Brokerages Expect Portola Pharmaceuticals, Inc. (PTLA) Will Announce Quarterly Sales of $2.42 Million
Equities research analysts expect Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) to report sales of $2.42 million for the current quarter, according to Zacks. Two analysts have issued estimates for Portola Pharmaceuticals’ earnings, with estimates ranging from $2.40 million to $2.44 million. Portola Pharmaceuticals reported sales of $9.32 million during the same quarter last year, which would suggest a negative year over year growth rate of 74%. The company is expected to issue its next quarterly earnings report on Monday, November 6th.
According to Zacks, analysts expect that Portola Pharmaceuticals will report full-year sales of $2.42 million for the current year, with estimates ranging from $13.72 million to $24.44 million. For the next fiscal year, analysts expect that the firm will post sales of $261.26 million per share, with estimates ranging from $158.00 million to $369.15 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Portola Pharmaceuticals.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings data 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). Portola Pharmaceuticals had a negative return on equity of 145.12% and a negative net margin of 807.93%. The firm had revenue of $3.79 million during the quarter, compared to analysts’ expectations of $4.28 million. During the same quarter in the previous year, the firm earned ($1.02) earnings per share. Portola Pharmaceuticals’s revenue was down 10.4% on a year-over-year basis.
PTLA has been the subject of a number of analyst reports. ValuEngine raised shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Citigroup Inc. set a $51.00 target price on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, June 17th. BidaskClub raised shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. William Blair reissued an “outperform” rating on shares of Portola Pharmaceuticals in a research report on Monday, June 26th. Finally, Cowen and Company increased their target price 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. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Portola Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $63.77.
In other Portola Pharmaceuticals news, CEO William Lis sold 269,299 shares of the firm’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $55.43, for a total value of $14,927,243.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John T. Curnutte sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 18th. The stock was 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 ninety days, insiders sold 589,656 shares of company stock valued at $32,818,131. Corporate insiders own 4.90% of the company’s stock.
Several institutional investors have recently modified their holdings of PTLA. BlackRock Inc. raised its holdings in shares of Portola Pharmaceuticals by 68,964.1% during the first quarter. BlackRock Inc. now owns 4,034,725 shares of the biopharmaceutical company’s stock worth $158,121,000 after purchasing an additional 4,028,883 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in shares of Portola Pharmaceuticals during the second quarter worth $29,483,000. Renaissance Technologies LLC purchased a new position in shares of Portola Pharmaceuticals during the second quarter worth $21,187,000. Bogle Investment Management L P DE purchased a new position in shares of Portola Pharmaceuticals during the first quarter worth $12,945,000. Finally, FMR LLC raised its holdings in shares of Portola Pharmaceuticals by 5.6% during the first quarter. FMR LLC now owns 3,902,000 shares of the biopharmaceutical company’s stock worth $152,919,000 after purchasing an additional 205,751 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.
Portola Pharmaceuticals (NASDAQ PTLA) opened at 54.81 on Friday. The stock’s market capitalization is $3.16 billion. Portola Pharmaceuticals has a one year low of $15.68 and a one year high of $67.10. The company has a 50-day moving average of $58.50 and a 200-day moving average of $47.10.
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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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