Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) Stock Rating Lowered by Zacks Investment Research
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
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. “
A number of other analysts also recently weighed in on the company. BidaskClub downgraded Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday. Oppenheimer Holdings, Inc. lifted their price target on Portola Pharmaceuticals from $66.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, July 24th. 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. Morgan Stanley lifted their price target on Portola Pharmaceuticals from $50.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 26th. Finally, Cowen and Company lifted their price target on Portola Pharmaceuticals from $45.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, June 26th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $62.27.
Portola Pharmaceuticals (PTLA) opened at 60.92 on Tuesday. Portola Pharmaceuticals has a 52 week low of $15.68 and a 52 week high of $67.10. The firm’s market capitalization is $3.47 billion. The stock’s 50 day moving average price is $55.56 and its 200 day moving average price is $40.78.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.20) by $0.46. Portola Pharmaceuticals had a negative return on equity of 106.68% and a negative net margin of 759.21%. The firm had revenue of $5.12 million for the quarter, compared to the consensus estimate of $4.21 million. During the same period in the previous year, the business earned ($1.15) earnings per share. The company’s revenue for the quarter was down 37.9% compared to the same quarter last year. On average, equities analysts expect that Portola Pharmaceuticals will post ($4.30) EPS for the current year.
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In related news, major shareholder (Mauritius) Pte Ltd Maxwell sold 1,700,000 shares of Portola Pharmaceuticals stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $34.40, for a total transaction of $58,480,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Lis sold 269,299 shares of Portola Pharmaceuticals stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $55.43, for a total value of $14,927,243.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,289,656 shares of company stock valued at $91,298,131. 4.90% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in Portola Pharmaceuticals by 7.7% in the second quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 170 shares during the period. First Mercantile Trust Co. bought a new position in Portola Pharmaceuticals during the first quarter worth $165,000. Ameritas Investment Partners Inc. bought a new position in Portola Pharmaceuticals during the first quarter worth $167,000. Aperio Group LLC bought a new position in Portola Pharmaceuticals during the second quarter worth $250,000. Finally, Teacher Retirement System of Texas bought a new position in Portola Pharmaceuticals during the second quarter worth $253,000. 86.26% of the stock is owned by institutional investors.
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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