Portola Pharmaceuticals (PTLA) Rating Lowered to Sell at Zacks Investment Research

Portola Pharmaceuticals (NASDAQ:PTLA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

According to Zacks, “Portola Pharmaceuticals, Inc. is a biopharmaceutical company .It focuses on the development and commercialization of therapeutics for thrombosis, other hematologic disorders and inflammation. Portola Pharmaceuticals, Inc. is headquartered in South San Francisco, California. “

Several other analysts also recently weighed in on the stock. Oppenheimer reiterated an “outperform” rating on shares of Portola Pharmaceuticals in a report on Tuesday, January 2nd. William Blair restated a “buy” rating on shares of Portola Pharmaceuticals in a research note on Monday, January 1st. Citigroup restated a “buy” rating and issued a $74.00 price target on shares of Portola Pharmaceuticals in a research note on Thursday, December 28th. BidaskClub upgraded shares of Portola Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 21st. Finally, Goldman Sachs Group began coverage on shares of Portola Pharmaceuticals in a research note on Friday, December 1st. They issued a “buy” rating and a $75.00 price target for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $70.65.

Portola Pharmaceuticals (NASDAQ:PTLA) traded down $0.15 during trading on Thursday, reaching $48.69. 720,185 shares of the company traded hands, compared to its average volume of 991,792. Portola Pharmaceuticals has a 12-month low of $23.70 and a 12-month high of $67.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.31 and a quick ratio of 8.31. The firm has a market cap of $3,180.00, a P/E ratio of -11.27 and a beta of 1.21.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.49) by $0.08. Portola Pharmaceuticals had a negative net margin of 938.19% and a negative return on equity of 110.46%. The firm had revenue of $3.83 million during the quarter, compared to the consensus estimate of $4.71 million. During the same quarter last year, the firm earned ($1.64) EPS. The firm’s revenue for the quarter was down 58.9% on a year-over-year basis. research analysts predict that Portola Pharmaceuticals will post -4.94 earnings per share for the current year.

In other Portola Pharmaceuticals news, Director Henry Ward Wolff sold 12,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $47.00, for a total value of $564,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.50% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Portola Pharmaceuticals by 14.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock worth $117,000 after purchasing an additional 258 shares in the last quarter. Jacobi Capital Management LLC acquired a new position in shares of Portola Pharmaceuticals during the second quarter worth $125,000. QS Investors LLC acquired a new position in shares of Portola Pharmaceuticals during the second quarter worth $147,000. Oppenheimer Asset Management Inc. grew its stake in shares of Portola Pharmaceuticals by 251.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 2,862 shares of the biopharmaceutical company’s stock worth $155,000 after purchasing an additional 2,047 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Portola Pharmaceuticals during the third quarter worth $178,000. Hedge funds and other institutional investors own 87.25% of the company’s stock.

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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.

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