Portola Pharmaceuticals (PTLA) Given a $80.00 Price Target by Oppenheimer Analysts

Portola Pharmaceuticals (NASDAQ:PTLA) has been given a $80.00 price objective by stock analysts at Oppenheimer in a report issued on Tuesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Oppenheimer’s price target would suggest a potential upside of 56.89% from the stock’s previous close. Oppenheimer also issued estimates for Portola Pharmaceuticals’ FY2017 earnings at ($5.04) EPS, Q1 2018 earnings at $0.07 EPS, Q2 2018 earnings at ($1.20) EPS, Q3 2018 earnings at ($1.01) EPS, Q4 2018 earnings at ($0.94) EPS, FY2018 earnings at ($2.98) EPS and FY2019 earnings at ($0.27) EPS.

Other analysts also recently issued research reports about the stock. Credit Suisse Group raised shares of Portola Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $70.00 price objective for the company in a report on Wednesday, August 23rd. Goldman Sachs Group started coverage on shares of Portola Pharmaceuticals in a research report on Friday, December 1st. They issued a “buy” rating and a $75.00 target price for the company. Morgan Stanley restated an “overweight” rating and issued a $81.00 target price (up from $75.00) on shares of Portola Pharmaceuticals in a research report on Friday, October 6th. Finally, BidaskClub upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $71.15.

Portola Pharmaceuticals (NASDAQ:PTLA) traded up $3.39 during midday trading on Tuesday, reaching $50.99. 2,277,300 shares of the company’s stock were exchanged, compared to its average volume of 972,137. 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 52-week low of $18.63 and a 52-week high of $67.10.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($1.41) earnings per share (EPS) for the quarter, beating the Zacks’ 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 business’s revenue for the quarter was down 58.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.64) EPS. research analysts forecast that Portola Pharmaceuticals will post -4.94 EPS for the current fiscal year.

In other news, Director Henry Ward Wolff sold 12,000 shares of the business’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.50% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Aperio Group LLC acquired a new position in Portola Pharmaceuticals during the 2nd quarter worth approximately $250,000. Russell Investments Group Ltd. acquired a new position in Portola Pharmaceuticals during the 2nd quarter worth approximately $1,047,000. IFP Advisors Inc increased its position in Portola Pharmaceuticals by 7.7% during the 2nd quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 170 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Portola Pharmaceuticals by 3.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 228,187 shares of the biopharmaceutical company’s stock worth $12,818,000 after purchasing an additional 6,964 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Portola Pharmaceuticals by 326.6% during the 2nd quarter. First Trust Advisors LP now owns 70,858 shares of the biopharmaceutical company’s stock worth $3,980,000 after purchasing an additional 54,248 shares in the last quarter. 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.