Portola Pharmaceuticals Inc. (PTLA) Given Consensus Rating of “Buy” by Analysts
Portola Pharmaceuticals Inc. (NASDAQ:PTLA) has received a consensus recommendation of “Buy” from the eight ratings firms that are covering the firm. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $31.08.
Several analysts have weighed in on PTLA shares. Citigroup Inc. lifted their price objective on Portola Pharmaceuticals from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Zacks Investment Research raised Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Wednesday, October 5th. Morgan Stanley dropped their price target on Portola Pharmaceuticals from $61.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, August 19th. Cowen and Company reissued a “buy” rating on shares of Portola Pharmaceuticals in a research report on Thursday, August 18th. Finally, Credit Suisse Group AG dropped their price target on Portola Pharmaceuticals from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 19th.
A number of institutional investors have recently made changes to their positions in PTLA. Wellington Management Group LLP raised its position in shares of Portola Pharmaceuticals by 25.9% in the first quarter. Wellington Management Group LLP now owns 6,615,240 shares of the biopharmaceutical company’s stock worth $134,951,000 after buying an additional 1,359,683 shares during the last quarter. Deerfield Management Co. raised its position in shares of Portola Pharmaceuticals by 18.9% in the second quarter. Deerfield Management Co. now owns 3,673,727 shares of the biopharmaceutical company’s stock worth $86,700,000 after buying an additional 583,942 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Portola Pharmaceuticals by 4.1% in the second quarter. Vanguard Group Inc. now owns 3,633,739 shares of the biopharmaceutical company’s stock worth $85,756,000 after buying an additional 142,286 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Portola Pharmaceuticals by 4.3% in the first quarter. BlackRock Fund Advisors now owns 1,985,120 shares of the biopharmaceutical company’s stock worth $40,496,000 after buying an additional 82,609 shares during the last quarter. Finally, State Street Corp raised its position in shares of Portola Pharmaceuticals by 27.3% in the first quarter. State Street Corp now owns 1,720,000 shares of the biopharmaceutical company’s stock worth $35,085,000 after buying an additional 368,946 shares during the last quarter. Institutional investors own 92.28% of the company’s stock.
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Shares of Portola Pharmaceuticals (NASDAQ:PTLA) traded down 5.06% during trading on Wednesday, reaching $19.31. The company’s stock had a trading volume of 562,188 shares. Portola Pharmaceuticals has a one year low of $18.20 and a one year high of $52.89. The firm’s 50-day moving average price is $22.08 and its 200-day moving average price is $23.87. The company’s market capitalization is $1.09 billion.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($1.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.20) by $0.18. The business had revenue of $4.23 million for the quarter, compared to analysts’ expectations of $4.38 million. Portola Pharmaceuticals had a negative return on equity of 67.16% and a negative net margin of 1,229.26%. The business’s revenue was up 75.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.12) EPS. On average, equities analysts anticipate that Portola Pharmaceuticals will post ($4.38) earnings per share for the current year.
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 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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