Wall Street analysts predict that Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) will report sales of $2.42 million for the current quarter, according to Zacks. Two analysts have made estimates for Portola Pharmaceuticals’ earnings. The lowest sales estimate is $2.40 million and the highest is $2.44 million. Portola Pharmaceuticals reported sales of $9.32 million during the same quarter last year, which indicates a negative year-over-year growth rate of 74%. The firm is expected to report its next quarterly earnings results on Monday, November 6th.

According to Zacks, analysts expect that Portola Pharmaceuticals will report full-year sales of $2.42 million for the current fiscal year, with estimates ranging from $13.72 million to $24.44 million. For the next year, analysts forecast that the firm will post sales of $212.43 million per share, with estimates ranging from $158.00 million to $257.97 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Portola Pharmaceuticals.

Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing the consensus estimate 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 company had revenue of $3.79 million for the quarter, compared to analyst estimates of $4.28 million. During the same period last year, the company posted ($1.02) EPS. The business’s revenue for the quarter was down 10.4% on a year-over-year basis.

A number of analysts have issued reports on PTLA shares. Citigroup Inc. lifted their target price on shares of Portola Pharmaceuticals from $51.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, June 26th. William Blair reiterated an “outperform” rating on shares of Portola Pharmaceuticals in a research note on Monday, June 26th. Cowen and Company lifted their target price on shares of Portola Pharmaceuticals from $45.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, June 26th. Oppenheimer Holdings, Inc. lifted their target price on shares of Portola Pharmaceuticals from $46.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 26th. Finally, Morgan Stanley lifted their target price on shares of Portola Pharmaceuticals from $50.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 26th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Portola Pharmaceuticals has an average rating of “Buy” and an average target price of $65.15.

Portola Pharmaceuticals (PTLA) traded down 0.63% during midday trading on Monday, hitting $50.33. 111,416 shares of the stock traded hands. Portola Pharmaceuticals has a 1-year low of $15.68 and a 1-year high of $67.10. The company has a 50-day moving average price of $54.34 and a 200-day moving average price of $49.83. The firm’s market cap is $2.90 billion.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio raised its stake in Portola Pharmaceuticals by 13.5% in the 3rd quarter. Strs Ohio now owns 207,100 shares of the biopharmaceutical company’s stock valued at $11,189,000 after acquiring an additional 24,600 shares during the period. Fisher Asset Management LLC raised its stake in Portola Pharmaceuticals by 32.7% in the 3rd quarter. Fisher Asset Management LLC now owns 61,893 shares of the biopharmaceutical company’s stock valued at $3,344,000 after acquiring an additional 15,256 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Portola Pharmaceuticals in the 2nd quarter valued at $248,000. Arrowstreet Capital Limited Partnership bought a new stake in Portola Pharmaceuticals in the 2nd quarter valued at $1,983,000. Finally, State Street Corp raised its stake in Portola Pharmaceuticals by 5.3% in the 2nd quarter. State Street Corp now owns 2,085,838 shares of the biopharmaceutical company’s stock valued at $117,164,000 after acquiring an additional 105,207 shares during the period. Institutional investors and hedge funds own 85.06% of the company’s stock.

WARNING: This piece was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/23/brokerages-expect-portola-pharmaceuticals-inc-ptla-will-post-quarterly-sales-of-2-42-million.html.

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.

Get a free copy of the Zacks research report on Portola Pharmaceuticals (PTLA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Portola Pharmaceuticals (NASDAQ:PTLA)

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.