Portola Pharmaceuticals (NASDAQ:PTLA) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday.

PTLA has been the topic of several other reports. Oppenheimer reaffirmed a “buy” rating and issued a $80.00 price target on shares of Portola Pharmaceuticals in a research note on Wednesday, September 6th. Goldman Sachs Group initiated coverage on Portola Pharmaceuticals in a research note on Friday, December 1st. They issued a “buy” rating and a $75.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price target (up from $75.00) on shares of Portola Pharmaceuticals in a research note on Friday, October 6th. Finally, Credit Suisse Group raised Portola Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $70.00 price target on the stock in a research note on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $71.15.

Shares of Portola Pharmaceuticals (NASDAQ:PTLA) traded up $1.66 during mid-day trading on Thursday, reaching $52.71. The company had a trading volume of 580,544 shares, compared to its average volume of 968,181. Portola Pharmaceuticals has a 12 month low of $17.48 and a 12 month high of $67.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 8.31 and a current ratio of 8.31.

Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.49) by $0.08. The company had revenue of $3.83 million for the quarter, compared to analysts’ expectations of $4.71 million. Portola Pharmaceuticals had a negative return on equity of 110.46% and a negative net margin of 938.19%. The firm’s revenue for the quarter was down 58.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.64) earnings per share. equities analysts anticipate that Portola Pharmaceuticals will post -4.95 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTLA. Renaissance Technologies LLC purchased a new stake in shares of Portola Pharmaceuticals in the second quarter worth $21,187,000. Kornitzer Capital Management Inc. KS grew its stake in shares of Portola Pharmaceuticals by 38.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 727,812 shares of the biopharmaceutical company’s stock worth $39,324,000 after acquiring an additional 202,925 shares during the last quarter. Zevenbergen Capital Investments LLC grew its stake in shares of Portola Pharmaceuticals by 71.4% in the second quarter. Zevenbergen Capital Investments LLC now owns 452,190 shares of the biopharmaceutical company’s stock worth $25,400,000 after acquiring an additional 188,320 shares during the last quarter. Blue Jay Capital Management LLC purchased a new stake in shares of Portola Pharmaceuticals in the second quarter worth $6,740,000. Finally, State Street Corp lifted its holdings in shares of Portola Pharmaceuticals by 5.3% during the second quarter. State Street Corp now owns 2,085,838 shares of the biopharmaceutical company’s stock valued at $117,164,000 after purchasing an additional 105,207 shares in the last quarter. 87.45% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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