceuticals in a research report on Wednesday, September 6th. BidaskClub upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report 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 report 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 report on Saturday, June 17th. Finally, Credit Suisse Group set a $70.00 price target on Portola Pharmaceuticals and gave the company a “hold” rating in a research report 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. Portola Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $65.15.

Shares of Portola Pharmaceuticals, Inc. (PTLA) opened at 51.42 on Friday. The firm’s market capitalization is $2.96 billion. The firm’s 50-day moving average price is $55.72 and its 200-day moving average price is $49.42. Portola Pharmaceuticals, Inc. has a 12 month low of $15.68 and a 12 month high of $67.10.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.12). Portola Pharmaceuticals had a negative return on equity of 145.12% and a negative net margin of 807.93%. The business had revenue of $3.79 million during the quarter, compared to the consensus estimate of $4.28 million. During the same quarter last year, the company earned ($1.02) earnings per share. The firm’s revenue was down 10.4% compared to the same quarter last year. On average, equities analysts anticipate that Portola Pharmaceuticals, Inc. will post ($4.82) earnings per share for the current year.

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In other Portola Pharmaceuticals news, insider John T. Curnutte sold 10,000 shares of the stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $65.00, for a total value of $650,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tao Fu sold 5,812 shares of the stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $65.00, for a total value of $377,780.00. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.

Portola Pharmaceuticals 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.

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

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