Portola Pharmaceuticals Inc (PTLA) Expected to Post Quarterly Sales of $10.43 Million

Analysts expect Portola Pharmaceuticals Inc (NASDAQ:PTLA) to post $10.43 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Portola Pharmaceuticals’ earnings. The highest sales estimate is $10.69 million and the lowest is $10.16 million. Portola Pharmaceuticals posted sales of $9.80 million during the same quarter last year, which suggests a positive year over year growth rate of 6.4%. The company is expected to issue its next quarterly earnings results on Wednesday, February 27th.

According to Zacks, analysts expect that Portola Pharmaceuticals will report full-year sales of $35.41 million for the current year, with estimates ranging from $34.99 million to $35.73 million. For the next fiscal year, analysts expect that the firm will report sales of $97.16 million, with estimates ranging from $61.31 million to $138.41 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Portola Pharmaceuticals.

Portola Pharmaceuticals (NASDAQ:PTLA) last issued its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($1.08) earnings per share (EPS) for the quarter, topping the 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 135.08%. The firm had revenue of $14.20 million for the quarter, compared to analysts’ expectations of $7.10 million. During the same quarter last year, the business earned ($1.41) earnings per share. The business’s revenue was up 270.8% on a year-over-year basis.

Several brokerages have recently issued reports on PTLA. Oppenheimer set a $60.00 target price on shares of Portola Pharmaceuticals and gave the stock a “buy” rating in a report on Sunday, August 26th. MED cut their target price on shares of Portola Pharmaceuticals from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Monday, August 27th. Zacks Investment Research upgraded shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday, November 14th. BidaskClub cut shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. Finally, William Blair restated a “buy” rating on shares of Portola Pharmaceuticals in a report on Wednesday, September 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $42.86.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Portola Pharmaceuticals by 1.1% during the 3rd quarter. BlackRock Inc. now owns 5,307,407 shares of the biopharmaceutical company’s stock worth $141,335,000 after purchasing an additional 55,895 shares during the period. Temasek Holdings Private Ltd increased its position in Portola Pharmaceuticals by 6.0% during the 2nd quarter. Temasek Holdings Private Ltd now owns 5,174,168 shares of the biopharmaceutical company’s stock worth $195,428,000 after purchasing an additional 290,600 shares during the period. Cadian Capital Management LP increased its position in Portola Pharmaceuticals by 83.7% during the 2nd quarter. Cadian Capital Management LP now owns 2,280,201 shares of the biopharmaceutical company’s stock worth $86,123,000 after purchasing an additional 1,039,257 shares during the period. William Blair Investment Management LLC acquired a new position in Portola Pharmaceuticals during the 3rd quarter worth approximately $48,521,000. Finally, Zevenbergen Capital Investments LLC increased its position in Portola Pharmaceuticals by 51.1% during the 2nd quarter. Zevenbergen Capital Investments LLC now owns 1,253,625 shares of the biopharmaceutical company’s stock worth $47,349,000 after purchasing an additional 424,100 shares during the period.

Shares of Portola Pharmaceuticals stock traded down $0.17 on Friday, hitting $19.45. The stock had a trading volume of 464,048 shares, compared to its average volume of 1,372,033. The company has a debt-to-equity ratio of 1.21, a quick ratio of 6.51 and a current ratio of 6.61. Portola Pharmaceuticals has a one year low of $18.18 and a one year high of $56.70. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -4.04 and a beta of 2.04.

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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Earnings History and Estimates for Portola Pharmaceuticals (NASDAQ:PTLA)

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