Portola Pharmaceuticals (NASDAQ:PTLA) announced its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($1.08) EPS for the quarter, beating the consensus estimate of ($1.54) by $0.46, Briefing.com reports. Portola Pharmaceuticals had a negative return on equity of 111.64% and a negative net margin of 1,503.29%. The company had revenue of $14.20 million for the quarter, compared to the consensus estimate of $7.10 million. During the same quarter last year, the company posted ($1.41) earnings per share. The company’s revenue for the quarter was up 270.8% compared to the same quarter last year.
Shares of PTLA traded down $0.97 during mid-day trading on Friday, hitting $22.17. The company’s stock had a trading volume of 50,447 shares, compared to its average volume of 1,482,546. Portola Pharmaceuticals has a one year low of $18.18 and a one year high of $56.70. The company has a current ratio of 6.69, a quick ratio of 6.59 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -4.59 and a beta of 2.04.
Several equities analysts have commented on PTLA shares. Zacks Investment Research upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, October 11th. ValuEngine downgraded Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, August 13th. Oppenheimer set a $60.00 price target on Portola Pharmaceuticals and gave the company a “buy” rating in a report on Monday, September 10th. BidaskClub downgraded Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 22nd. Finally, William Blair reiterated a “buy” rating on shares of Portola Pharmaceuticals in a report on Monday, August 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $43.43.
Institutional investors and hedge funds have recently bought and sold shares of the company. SeaCrest Wealth Management LLC bought a new position in Portola Pharmaceuticals in the second quarter worth $191,000. BB&T Securities LLC bought a new position in Portola Pharmaceuticals in the second quarter worth $201,000. Smith Asset Management Group LP lifted its position in Portola Pharmaceuticals by 51.1% in the third quarter. Smith Asset Management Group LP now owns 8,100 shares of the biopharmaceutical company’s stock worth $216,000 after purchasing an additional 2,740 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Portola Pharmaceuticals in the second quarter worth $230,000. Finally, Quantitative Systematic Strategies LLC bought a new position in Portola Pharmaceuticals in the second quarter worth $234,000. 94.47% of the stock is owned by institutional investors.
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.
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