Brokerages Anticipate Portola Pharmaceuticals Inc (PTLA) Will Announce Quarterly Sales of $2.42 Million

Brokerages expect that Portola Pharmaceuticals Inc (NASDAQ:PTLA) will report sales of $2.42 million for the current quarter, according to Zacks. Two analysts have provided estimates for Portola Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $2.40 million and the highest estimate coming in at $2.44 million. Portola Pharmaceuticals posted sales of $13.69 million in the same quarter last year, which suggests a negative year-over-year growth rate of 82.3%. The business is expected to report its next earnings report on Tuesday, February 27th.

According to Zacks, analysts expect that Portola Pharmaceuticals will report full-year sales of $2.42 million for the current year, with estimates ranging from $15.14 million to $18.66 million. For the next financial year, analysts forecast that the business will post sales of $157.06 million per share, with estimates ranging from $133.11 million to $203.47 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Portola Pharmaceuticals.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.49) by $0.08. Portola Pharmaceuticals had a negative return on equity of 110.46% and a negative net margin of 938.19%. The business had revenue of $3.83 million for the quarter, compared to analysts’ expectations of $4.71 million. During the same quarter in the previous year, the firm earned ($1.64) earnings per share. The business’s revenue was down 58.9% compared to the same quarter last year.

PTLA has been the topic of a number of research analyst reports. Oppenheimer set a $80.00 target price on Portola Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, January 15th. Goldman Sachs Group initiated coverage on Portola Pharmaceuticals in a research report on Friday, December 1st. They set a “buy” rating and a $75.00 target price on the stock. BidaskClub cut Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. Citigroup reiterated a “buy” rating and set a $74.00 target price on shares of Portola Pharmaceuticals in a research report on Thursday, December 28th. Finally, Zacks Investment Research upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $70.65.

Shares of Portola Pharmaceuticals (PTLA) opened at $47.87 on Wednesday. The company has a current ratio of 8.31, a quick ratio of 8.31 and a debt-to-equity ratio of 0.24. Portola Pharmaceuticals has a 52-week low of $26.90 and a 52-week high of $67.10. The company has a market capitalization of $3,020.49, a PE ratio of -11.27 and a beta of 1.18.

In related 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 value of $564,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.50% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. QS Investors LLC acquired a new position in Portola Pharmaceuticals in the 2nd quarter valued at about $147,000. Oppenheimer Asset Management Inc. increased its position in Portola Pharmaceuticals by 251.2% in the 3rd 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. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Portola Pharmaceuticals by 54.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,219 shares of the biopharmaceutical company’s stock valued at $157,000 after acquiring an additional 1,141 shares during the period. Canada Pension Plan Investment Board acquired a new position in Portola Pharmaceuticals in the 3rd quarter valued at about $178,000. Finally, Sei Investments Co. acquired a new position in Portola Pharmaceuticals in the 3rd quarter valued at about $217,000. Hedge funds and other institutional investors own 87.29% 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.

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Earnings History and Estimates for Portola Pharmaceuticals (NASDAQ:PTLA)

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