FY2021 Earnings Forecast for Portola Pharmaceuticals Inc Issued By Oppenheimer (PTLA)
Portola Pharmaceuticals Inc (NASDAQ:PTLA) – Investment analysts at Oppenheimer dropped their FY2021 earnings per share (EPS) estimates for shares of Portola Pharmaceuticals in a research note issued to investors on Wednesday. Oppenheimer analyst J. Olson now expects that the biopharmaceutical company will post earnings per share of $5.72 for the year, down from their prior estimate of $5.81. Oppenheimer currently has a “Buy” rating and a $80.00 price target on the stock. Oppenheimer also issued estimates for Portola Pharmaceuticals’ FY2022 earnings at $8.04 EPS.
Several other equities analysts also recently weighed in on the company. Goldman Sachs Group initiated coverage on Portola Pharmaceuticals in a research report on Friday, December 1st. They set a “buy” rating and a $75.00 target price on the stock. BidaskClub downgraded Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. Citigroup reiterated a “buy” rating and set a $74.00 target price on shares of Portola Pharmaceuticals in a research report on Thursday, December 28th. Zacks Investment Research upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, William Blair restated a “buy” rating on shares of Portola Pharmaceuticals in a research note on Monday, January 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. Portola Pharmaceuticals presently has an average rating of “Buy” and an average price target of $70.65.
In other Portola Pharmaceuticals news, Director Henry Ward Wolff sold 12,000 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $47.00, for a total transaction of $564,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.50% of the company’s stock.
A number of large investors have recently made changes to their positions in PTLA. Wells Fargo & Company MN increased its stake in Portola Pharmaceuticals by 1,367.8% during the fourth quarter. Wells Fargo & Company MN now owns 686,816 shares of the biopharmaceutical company’s stock worth $33,434,000 after acquiring an additional 640,023 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Portola Pharmaceuticals in the second quarter valued at about $21,187,000. BlackRock Inc. grew its stake in shares of Portola Pharmaceuticals by 6.7% in the fourth quarter. BlackRock Inc. now owns 4,696,591 shares of the biopharmaceutical company’s stock valued at $228,629,000 after buying an additional 293,802 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its stake in shares of Portola Pharmaceuticals by 38.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 727,812 shares of the biopharmaceutical company’s stock valued at $39,324,000 after buying an additional 202,925 shares in the last quarter. Finally, Artal Group S.A. acquired a new stake in shares of Portola Pharmaceuticals in the fourth quarter valued at about $7,302,000. Institutional investors own 87.29% of the company’s stock.
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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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