Portola Pharmaceuticals (PTLA) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of Portola Pharmaceuticals (NASDAQ:PTLA) from a sell rating to a hold rating in a research report released on Thursday.

Other equities analysts also recently issued reports about the company. Citigroup cut their target price on Portola Pharmaceuticals from $64.00 to $50.00 and set a buy rating for the company in a research note on Friday, August 10th. Oppenheimer set a $70.00 target price on Portola Pharmaceuticals and gave the stock a buy rating in a research note on Thursday, August 9th. Cowen reissued a buy rating on shares of Portola Pharmaceuticals in a research note on Thursday, August 9th. William Blair reissued a buy rating on shares of Portola Pharmaceuticals in a research note on Monday, August 27th. Finally, Zacks Investment Research raised Portola Pharmaceuticals from a hold rating to a buy rating and set a $27.00 target price for the company in a research note on Thursday, October 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Portola Pharmaceuticals currently has an average rating of Hold and a consensus target price of $43.43.

Portola Pharmaceuticals stock traded down $1.19 during mid-day trading on Thursday, reaching $21.95. 1,935,400 shares of the company were exchanged, compared to its average volume of 1,374,696. Portola Pharmaceuticals has a twelve month low of $18.18 and a twelve month 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 -4.56 and a beta of 2.04.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($1.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.46. The company had revenue of $14.20 million during the quarter, compared to analysts’ expectations of $7.10 million. Portola Pharmaceuticals had a negative return on equity of 111.64% and a negative net margin of 1,503.29%. The firm’s revenue for the quarter was up 270.8% on a year-over-year basis. During the same period last year, the firm earned ($1.41) EPS. Equities analysts predict that Portola Pharmaceuticals will post -5.85 earnings per share for the current year.

In other Portola Pharmaceuticals news, Director Jeffrey W. Bird bought 137,563 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was acquired at an average cost of $25.17 per share, with a total value of $3,462,460.71. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey W. Bird bought 390,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were acquired at an average cost of $25.84 per share, with a total value of $10,077,600.00. The disclosure for this purchase can be found here. Corporate insiders own 4.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC purchased a new position in Portola Pharmaceuticals in the 2nd quarter valued at approximately $191,000. BB&T Securities LLC purchased a new position in Portola Pharmaceuticals in the 2nd quarter valued at approximately $201,000. Oppenheimer Asset Management Inc. purchased a new position in Portola Pharmaceuticals in the 2nd quarter valued at approximately $230,000. Quantitative Systematic Strategies LLC purchased a new position in Portola Pharmaceuticals in the 2nd quarter valued at approximately $234,000. Finally, Smith Asset Management Group LP increased its stake in Portola Pharmaceuticals by 51.1% in the 3rd quarter. Smith Asset Management Group LP now owns 8,100 shares of the biopharmaceutical company’s stock valued at $216,000 after purchasing an additional 2,740 shares in the last quarter. 94.47% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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