Equities research analysts at Goldman Sachs Group began coverage on shares of Portola Pharmaceuticals (NASDAQ:PTLA) in a report released on Friday, December 1st, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $75.00 price target on the biopharmaceutical company’s stock. Goldman Sachs Group’s price target would indicate a potential upside of 54.07% from the company’s previous close.
Several other research analysts have also issued reports on the stock. Morgan Stanley restated an “overweight” rating and issued a $81.00 price target (up previously from $75.00) on shares of Portola Pharmaceuticals in a research report on Friday, October 6th. 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 research note on Wednesday, August 23rd. Oppenheimer set a $80.00 price objective on shares of Portola Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, October 6th. BidaskClub raised shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research lowered shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $70.65.
Portola Pharmaceuticals (PTLA) traded up $1.43 during trading on Friday, reaching $48.68. 1,295,960 shares of the company’s stock traded hands, compared to its average volume of 1,041,301. The company has a debt-to-equity ratio of 0.24, a quick ratio of 8.31 and a current ratio of 8.31. The firm has a market capitalization of $3,083.14, a price-to-earnings ratio of -11.27 and a beta of 1.21. Portola Pharmaceuticals has a 12-month low of $22.20 and a 12-month high of $67.10.
In related 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 is accessible through this link. Company insiders own 5.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Kornitzer Capital Management Inc. KS boosted its stake in shares of Portola Pharmaceuticals by 38.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 727,812 shares of the biopharmaceutical company’s stock valued at $39,324,000 after buying an additional 202,925 shares during the period. Sivik Global Healthcare LLC acquired a new stake in shares of Portola Pharmaceuticals during the 2nd quarter valued at $1,685,000. State Street Corp boosted its stake in shares of Portola Pharmaceuticals by 5.3% during the 2nd quarter. State Street Corp now owns 2,085,838 shares of the biopharmaceutical company’s stock valued at $117,164,000 after buying an additional 105,207 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Portola Pharmaceuticals during the 2nd quarter valued at $1,047,000. Finally, Numeric Investors LLC acquired a new stake in shares of Portola Pharmaceuticals during the 2nd quarter valued at $753,000. 87.25% of the stock is owned by hedge funds and other institutional investors.
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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.
