Portola Pharmaceuticals, Inc. (PTLA) Cut to Sell at BidaskClub
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday.
PTLA has been the topic of a number of other reports. ValuEngine upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research cut Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Credit Suisse Group reiterated a “neutral” rating and issued a $58.00 target price (up from $39.00) on shares of Portola Pharmaceuticals in a research note on Monday, June 26th. Cowen and Company raised their target price on Portola Pharmaceuticals from $45.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, June 26th. Finally, Oppenheimer Holdings, Inc. set a $46.00 target price on Portola Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, May 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Portola Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $63.77.
Shares of Portola Pharmaceuticals (PTLA) traded up 1.45% during trading on Friday, hitting $53.99. 694,590 shares of the stock were exchanged. The company’s market cap is $3.11 billion. Portola Pharmaceuticals has a 12-month low of $15.68 and a 12-month high of $67.10. The firm has a 50 day moving average of $60.53 and a 200-day moving average of $43.46.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) 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 the consensus estimate 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 quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.02) earnings per share. On average, analysts forecast that Portola Pharmaceuticals will post ($4.86) earnings per share for the current year.
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In other news, major shareholder (Mauritius) Pte Ltd Maxwell sold 1,700,000 shares of the firm’s 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 document filed with the SEC, which can be accessed through the SEC website. Also, EVP Tao Fu sold 5,812 shares of the firm’s 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 disclosure for this sale can be found here. Insiders have sold 2,289,656 shares of company stock worth $91,298,131 over the last three months. Corporate insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Portola Pharmaceuticals by 68,964.1% in the first quarter. BlackRock Inc. now owns 4,034,725 shares of the biopharmaceutical company’s stock worth $158,121,000 after buying an additional 4,028,883 shares during the period. Kornitzer Capital Management Inc. KS acquired a new position in shares of Portola Pharmaceuticals during the second quarter worth approximately $29,483,000. Norges Bank acquired a new position in shares of Portola Pharmaceuticals during the fourth quarter worth approximately $10,046,000. Renaissance Technologies LLC acquired a new position in shares of Portola Pharmaceuticals during the second quarter worth approximately $21,187,000. Finally, Bogle Investment Management L P DE acquired a new position in shares of Portola Pharmaceuticals during the first quarter worth approximately $12,945,000. 86.47% of the stock is currently owned by 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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