Q2 2017 EPS Estimates for Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) Boosted by Analyst
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) – Stock analysts at Oppenheimer Holdings boosted their Q2 2017 earnings estimates for shares of Portola Pharmaceuticals in a report issued on Sunday. Oppenheimer Holdings analyst J. Olson now anticipates that the biopharmaceutical company will post earnings per share of ($1.24) for the quarter, up from their prior forecast of ($1.54). Oppenheimer Holdings currently has a “Outperform” rating and a $80.00 price target on the stock. Oppenheimer Holdings also issued estimates for Portola Pharmaceuticals’ Q4 2017 earnings at ($1.52) EPS, FY2017 earnings at ($5.20) EPS, FY2018 earnings at ($1.51) EPS, FY2019 earnings at $0.85 EPS and FY2021 earnings at $7.74 EPS.
Several other research firms also recently commented on PTLA. BidaskClub upgraded shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Investment Research upgraded 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 note on Tuesday, July 18th. Credit Suisse Group restated a “neutral” rating and issued a $58.00 price target (up from $39.00) on shares of Portola Pharmaceuticals in a research note on Monday, June 26th. Cowen and Company upped their price target on shares of Portola Pharmaceuticals from $45.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, June 26th. Finally, William Blair reaffirmed an “outperform” rating on shares of Portola Pharmaceuticals in a research report on Monday, June 26th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Portola Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $62.27.
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Portola Pharmaceuticals (NASDAQ:PTLA) opened at 65.97 on Wednesday. The company’s market capitalization is $3.76 billion. The stock’s 50 day moving average is $51.06 and its 200-day moving average is $39.08. Portola Pharmaceuticals has a 12-month low of $15.68 and a 12-month high of $67.10.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.46. The company had revenue of $5.12 million during the quarter, compared to the consensus estimate of $4.21 million. Portola Pharmaceuticals had a negative net margin of 759.21% and a negative return on equity of 106.68%. The firm’s revenue for the quarter was down 37.9% compared to the same quarter last year. During the same period last year, the firm earned ($1.15) EPS.
In other news, major shareholder (Mauritius) Pte Ltd Maxwell sold 1,700,000 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $34.40, for a total value of $58,480,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Lis sold 269,299 shares of the stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $55.43, for a total transaction of $14,927,243.57. The disclosure for this sale can be found here. Insiders have sold 2,289,656 shares of company stock valued at $91,298,131 in the last ninety days. 4.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of PTLA. First Mercantile Trust Co. bought a new position in Portola Pharmaceuticals during the first quarter worth approximately $165,000. Ameritas Investment Partners Inc. bought a new position in Portola Pharmaceuticals during the first quarter worth approximately $167,000. Fortaleza Asset Management Inc. bought a new position in Portola Pharmaceuticals during the first quarter worth approximately $193,000. Credit Agricole S A bought a new position in Portola Pharmaceuticals during the first quarter worth approximately $196,000. Finally, Putnam Investments LLC boosted its position in Portola Pharmaceuticals by 3.0% in the fourth quarter. Putnam Investments LLC now owns 10,531 shares of the biopharmaceutical company’s stock worth $236,000 after buying an additional 310 shares during the period. 84.97% of the stock is owned by hedge funds and other institutional investors.
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 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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