Vetr Inc. Downgrades Portola Pharmaceuticals Inc (PTLA) to Buy
Portola Pharmaceuticals Inc (NASDAQ:PTLA) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Monday. They presently have a $45.18 price objective on the biopharmaceutical company’s stock. Vetr‘s price objective would indicate a potential upside of 11.78% from the stock’s previous close.
PTLA has been the subject of a number of other reports. Credit Suisse Group AG upped their target price on Portola Pharmaceuticals from $20.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, December 27th. Oppenheimer Holdings Inc. set a $28.00 target price on Portola Pharmaceuticals and gave the company a “hold” rating in a research note on Wednesday, February 8th. Citigroup Inc set a $39.00 target price on Portola Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, February 17th. CIBC upgraded Portola Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Friday, February 24th. Finally, Cowen and Company upped their target price on Portola Pharmaceuticals from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $37.65.
Shares of Portola Pharmaceuticals (NASDAQ:PTLA) traded up 2.48% during midday trading on Monday, hitting $40.42. 918,105 shares of the company were exchanged. The company’s 50 day moving average price is $33.16 and its 200 day moving average price is $24.14. Portola Pharmaceuticals has a one year low of $15.68 and a one year high of $41.27. The firm’s market cap is $2.29 billion.
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Portola Pharmaceuticals (NASDAQ:PTLA) last issued its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.17. The business earned $13.70 million during the quarter, compared to analyst estimates of $3.98 million. Portola Pharmaceuticals had a negative return on equity of 82.19% and a negative net margin of 1,072.67%. Portola Pharmaceuticals’s revenue was up 211.4% on a year-over-year basis. During the same period in the prior year, the company posted ($1.23) earnings per share. Equities analysts expect that Portola Pharmaceuticals will post ($3.56) EPS for the current year.
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In other Portola Pharmaceuticals news, Director Charles J. Homcy sold 50,000 shares of the company’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $40.06, for a total value of $2,003,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Mardi Dier sold 10,235 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $40.02, for a total value of $409,604.70. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc boosted its stake in shares of Portola Pharmaceuticals by 2.0% in the second quarter. IFP Advisors Inc now owns 4,318 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 83 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of 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 worth $186,000 after buying an additional 1,140 shares during the period. Advisor Group Inc. boosted its stake in shares of Portola Pharmaceuticals by 225.7% in the third quarter. Advisor Group Inc. now owns 8,950 shares of the biopharmaceutical company’s stock worth $204,000 after buying an additional 6,202 shares during the period. Affinity Investment Advisors LLC bought a new stake in shares of Portola Pharmaceuticals during the second quarter worth $226,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Portola Pharmaceuticals during the second quarter worth $230,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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