Portola Pharmaceuticals (PTLA) PT Lowered to $30.00

Portola Pharmaceuticals (NASDAQ:PTLA) had its price target decreased by analysts at Credit Suisse Group from $34.00 to $30.00 in a report released on Thursday. The firm currently has a “hold” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s price target indicates a potential upside of 36.67% from the stock’s previous close.

Several other equities analysts also recently weighed in on PTLA. Oppenheimer set a $30.00 price target on shares of Portola Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research downgraded shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 11th. Cowen reiterated a “buy” rating on shares of Portola Pharmaceuticals in a report on Thursday, August 9th. ValuEngine downgraded shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, August 13th. Finally, Morgan Stanley cut their price target on shares of Portola Pharmaceuticals from $45.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, August 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $43.43.

Shares of Portola Pharmaceuticals stock traded down $1.19 during midday trading on Thursday, hitting $21.95. The company had a trading volume of 1,935,411 shares, compared to its average volume of 1,549,224. The firm has a market capitalization of $1.26 billion, a P/E ratio of -4.56 and a beta of 2.04. The company has a quick ratio of 6.59, a current ratio of 6.69 and a debt-to-equity ratio of 0.91. Portola Pharmaceuticals has a 12-month low of $18.18 and a 12-month high of $56.70.

Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($1.08) earnings per share for the quarter, topping 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 120.54%. The company had revenue of $14.20 million for the quarter, compared to the consensus estimate of $7.10 million. During the same quarter in the prior year, the company earned ($1.41) EPS. Portola Pharmaceuticals’s quarterly revenue was up 270.8% on a year-over-year basis. As a group, research analysts anticipate that Portola Pharmaceuticals will post -5.85 earnings per share for the current fiscal year.

In other news, Director Jeffrey W. Bird acquired 390,000 shares of the company’s stock in a transaction dated Thursday, August 23rd. The shares were acquired at an average price of $25.84 per share, with a total value of $10,077,600.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey W. Bird acquired 137,563 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were purchased at an average cost of $25.17 per share, for a total transaction of $3,462,460.71. The disclosure for this purchase can be found here. 4.60% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Portola Pharmaceuticals during the 2nd quarter worth approximately $191,000. BB&T Securities LLC acquired a new stake in shares of Portola Pharmaceuticals during the 2nd quarter worth approximately $201,000. Smith Asset Management Group LP grew its stake in shares of Portola Pharmaceuticals by 51.1% during the 3rd 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. acquired a new stake in shares of Portola Pharmaceuticals during the 2nd quarter worth approximately $230,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Portola Pharmaceuticals during the 2nd quarter worth approximately $234,000. 94.47% of the stock is currently owned by institutional investors and hedge funds.

Portola Pharmaceuticals Company Profile

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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Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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