William Blair Brokers Reduce Earnings Estimates for Portola Pharmaceuticals, Inc. (PTLA)
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) – Analysts at William Blair decreased their FY2017 EPS estimates for Portola Pharmaceuticals in a research note issued on Wednesday. William Blair analyst M. Phipps now expects that the biopharmaceutical company will post earnings of ($4.86) per share for the year, down from their previous estimate of ($4.85). William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Portola Pharmaceuticals’ FY2018 earnings at ($2.73) EPS.
PTLA has been the topic of a number of other research reports. ValuEngine upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Credit Suisse Group reiterated a “neutral” rating and set a $58.00 price target (up previously from $39.00) on shares of Portola Pharmaceuticals in a report on Monday, June 26th. Finally, Cowen and Company lifted their price target on shares of Portola Pharmaceuticals from $45.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, June 26th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $63.77.
Portola Pharmaceuticals (NASDAQ PTLA) opened at 53.22 on Friday. Portola Pharmaceuticals has a 1-year low of $15.68 and a 1-year high of $67.10. The stock has a 50 day moving average price of $60.60 and a 200-day moving average price of $43.25. The firm’s market cap is $3.07 billion.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share for the quarter, missing the Zacks’ consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned ($1.02) EPS.
In other news, major shareholder (Mauritius) Pte Ltd Maxwell sold 1,700,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $34.40, for a total transaction of $58,480,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John T. Curnutte sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were 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. In the last 90 days, insiders sold 2,289,656 shares of company stock worth $91,298,131. 4.90% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Portola Pharmaceuticals by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 258 shares in the last quarter. Jacobi Capital Management LLC bought a new position in shares of Portola Pharmaceuticals during the second quarter valued at $125,000. IFP Advisors Inc raised its position in shares of Portola Pharmaceuticals by 7.7% in the second quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 170 shares in the last quarter. QS Investors LLC bought a new position in shares of Portola Pharmaceuticals during the second quarter valued at $147,000. Finally, SVA Plumb Wealth Management LLC bought a new position in shares of Portola Pharmaceuticals during the second quarter valued at $205,000. Hedge funds and other institutional investors own 86.47% 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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