BidaskClub Downgrades Portola Pharmaceuticals (PTLA) to Strong Sell

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

Several other equities analysts also recently weighed in on PTLA. Oppenheimer set a $80.00 target price on shares of Portola Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, January 15th. William Blair reiterated a “buy” rating on shares of Portola Pharmaceuticals in a research note on Monday, January 1st. Zacks Investment Research downgraded shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Citigroup reiterated a “buy” rating and issued a $74.00 target price on shares of Portola Pharmaceuticals in a research note on Thursday, December 28th. Finally, Goldman Sachs Group assumed coverage on shares of Portola Pharmaceuticals in a research note on Friday, December 1st. They issued a “buy” rating and a $75.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $70.65.

Portola Pharmaceuticals (NASDAQ:PTLA) traded down $0.06 during midday trading on Friday, reaching $49.63. 641,445 shares of the company were exchanged, compared to its average volume of 1,060,000. Portola Pharmaceuticals has a 1-year low of $24.53 and a 1-year 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 stock has a market capitalization of $3,240.00, a P/E ratio of -11.49 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, topping the consensus estimate of ($1.49) by $0.08. The firm had revenue of $3.83 million during the quarter, compared to the consensus estimate 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 revenue was down 58.9% on a year-over-year basis. During the same quarter last year, the company earned ($1.64) earnings per share. research analysts predict that Portola Pharmaceuticals will post -4.94 earnings per share for the current fiscal year.

In other news, Director Henry Ward Wolff sold 12,000 shares of the firm’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in PTLA. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Portola Pharmaceuticals by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock valued at $117,000 after acquiring an additional 258 shares during the period. QS Investors LLC bought a new position in shares of Portola Pharmaceuticals in the second quarter valued at approximately $147,000. Oppenheimer Asset Management Inc. boosted its position in shares of Portola Pharmaceuticals by 251.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 2,862 shares of the biopharmaceutical company’s stock valued at $155,000 after acquiring an additional 2,047 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Portola Pharmaceuticals in the third quarter valued at approximately $178,000. Finally, WealthPLAN Partners LLC boosted its position in shares of Portola Pharmaceuticals by 2,781.5% in the second quarter. WealthPLAN Partners LLC now owns 3,746 shares of the biopharmaceutical company’s stock valued at $210,000 after acquiring an additional 3,616 shares during the period. Institutional investors own 87.25% of the company’s stock.

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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.

Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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