Portola Pharmaceuticals’ (PTLA) Buy Rating Reiterated at Oppenheimer Holdings Inc.
PTLA has been the subject of a number of other reports. Credit Suisse Group AG upped their price objective on Portola Pharmaceuticals from $20.00 to $29.00 and gave the stock an outperform rating in a report on Tuesday, December 27th. Citigroup Inc set a $39.00 target price on Portola Pharmaceuticals and gave the company a buy rating in a report on Friday, February 17th. Vetr cut Portola Pharmaceuticals from a strong-buy rating to a buy rating and set a $45.18 target price for the company. in a report on Monday, March 20th. CIBC upgraded Portola Pharmaceuticals from a market perform rating to an outperform rating in a report on Friday, February 24th. Finally, Cowen and Company increased their price objective on Portola Pharmaceuticals from $40.00 to $45.00 and gave the stock an outperform rating in a report on Monday, March 20th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $39.15.
Portola Pharmaceuticals (NASDAQ:PTLA) opened at 38.22 on Wednesday. The company’s market cap is $2.16 billion. The company’s 50-day moving average is $38.40 and its 200-day moving average is $26.77. Portola Pharmaceuticals has a 12 month low of $15.68 and a 12 month high of $41.27.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings data on Tuesday, February 28th. The biopharmaceutical company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.17. Portola Pharmaceuticals had a negative return on equity of 82.19% and a negative net margin of 1,072.67%. The firm earned $13.70 million during the quarter, compared to analysts’ expectations of $3.98 million. During the same period in the prior year, the business earned ($1.23) EPS. The company’s revenue for the quarter was up 211.4% compared to the same quarter last year. On average, equities research analysts anticipate that Portola Pharmaceuticals will post ($3.56) earnings per share for the current year.
In other Portola Pharmaceuticals news, EVP Tao Fu sold 1,097 shares of Portola Pharmaceuticals stock in a transaction on Monday, April 10th. The stock was sold at an average price of $36.97, for a total value of $40,556.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Lis sold 6,750 shares of Portola Pharmaceuticals stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $36.06, for a total value of $243,405.00. Following the completion of the sale, the chief executive officer now directly owns 4,730 shares of the company’s stock, valued at approximately $170,563.80. The disclosure for this sale can be found here. In the last three months, insiders sold 68,082 shares of company stock valued at $2,696,566. Corporate insiders own 4.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in Portola Pharmaceuticals by 5.6% in the third quarter. BlackRock Fund Advisors now owns 2,058,331 shares of the biopharmaceutical company’s stock worth $46,745,000 after buying an additional 109,789 shares during the period. State Street Corp increased its position in Portola Pharmaceuticals by 1.7% in the fourth quarter. State Street Corp now owns 2,016,452 shares of the biopharmaceutical company’s stock worth $45,242,000 after buying an additional 34,027 shares during the period. Sectoral Asset Management Inc increased its position in 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 during the period. BlackRock Institutional Trust Company N.A. increased its position in Portola Pharmaceuticals by 3.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,402,266 shares of the biopharmaceutical company’s stock worth $31,845,000 after buying an additional 50,984 shares during the period. Finally, Emerald Advisers Inc. PA increased its position in Portola Pharmaceuticals by 16.1% in the third quarter. Emerald Advisers Inc. PA now owns 743,559 shares of the biopharmaceutical company’s stock valued at $16,886,000 after buying an additional 103,115 shares during the period. Hedge funds and other institutional investors own 87.38% of the company’s stock.
Portola Pharmaceuticals Company Profile
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 having 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.
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