Oppenheimer Comments on Portola Pharmaceuticals Inc’s FY2018 Earnings (PTLA)
Portola Pharmaceuticals Inc (NASDAQ:PTLA) – Stock analysts at Oppenheimer boosted their FY2018 earnings per share (EPS) estimates for Portola Pharmaceuticals in a research note issued to investors on Thursday, November 8th. Oppenheimer analyst J. Olson now anticipates that the biopharmaceutical company will post earnings per share of ($5.06) for the year, up from their prior estimate of ($5.82). Oppenheimer has a “Buy” rating and a $30.00 price target on the stock. Oppenheimer also issued estimates for Portola Pharmaceuticals’ Q4 2018 earnings at ($1.16) EPS, Q1 2019 earnings at ($1.05) EPS, Q2 2019 earnings at ($1.13) EPS, Q3 2019 earnings at ($0.91) EPS, Q4 2019 earnings at ($0.93) EPS, FY2019 earnings at ($4.05) EPS, FY2020 earnings at ($2.97) EPS, FY2021 earnings at ($1.78) EPS and FY2022 earnings at ($0.07) EPS.
Several other brokerages have also issued reports on PTLA. Morgan Stanley decreased their price objective on Portola Pharmaceuticals from $34.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, October 11th. Credit Suisse Group upgraded Portola Pharmaceuticals from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $28.00 to $34.00 in a research report on Monday, August 27th. BidaskClub lowered Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 26th. ValuEngine lowered Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, October 6th. Finally, Zacks Investment Research upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, August 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $43.43.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($1.08) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.54) by $0.46. Portola Pharmaceuticals had a negative return on equity of 135.08% and a negative net margin of 1,020.52%. The business had revenue of $14.20 million during the quarter, compared to analyst estimates of $7.10 million. During the same period in the previous year, the firm earned ($1.41) EPS. Portola Pharmaceuticals’s quarterly revenue was up 270.8% compared to the same quarter last year.
In other news, Director Jeffrey W. Bird purchased 390,000 shares of Portola Pharmaceuticals stock in a transaction on Thursday, August 23rd. The stock was purchased at an average price of $25.84 per share, with a total value of $10,077,600.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey W. Bird purchased 137,563 shares of Portola Pharmaceuticals stock in a transaction on Tuesday, August 21st. The shares were purchased at an average cost of $25.17 per share, with a total value of $3,462,460.71. The disclosure for this purchase can be found here. 4.60% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC acquired a new position in Portola Pharmaceuticals during the 2nd quarter worth approximately $191,000. BB&T Securities LLC bought a new stake in shares of Portola Pharmaceuticals during the 2nd quarter worth approximately $201,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Portola Pharmaceuticals during the 2nd quarter worth approximately $230,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Portola Pharmaceuticals during the 2nd quarter worth approximately $234,000. Finally, Smith Asset Management Group LP raised its stake in shares of Portola Pharmaceuticals by 51.1% during the 3rd quarter. Smith Asset Management Group LP now owns 8,100 shares of the biopharmaceutical company’s stock worth $216,000 after purchasing an additional 2,740 shares in the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.
About Portola Pharmaceuticals
Portola Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics that could advance the fields of thrombosis and other hematologic diseases. The company's two FDA-approved medicines are Andexxa (coagulation factor Xa (recombinant), inactivated-zhzo), an antidote for patients treated with rivaroxaban and apixaban when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding; and Bevyxxa (betrixaban), an oral, once-daily Factor Xa inhibitor for the prevention of VTE in adult patients hospitalized for an acute medical illness.
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