Portola Pharmaceuticals Inc (NASDAQ:PTLA) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Monday. They currently have a $45.18 price target on the biopharmaceutical company’s stock. Vetr‘s price target indicates a potential upside of 11.78% from the company’s current price.
A number of other equities research analysts have also recently commented on PTLA. Oppenheimer Holdings Inc. set a $28.00 target price on Portola Pharmaceuticals and gave the company a “hold” rating in a report on Wednesday, February 8th. Cowen and Company set a $40.00 target price on Portola Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, February 8th. Credit Suisse Group AG increased their target price on Portola Pharmaceuticals from $20.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, December 27th. Zacks Investment Research raised Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Wednesday, January 11th. Finally, Citigroup Inc set a $39.00 price target on Portola Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, February 17th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $37.65.
Portola Pharmaceuticals (NASDAQ:PTLA) traded up 2.48% on Monday, reaching $40.42. The company had a trading volume of 918,105 shares. Portola Pharmaceuticals has a 12 month low of $15.68 and a 12 month high of $41.27. The stock’s market capitalization is $2.29 billion. The firm has a 50-day moving average of $33.16 and a 200-day moving average of $24.14.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.17. The firm had revenue of $13.70 million for the quarter, compared to analysts’ expectations of $3.98 million. Portola Pharmaceuticals had a negative return on equity of 82.19% and a negative net margin of 1,072.67%. Portola Pharmaceuticals’s quarterly revenue was up 211.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.23) EPS. On average, equities research analysts expect that Portola Pharmaceuticals will post ($3.56) earnings per share for the current fiscal year.
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In other Portola Pharmaceuticals news, VP Mardi Dier sold 10,235 shares of the stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $40.02, for a total transaction of $409,604.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Charles J. Homcy sold 50,000 shares of the stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $40.06, for a total value of $2,003,000.00. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Peregrine Capital Management LLC acquired a new position in shares of Portola Pharmaceuticals during the third quarter worth $10,255,000. Norges Bank acquired a new position in shares of Portola Pharmaceuticals during the fourth quarter worth $10,046,000. Strs Ohio acquired a new position in shares of Portola Pharmaceuticals during the third quarter worth $4,428,000. Sectoral Asset Management Inc raised its position in shares of Portola Pharmaceuticals by 15.4% in the third quarter. Sectoral Asset Management Inc now owns 1,419,208 shares of the biopharmaceutical company’s stock worth $32,230,000 after buying an additional 189,826 shares in the last quarter. Finally, Orbimed Advisors LLC raised its position in shares of Portola Pharmaceuticals by 48.7% in the fourth quarter. Orbimed Advisors LLC now owns 551,500 shares of the biopharmaceutical company’s stock worth $12,376,000 after buying an additional 180,600 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors.
About Portola Pharmaceuticals
Portola Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics in the areas of thrombosis, other hematologic disorders and inflammation for patients who have limited or no approved treatment options. The Company’s two lead programs, Betrixaban and Andexanet alfa, address unmet medical needs in the area of thrombosis, or blood clots.
To view Vetr’s full report, visit Vetr’s official website.
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