Oppenheimer set a $42.00 target price on Portola Pharmaceuticals (NASDAQ:PTLA) in a report issued on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently issued reports on the stock. BNP Paribas lifted their price objective on shares of Portola Pharmaceuticals from $30.00 to $42.00 and gave the company a positive rating in a research report on Monday, March 4th. BidaskClub upgraded shares of Portola Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, February 20th. Zacks Investment Research upgraded shares of Portola Pharmaceuticals from a hold rating to a buy rating and set a $37.00 target price for the company in a research report on Thursday, March 21st. Finally, ValuEngine cut shares of Portola Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, March 7th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Portola Pharmaceuticals presently has an average rating of Buy and a consensus price target of $42.43.

PTLA opened at $34.60 on Friday. The company has a current ratio of 5.12, a quick ratio of 5.01 and a debt-to-equity ratio of 2.25. The company has a market capitalization of $2.34 billion, a P/E ratio of -6.91 and a beta of 2.39. Portola Pharmaceuticals has a 12-month low of $14.81 and a 12-month high of $45.60.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings data on Friday, March 1st. The biopharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.07. The company had revenue of $15.30 million for the quarter, compared to the consensus estimate of $10.53 million. Portola Pharmaceuticals had a negative net margin of 872.72% and a negative return on equity of 167.94%. The firm’s revenue was up 56.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.41) earnings per share. On average, equities research analysts predict that Portola Pharmaceuticals will post -3.87 earnings per share for the current year.

In other Portola Pharmaceuticals news, CFO Mardi Dier sold 40,486 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $37.39, for a total transaction of $1,513,771.54. Following the completion of the sale, the chief financial officer now owns 66,733 shares in the company, valued at approximately $2,495,146.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Portola Pharmaceuticals by 1.1% during the third quarter. BlackRock Inc. now owns 5,307,407 shares of the biopharmaceutical company’s stock valued at $141,335,000 after buying an additional 55,895 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Portola Pharmaceuticals by 119.9% during the third quarter. Macquarie Group Ltd. now owns 380,358 shares of the biopharmaceutical company’s stock worth $10,129,000 after purchasing an additional 207,358 shares during the last quarter. Virtus ETF Advisers LLC boosted its holdings in Portola Pharmaceuticals by 72.9% during the fourth quarter. Virtus ETF Advisers LLC now owns 32,607 shares of the biopharmaceutical company’s stock worth $636,000 after purchasing an additional 13,746 shares during the last quarter. Foresite Capital Management IV LLC purchased a new position in Portola Pharmaceuticals during the fourth quarter worth about $4,880,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Portola Pharmaceuticals by 2.2% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 33,127 shares of the biopharmaceutical company’s stock worth $647,000 after purchasing an additional 719 shares during the last quarter.

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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Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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