Portola Pharmaceuticals, Inc. (PTLA) Receives Consensus Rating of “Buy” from Analysts
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) has received an average rating of “Buy” from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $64.45.
A number of brokerages have weighed in on PTLA. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $80.00 target price on shares of Portola Pharmaceuticals in a research report on Tuesday, November 7th. Morgan Stanley reiterated an “overweight” rating and set a $81.00 target price (up previously from $75.00) on shares of Portola Pharmaceuticals in a research report on Friday, October 6th. BidaskClub upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Credit Suisse Group upgraded shares of Portola Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $70.00 target price for the company in a research report on Wednesday, August 23rd. Finally, Zacks Investment Research lowered shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th.
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Several hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp bought a new position in shares of Portola Pharmaceuticals in the third quarter valued at approximately $268,000. Dimensional Fund Advisors LP purchased a new stake in Portola Pharmaceuticals in the third quarter valued at approximately $662,000. Moody Aldrich Partners LLC purchased a new stake in Portola Pharmaceuticals in the third quarter valued at approximately $470,000. Schwab Charles Investment Management Inc. raised its stake in Portola Pharmaceuticals by 18.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 270,471 shares of the biopharmaceutical company’s stock valued at $14,614,000 after purchasing an additional 42,284 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Portola Pharmaceuticals by 12.0% in the third quarter. Wells Fargo & Company MN now owns 46,793 shares of the biopharmaceutical company’s stock valued at $2,529,000 after purchasing an additional 5,010 shares in the last quarter. Institutional investors own 86.04% of the company’s stock.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.08. The firm had revenue of $3.83 million during the quarter, compared to analyst estimates of $4.71 million. Portola Pharmaceuticals had a negative net margin of 938.19% and a negative return on equity of 110.46%. The company’s quarterly revenue was down 58.9% on a year-over-year basis. During the same quarter last year, the business earned ($1.64) earnings per share. analysts predict that Portola Pharmaceuticals will post -4.95 EPS for the current fiscal year.
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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