Portola Pharmaceuticals Inc. (PTLA) Upgraded by Zacks Investment Research to Buy
Portola Pharmaceuticals Inc. (NASDAQ:PTLA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $25.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research’s price target would suggest a potential upside of 17.26% from the stock’s current price.
According to Zacks, “Portola Pharmaceuticals, Inc. is a biopharmaceutical company .It focuses on the development and commercialization of therapeutics for thrombosis, other hematologic disorders and inflammation. Portola Pharmaceuticals, Inc. is headquartered in South San Francisco, California. “
Several other brokerages also recently issued reports on PTLA. Credit Suisse Group AG lowered their price objective on shares of Portola Pharmaceuticals from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 19th. Citigroup Inc. cut shares of Portola Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $40.00 to $24.00 in a report on Friday, August 19th. Cowen and Company restated a “buy” rating on shares of Portola Pharmaceuticals in a report on Thursday, August 18th. Finally, Morgan Stanley reduced their target price on shares of Portola Pharmaceuticals from $61.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, August 19th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $32.36.
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Shares of Portola Pharmaceuticals (NASDAQ:PTLA) traded down 1.66% on Wednesday, reaching $21.32. 748,299 shares of the company traded hands. Portola Pharmaceuticals has a 52-week low of $18.20 and a 52-week high of $52.89. The stock has a 50 day moving average of $21.90 and a 200 day moving average of $23.94. The stock’s market cap is $1.20 billion.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.20) by $0.18. Portola Pharmaceuticals had a negative net margin of 1,229.26% and a negative return on equity of 67.16%. The firm earned $4.23 million during the quarter, compared to the consensus estimate of $4.38 million. During the same quarter in the prior year, the firm earned ($1.12) earnings per share. The business’s quarterly revenue was up 75.0% on a year-over-year basis. On average, analysts expect that Portola Pharmaceuticals will post ($4.38) earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in PTLA. IFP Advisors Inc raised its position in Portola Pharmaceuticals by 2.0% in the second quarter. IFP Advisors Inc now owns 4,318 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 83 shares in the last quarter. BlackRock Inc. raised its position in Portola Pharmaceuticals by 59.5% in the second quarter. BlackRock Inc. now owns 5,257 shares of the biopharmaceutical company’s stock valued at $124,000 after buying an additional 1,962 shares in the last quarter. Teacher Retirement System of Texas raised its position in Portola Pharmaceuticals by 16.9% in the second quarter. Teacher Retirement System of Texas now owns 7,889 shares of the biopharmaceutical company’s stock valued at $186,000 after buying an additional 1,140 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Portola Pharmaceuticals during the second quarter valued at approximately $204,000. Finally, Affinity Investment Advisors LLC purchased a new position in Portola Pharmaceuticals during the second quarter valued at approximately $226,000. 92.04% of the stock is currently owned by institutional investors and hedge funds.
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 who have 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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