Portola Pharmaceuticals (NASDAQ:PTLA) has been given a $80.00 price objective by research analysts at Oppenheimer in a research note issued on Thursday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Oppenheimer’s target price indicates a potential upside of 69.31% from the stock’s current price.
Other analysts have also issued research reports about the company. Citigroup reaffirmed a “buy” rating and issued a $74.00 price objective on shares of Portola Pharmaceuticals in a report on Thursday. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price objective (up previously from $75.00) on shares of Portola Pharmaceuticals in a report on Friday, October 6th. Goldman Sachs Group initiated coverage on Portola Pharmaceuticals in a report on Friday, December 1st. They set a “buy” rating and a $75.00 price target for the company. Finally, BidaskClub lowered Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. Portola Pharmaceuticals has a consensus rating of “Buy” and an average price target of $70.65.
Shares of Portola Pharmaceuticals (NASDAQ PTLA) traded down $0.57 on Thursday, hitting $47.25. The company had a trading volume of 1,223,690 shares, compared to its average volume of 981,223. The company has a quick ratio of 8.31, a current ratio of 8.31 and a debt-to-equity ratio of 0.24. Portola Pharmaceuticals has a one year low of $22.17 and a one year high of $67.10. The company has a market capitalization of $3,200.00, a price-to-earnings ratio of -10.94 and a beta of 1.21.
In other Portola Pharmaceuticals news, Director Henry Ward Wolff sold 12,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $47.00, for a total transaction of $564,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC boosted its stake in shares of Portola Pharmaceuticals by 392.7% in the third quarter. Neuberger Berman Group LLC now owns 23,014 shares of the biopharmaceutical company’s stock worth $1,243,000 after acquiring an additional 18,343 shares during the period. California Public Employees Retirement System boosted its stake in shares of Portola Pharmaceuticals by 3.8% in the third quarter. California Public Employees Retirement System now owns 40,500 shares of the biopharmaceutical company’s stock worth $2,188,000 after acquiring an additional 1,500 shares during the period. Valeo Financial Advisors LLC bought a new position in shares of Portola Pharmaceuticals in the third quarter worth about $276,000. Cubist Systematic Strategies LLC bought a new position in shares of Portola Pharmaceuticals in the third quarter worth about $218,000. Finally, Sectoral Asset Management Inc boosted its stake in shares of Portola Pharmaceuticals by 20.0% in the third quarter. Sectoral Asset Management Inc now owns 506,414 shares of the biopharmaceutical company’s stock worth $27,362,000 after acquiring an additional 84,271 shares during the period. 87.25% of the stock is owned by institutional investors and hedge funds.
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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.
