Portola Pharmaceuticals Inc. (PTLA) Shares Down 1.9%
Portola Pharmaceuticals Inc. (NASDAQ:PTLA) was down 1.9% on Monday . The company traded as low as $23.81 and last traded at $23.82, with a volume of 453,947 shares. The stock had previously closed at $24.27.
A number of equities research analysts have recently weighed in on PTLA shares. Morgan Stanley dropped their target price on Portola Pharmaceuticals from $71.00 to $70.00 in a research report on Friday, April 8th. Zacks Investment Research upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Thursday, July 7th. William Blair restated a “buy” rating on shares of Portola Pharmaceuticals in a research report on Monday, March 28th. Credit Suisse Group AG restated a “buy” rating on shares of Portola Pharmaceuticals in a research report on Monday, March 28th. Finally, Cowen and Company restated a “buy” rating and set a $40.00 target price (down previously from $65.00) on shares of Portola Pharmaceuticals in a research report on Thursday, March 24th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $41.07.
The firm’s market capitalization is $1.35 billion. The stock has a 50 day moving average of $25.36 and a 200 day moving average of $28.63.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.06) by $0.09. The business earned $8.30 million during the quarter, compared to analyst estimates of $7.91 million. The business’s revenue was up 245.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.95) EPS. Analysts predict that Portola Pharmaceuticals Inc. will post ($5.17) EPS for the current fiscal year.
In other Portola Pharmaceuticals news, CEO William Lis sold 5,675 shares of Portola Pharmaceuticals stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $23.86, for a total transaction of $135,405.50. Following the completion of the transaction, the chief executive officer now owns 18,333 shares in the company, valued at approximately $437,425.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
A number of institutional investors recently added to or reduced their stakes in PTLA. American Century Companies Inc. increased its position in Portola Pharmaceuticals by 20.1% in the fourth quarter. American Century Companies Inc. now owns 63,305 shares of the biopharmaceutical company’s stock worth $3,257,000 after buying an additional 10,580 shares during the period. Profund Advisors LLC increased its position in Portola Pharmaceuticals by 5.3% in the fourth quarter. Profund Advisors LLC now owns 40,514 shares of the biopharmaceutical company’s stock worth $2,084,000 after buying an additional 2,022 shares during the period. California State Teachers Retirement System increased its position in Portola Pharmaceuticals by 9.7% in the fourth quarter. California State Teachers Retirement System now owns 92,491 shares of the biopharmaceutical company’s stock worth $4,759,000 after buying an additional 8,209 shares during the period. Swiss National Bank increased its position in Portola Pharmaceuticals by 20.6% in the fourth quarter. Swiss National Bank now owns 70,300 shares of the biopharmaceutical company’s stock worth $3,617,000 after buying an additional 12,000 shares during the period. Finally, Trexquant Investment LP bought a new position in Portola Pharmaceuticals during the fourth quarter worth about $3,154,000.
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.
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