Portola Pharmaceuticals (NASDAQ:PTLA) Trading Up 7.7%

Portola Pharmaceuticals Inc (NASDAQ:PTLA)’s stock price was up 7.7% on Tuesday . The stock traded as high as $7.21 and last traded at $7.15, approximately 2,023,589 shares changed hands during mid-day trading. An increase of 1% from the average daily volume of 1,994,681 shares. The stock had previously closed at $6.64.

A number of research firms recently weighed in on PTLA. Cowen lowered their price target on shares of Portola Pharmaceuticals from $45.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Zacks Investment Research lowered shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Oppenheimer cut Portola Pharmaceuticals from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $40.00 to $17.00 in a report on Friday, January 10th. ValuEngine upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Finally, BidaskClub upgraded Portola Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $30.43.

The stock has a market capitalization of $565.27 million, a price-to-earnings ratio of -1.71 and a beta of 1.98. The company’s 50-day moving average is $10.68 and its 200-day moving average is $21.70. The company has a quick ratio of 4.47, a current ratio of 4.51 and a debt-to-equity ratio of 2.56.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($1.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.88) by ($0.36). The firm had revenue of $29.25 million for the quarter, compared to analyst estimates of $28.96 million. Portola Pharmaceuticals had a negative return on equity of 282.00% and a negative net margin of 249.20%. Sell-side analysts anticipate that Portola Pharmaceuticals Inc will post -2.85 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new position in Portola Pharmaceuticals during the third quarter worth $42,000. Great West Life Assurance Co. Can acquired a new position in Portola Pharmaceuticals during the 4th quarter worth about $117,000. Virtu Financial LLC acquired a new position in Portola Pharmaceuticals during the 3rd quarter worth about $223,000. Atria Investments LLC purchased a new position in Portola Pharmaceuticals during the 4th quarter valued at about $209,000. Finally, SG Americas Securities LLC purchased a new position in Portola Pharmaceuticals during the 4th quarter valued at about $245,000.

About Portola Pharmaceuticals (NASDAQ:PTLA)

Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes novel therapeutics in the areas of thrombosis and other hematologic disorders and inflammation in the United States. The company offers Andexxa, 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 venous thromboembolism in adult patients hospitalized for an acute medical illness.

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