Portola Pharmaceuticals, Inc. (PTLA) Rating Increased to Buy at BidaskClub
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Monday.
A number of other brokerages have also recently weighed in on PTLA. Zacks Investment Research raised shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday, July 18th. Citigroup Inc. set a $51.00 target price on shares of Portola Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, April 12th. Oppenheimer Holdings, Inc. boosted their target price on shares of Portola Pharmaceuticals from $66.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday. William Blair reissued an “outperform” rating on shares of Portola Pharmaceuticals in a research report on Monday, June 26th. Finally, Cowen and Company boosted their target price on shares of Portola Pharmaceuticals from $45.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, June 26th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $62.27.
Portola Pharmaceuticals (PTLA) traded down 0.09% during mid-day trading on Monday, hitting $65.98. 639,026 shares of the stock were exchanged. Portola Pharmaceuticals has a one year low of $15.68 and a one year high of $67.10. The company has a 50-day moving average price of $49.40 and a 200-day moving average price of $38.37. The company’s market cap is $3.76 billion.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $5.12 million for the quarter, compared to analysts’ expectations of $4.21 million. During the same period last year, the company earned ($1.15) earnings per share. The company’s quarterly revenue was down 37.9% on a year-over-year basis. Analysts forecast that Portola Pharmaceuticals will post ($4.30) earnings per share for the current fiscal year.
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In related news, EVP Tao Fu sold 5,812 shares of Portola Pharmaceuticals stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total value of $377,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John T. Curnutte sold 10,000 shares of Portola Pharmaceuticals stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $65.00, for a total transaction of $650,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,289,656 shares of company stock worth $91,298,131. Corporate insiders own 4.90% of the company’s stock.
Several hedge funds have recently modified their holdings of PTLA. Smith Asset Management Group LP bought a new stake in shares of Portola Pharmaceuticals during the first quarter worth about $371,000. Bank of New York Mellon Corp raised its stake in shares of Portola Pharmaceuticals by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 250,723 shares of the biopharmaceutical company’s stock worth $9,825,000 after buying an additional 18,211 shares during the period. US Bancorp DE raised its stake in shares of Portola Pharmaceuticals by 0.3% in the first quarter. US Bancorp DE now owns 41,106 shares of the biopharmaceutical company’s stock worth $1,611,000 after buying an additional 106 shares during the period. Princeton Alpha Management LP bought a new stake in shares of Portola Pharmaceuticals during the first quarter worth about $360,000. Finally, Sheaff Brock Investment Advisors LLC bought a new stake in shares of Portola Pharmaceuticals during the first quarter worth about $1,403,000. Institutional investors and hedge funds own 84.97% 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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