Sphera Funds Management LTD. Raises Position in Portola Pharmaceuticals Inc (PTLA)

Sphera Funds Management LTD. increased its stake in shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 22.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 147,000 shares of the biopharmaceutical company’s stock after acquiring an additional 27,000 shares during the quarter. Sphera Funds Management LTD. owned about 0.22% of Portola Pharmaceuticals worth $3,915,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Portola Pharmaceuticals by 1.1% during the third quarter. BlackRock Inc. now owns 5,307,407 shares of the biopharmaceutical company’s stock worth $141,335,000 after acquiring an additional 55,895 shares during the last quarter. Temasek Holdings Private Ltd boosted its position in shares of Portola Pharmaceuticals by 6.0% during the second quarter. Temasek Holdings Private Ltd now owns 5,174,168 shares of the biopharmaceutical company’s stock worth $195,428,000 after acquiring an additional 290,600 shares during the last quarter. Cadian Capital Management LP lifted its position in Portola Pharmaceuticals by 83.7% during the second quarter. Cadian Capital Management LP now owns 2,280,201 shares of the biopharmaceutical company’s stock valued at $86,123,000 after purchasing an additional 1,039,257 shares during the last quarter. William Blair Investment Management LLC bought a new position in Portola Pharmaceuticals during the third quarter valued at $48,521,000. Finally, Zevenbergen Capital Investments LLC lifted its position in Portola Pharmaceuticals by 51.1% during the second quarter. Zevenbergen Capital Investments LLC now owns 1,253,625 shares of the biopharmaceutical company’s stock valued at $47,349,000 after purchasing an additional 424,100 shares during the last quarter.

PTLA has been the subject of several research reports. William Blair reiterated a “buy” rating on shares of Portola Pharmaceuticals in a research report on Monday, August 27th. Oppenheimer set a $60.00 price objective on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a research report on Sunday, August 26th. Citigroup lowered their price objective on shares of Portola Pharmaceuticals from $64.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, August 10th. Zacks Investment Research upgraded shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, October 11th. Finally, Morgan Stanley lowered their price objective on shares of Portola Pharmaceuticals from $45.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, August 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Portola Pharmaceuticals presently has an average rating of “Buy” and an average price target of $37.50.

PTLA stock opened at $20.68 on Friday. Portola Pharmaceuticals Inc has a 52 week low of $18.18 and a 52 week high of $56.70. The company has a current ratio of 6.61, a quick ratio of 6.51 and a debt-to-equity ratio of 1.21.

Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($1.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.54) by $0.46. Portola Pharmaceuticals had a negative net margin of 1,020.52% and a negative return on equity of 135.08%. The business had revenue of $14.20 million during the quarter, compared to analyst estimates of $7.10 million. During the same quarter last year, the business earned ($1.41) earnings per share. Portola Pharmaceuticals’s quarterly revenue was up 270.8% compared to the same quarter last year. Analysts forecast that Portola Pharmaceuticals Inc will post -5.03 EPS for the current year.

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About Portola Pharmaceuticals

Portola Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics that could advance the fields of thrombosis and other hematologic diseases. The company's two FDA-approved medicines are Andexxa (coagulation factor Xa (recombinant), inactivated-zhzo), an antidote for patients treated with rivaroxaban and apixaban when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding; and Bevyxxa (betrixaban), an oral, once-daily Factor Xa inhibitor for the prevention of VTE in adult patients hospitalized for an acute medical illness.

Further Reading: Analyst Ratings

Institutional Ownership by Quarter for Portola Pharmaceuticals (NASDAQ:PTLA)

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