Portola Pharmaceuticals, Inc. Forecasted to Earn FY2017 Earnings of ($4.86) Per Share (PTLA)
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) – Investment analysts at William Blair dropped their FY2017 EPS estimates for Portola Pharmaceuticals in a research note issued to investors on Tuesday. William Blair analyst M. Phipps now expects that the biopharmaceutical company will post earnings per share of ($4.86) for the year, down from their previous estimate of ($4.85). William Blair currently has a “Outperform” rating on the stock.
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 the Thomson Reuters’ consensus estimate of ($1.10) by ($0.12). The business had revenue of $3.79 million for the quarter, compared to analysts’ expectations of $4.28 million. Portola Pharmaceuticals had a negative return on equity of 145.12% and a negative net margin of 807.93%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.02) EPS. TRADEMARK VIOLATION WARNING: This piece was first posted by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/13/portola-pharmaceuticals-inc-forecasted-to-earn-fy2017-earnings-of-4-86-per-share-ptla.html.
PTLA has been the topic of several other reports. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Portola Pharmaceuticals in a report on Wednesday, September 6th. Zacks Investment Research downgraded shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub raised shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Credit Suisse Group reaffirmed a “neutral” rating and issued a $58.00 price objective (up from $39.00) on shares of Portola Pharmaceuticals in a report on Monday, June 26th. Finally, Cowen and Company upped their price objective on shares of Portola Pharmaceuticals from $45.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, June 26th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $65.15.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Capital Management Holdings LLC. purchased a new stake in Portola Pharmaceuticals during the first quarter worth $968,000. Sivik Global Healthcare LLC purchased a new stake in Portola Pharmaceuticals during the second quarter worth $1,685,000. UBS Asset Management Americas Inc. boosted its holdings in Portola Pharmaceuticals by 32.0% during the first quarter. UBS Asset Management Americas Inc. now owns 399,684 shares of the biopharmaceutical company’s stock worth $15,664,000 after buying an additional 96,962 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Portola Pharmaceuticals during the second quarter worth $1,047,000. Finally, TIAA CREF Investment Management LLC boosted its holdings in Portola Pharmaceuticals by 4.0% during the first quarter. TIAA CREF Investment Management LLC now owns 223,924 shares of the biopharmaceutical company’s stock worth $8,776,000 after buying an additional 8,673 shares in the last quarter. 85.02% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Tao Fu sold 5,812 shares of the stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total transaction of $377,780.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John T. Curnutte sold 10,000 shares of the 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. Corporate insiders own 4.90% 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.
Receive News & Ratings for Portola Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Portola Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.