Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $70.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.69% from the stock’s previous close.

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 equities analysts also recently issued reports on PTLA. Cowen and Company boosted their price target on shares of Portola Pharmaceuticals from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, March 20th. Vetr downgraded shares of Portola Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $45.18 price target for the company. in a report on Monday, March 20th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Portola Pharmaceuticals in a report on Wednesday, March 22nd. Citigroup Inc. set a $51.00 price target on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a report on Monday, April 3rd. Finally, ValuEngine raised shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $60.52.

Shares of Portola Pharmaceuticals (PTLA) opened at 63.24 on Tuesday. The firm’s market cap is $3.61 billion. The company’s 50-day moving average is $40.65 and its 200-day moving average is $34.25. Portola Pharmaceuticals has a 52 week low of $15.68 and a 52 week high of $64.15.

Portola Pharmaceuticals (NASDAQ:PTLA) last released its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($1.20) by $0.46. Portola Pharmaceuticals had a negative net margin of 759.21% and a negative return on equity of 106.68%. The firm had revenue of $5.12 million during the quarter, compared to analyst estimates of $4.21 million. During the same quarter in the previous year, the firm earned ($1.15) earnings per share. The firm’s revenue for the quarter was down 37.9% compared to the same quarter last year. Analysts forecast that Portola Pharmaceuticals will post ($4.30) EPS for the current fiscal year.

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In other Portola Pharmaceuticals news, major shareholder (Mauritius) Pte Ltd Maxwell sold 1,700,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $34.40, for a total transaction of $58,480,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey W. Bird acquired 119,442 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were bought at an average price of $31.85 per share, for a total transaction of $3,804,227.70. Following the acquisition, the director now owns 3,000 shares in the company, valued at approximately $95,550. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 2,273,844 shares of company stock worth $90,270,351. Corporate insiders own 4.90% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. First Mercantile Trust Co. acquired a new position in shares of Portola Pharmaceuticals during the first quarter worth $165,000. Ameritas Investment Partners Inc. acquired a new position in shares of Portola Pharmaceuticals during the first quarter worth $167,000. Fortaleza Asset Management Inc. acquired a new position in shares of Portola Pharmaceuticals during the first quarter worth $193,000. Credit Agricole S A acquired a new position in shares of Portola Pharmaceuticals during the first quarter worth $196,000. Finally, Amalgamated Bank acquired a new position in shares of Portola Pharmaceuticals during the first quarter worth $237,000. Institutional investors own 85.23% 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 having 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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Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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