Shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) have earned a consensus rating of “Buy” from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $41.45.
Several brokerages have recently commented on PTLA. Vetr cut shares of Portola Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $45.18 target price for the company. in a research report on Monday, March 20th. Cowen and Company boosted their target price on shares of Portola Pharmaceuticals from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, March 20th. Citigroup Inc. set a $51.00 target price on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, April 3rd. Morgan Stanley boosted their target price on shares of Portola Pharmaceuticals from $31.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, March 6th. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Portola Pharmaceuticals in a research report on Wednesday, March 22nd.
In related news, major shareholder (Mauritius) Pte Ltd Maxwell sold 1,700,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $34.40, for a total transaction of $58,480,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey W. Bird acquired 119,442 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were bought at an average price of $31.85 per share, with a total value of $3,804,227.70. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at $95,550. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 1,707,847 shares of company stock valued at $58,763,961. 4.90% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Portola Pharmaceuticals by 1.7% in the fourth quarter. State Street Corp now owns 2,016,452 shares of the biopharmaceutical company’s stock valued at $45,242,000 after buying an additional 34,027 shares during the period. Princeton Alpha Management LP acquired a new position in shares of Portola Pharmaceuticals during the first quarter valued at about $360,000. Highland Capital Management LP boosted its position in shares of Portola Pharmaceuticals by 41.5% in the fourth quarter. Highland Capital Management LP now owns 56,900 shares of the biopharmaceutical company’s stock valued at $1,277,000 after buying an additional 16,700 shares during the period. Marcus Capital LLC boosted its position in shares of Portola Pharmaceuticals by 5.4% in the first quarter. Marcus Capital LLC now owns 97,675 shares of the biopharmaceutical company’s stock valued at $3,828,000 after buying an additional 4,975 shares during the period. Finally, Putnam Investments LLC boosted its position in shares of Portola Pharmaceuticals by 3.0% in the fourth quarter. Putnam Investments LLC now owns 10,531 shares of the biopharmaceutical company’s stock valued at $236,000 after buying an additional 310 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.
Portola Pharmaceuticals (PTLA) traded down 1.13% on Friday, reaching $35.06. 1,401,455 shares of the company traded hands. Portola Pharmaceuticals has a 52-week low of $15.68 and a 52-week high of $42.74. The firm’s market cap is $2.00 billion. The stock has a 50-day moving average price of $38.70 and a 200-day moving average price of $32.19.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($1.20) by $0.46. The company had revenue of $5.12 million during the quarter, compared to analysts’ expectations of $4.21 million. Portola Pharmaceuticals had a negative net margin of 759.21% and a negative return on equity of 106.68%. The business’s revenue for the quarter was down 37.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.15) EPS. Analysts anticipate that Portola Pharmaceuticals will post ($4.66) earnings per share for the current fiscal year.
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 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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