FY2017 EPS Estimates for Portola Pharmaceuticals, Inc. (PTLA) Lifted by Analyst
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) – Equities research analysts at William Blair lifted their FY2017 earnings per share estimates for Portola Pharmaceuticals in a research report issued on Wednesday. William Blair analyst M. Phipps now expects that the biopharmaceutical company will post earnings per share of ($4.85) for the year, up from their prior estimate of ($4.86). William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Portola Pharmaceuticals’ Q1 2018 earnings at ($1.08) EPS, Q2 2018 earnings at ($0.86) EPS, Q3 2018 earnings at ($0.47) EPS, Q4 2018 earnings at ($0.15) EPS and FY2018 earnings at ($2.56) EPS.
PTLA has been the topic of a number of other reports. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $80.00 price objective on shares of Portola Pharmaceuticals in a research report on Wednesday, September 6th. BidaskClub raised shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Zacks Investment Research raised shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Tuesday, July 18th. Citigroup Inc. set a $51.00 price objective on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, June 17th. Finally, Credit Suisse Group AG set a $70.00 price objective on shares of Portola Pharmaceuticals and gave the company a “hold” rating in a research report on Thursday, August 10th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $63.77.
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Portola Pharmaceuticals (PTLA) opened at 53.82 on Friday. Portola Pharmaceuticals has a 1-year low of $15.68 and a 1-year high of $67.10. The stock’s 50 day moving average is $56.00 and its 200-day moving average is $48.77. The company’s market capitalization is $3.10 billion.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.10) by ($0.12). Portola Pharmaceuticals had a negative net margin of 807.93% and a negative return on equity of 145.12%. The business had revenue of $3.79 million for the quarter, compared to the consensus estimate of $4.28 million. During the same quarter in the prior year, the business posted ($1.02) earnings per share. Portola Pharmaceuticals’s revenue for the quarter was down 10.4% on a year-over-year basis.
In other news, EVP Tao Fu sold 5,812 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John T. Curnutte sold 10,000 shares of the company’s stock in a transaction on 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. Over the last three months, insiders sold 39,162 shares of company stock worth $2,428,780. Insiders own 4.90% of the company’s stock.
A number of large investors have recently modified their holdings of PTLA. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Portola Pharmaceuticals by 14.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock worth $117,000 after purchasing an additional 258 shares during the period. Jacobi Capital Management LLC purchased a new position in Portola Pharmaceuticals during the 2nd quarter worth $125,000. IFP Advisors Inc raised its position in Portola Pharmaceuticals by 7.7% during the 2nd 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 last quarter. QS Investors LLC purchased a new position in Portola Pharmaceuticals during the 2nd quarter worth $147,000. Finally, Ameritas Investment Partners Inc. purchased a new position in Portola Pharmaceuticals during the 1st quarter worth $167,000. Hedge funds and other institutional investors own 85.02% 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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