Brokers Offer Predictions for Portola Pharmaceuticals, Inc.’s Q3 2017 Earnings (NASDAQ:PTLA)
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) – Equities researchers at Oppenheimer Holdings raised their Q3 2017 earnings per share (EPS) estimates for Portola Pharmaceuticals in a research report issued to clients and investors on Thursday. Oppenheimer Holdings analyst J. Olson now anticipates that the biopharmaceutical company will post earnings of ($1.68) per share for the quarter, up from their prior forecast of ($1.70). Oppenheimer Holdings currently has a “Outperform” rating and a $80.00 target price on the stock. Oppenheimer Holdings also issued estimates for Portola Pharmaceuticals’ Q4 2017 earnings at ($1.49) EPS, FY2017 earnings at ($5.14) EPS, FY2018 earnings at ($0.05) EPS, FY2020 earnings at $4.86 EPS and FY2021 earnings at $7.75 EPS.
A number of other equities analysts have also recently issued reports on the stock. Credit Suisse Group set a $70.00 price objective on shares of Portola Pharmaceuticals and gave the stock a “hold” rating in a research report on Thursday. They noted that the move was a valuation call. Zacks Investment Research cut shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub cut shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Morgan Stanley upped their price target on shares of Portola Pharmaceuticals from $50.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, June 26th. Finally, 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 report on Monday, June 26th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Portola Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $63.77.
Shares of Portola Pharmaceuticals (NASDAQ:PTLA) opened at 55.68 on Monday. Portola Pharmaceuticals has a one year low of $15.68 and a one year high of $67.10. The firm’s market cap is $3.21 billion. The company has a 50 day moving average of $60.73 and a 200-day moving average of $42.42.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.10) by $0.12. The company had revenue of $3.79 million during the quarter, compared to analyst estimates of $4.28 million. Portola Pharmaceuticals had a negative net margin of 807.93% and a negative return on equity of 145.12%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the prior year, the business earned ($1.02) EPS.
In other news, major shareholder (Mauritius) Pte Ltd Maxwell sold 1,700,000 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $34.40, for a total transaction of $58,480,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey W. Bird acquired 119,442 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were purchased at an average price of $31.85 per share, with a total value of $3,804,227.70. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at $95,550. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 2,289,656 shares of company stock valued at $91,298,131. Corporate insiders own 4.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Portola Pharmaceuticals by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,614,814 shares of the biopharmaceutical company’s stock valued at $180,855,000 after buying an additional 192,420 shares during the period. BlackRock Inc. boosted its stake in Portola Pharmaceuticals by 0.9% in the second quarter. BlackRock Inc. now owns 4,071,966 shares of the biopharmaceutical company’s stock valued at $228,721,000 after buying an additional 37,241 shares during the period. FMR LLC boosted its stake in Portola Pharmaceuticals by 5.6% in the first quarter. FMR LLC now owns 3,902,000 shares of the biopharmaceutical company’s stock valued at $152,919,000 after buying an additional 205,751 shares during the period. Northern Trust Corp boosted its stake in Portola Pharmaceuticals by 3.2% in the second quarter. Northern Trust Corp now owns 635,998 shares of the biopharmaceutical company’s stock valued at $35,724,000 after buying an additional 19,719 shares during the period. Finally, Kornitzer Capital Management Inc. KS purchased a new stake in Portola Pharmaceuticals during the second quarter valued at $29,483,000. Institutional investors own 86.26% of the company’s stock.
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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