Portola Pharmaceuticals Inc. (NASDAQ:PTLA) saw unusually-strong trading volume on Friday . Approximately 822,177 shares traded hands during mid-day trading, an increase of 46% from the previous session’s volume of 563,868 shares.The stock last traded at $22.51 and had previously closed at $22.50.

A number of equities research analysts have commented on PTLA shares. Morgan Stanley dropped their price objective on shares of Portola Pharmaceuticals from $71.00 to $70.00 in a research report on Friday, April 8th. Zacks Investment Research downgraded shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th. Credit Suisse Group AG dropped their target price on shares of Portola Pharmaceuticals from $47.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, March 25th. Cowen and Company reaffirmed a “buy” rating and issued a $40.00 target price (down from $65.00) on shares of Portola Pharmaceuticals in a research report on Thursday, March 24th. Finally, Goldman Sachs Group Inc. downgraded shares of Portola Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the company from $65.00 to $30.00 in a research report on Monday, March 28th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $41.07.

The firm’s market capitalization is $1.27 billion. The firm has a 50 day moving average price of $24.92 and a 200 day moving average price of $28.30.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.06) by $0.09. The firm had revenue of $8.30 million for the quarter, compared to analyst estimates of $7.91 million. During the same quarter in the prior year, the firm posted ($0.95) earnings per share. The company’s quarterly revenue was up 245.8% on a year-over-year basis. On average, equities analysts forecast that Portola Pharmaceuticals Inc. will post ($5.17) earnings per share for the current year.

In other news, CEO William Lis sold 5,675 shares of the business’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $23.86, for a total transaction of $135,405.50. Following the transaction, the chief executive officer now directly owns 18,333 shares of the company’s stock, valued at $437,425.38. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Several hedge funds and institutional investors have recently bought and sold shares of the company. Fernwood Investment Management LLC boosted its position in Portola Pharmaceuticals by 8.4% in the fourth quarter. Fernwood Investment Management LLC now owns 206,011 shares of the biopharmaceutical company’s stock worth $10,599,000 after buying an additional 16,000 shares during the last quarter. Morgan Stanley boosted its position in Portola Pharmaceuticals by 7.2% in the fourth quarter. Morgan Stanley now owns 234,948 shares of the biopharmaceutical company’s stock worth $12,089,000 after buying an additional 15,853 shares during the last quarter. EAM Investors LLC boosted its position in Portola Pharmaceuticals by 27.3% in the fourth quarter. EAM Investors LLC now owns 58,832 shares of the biopharmaceutical company’s stock worth $3,027,000 after buying an additional 12,605 shares during the last quarter. New York State Common Retirement Fund boosted its position in Portola Pharmaceuticals by 3.6% in the fourth quarter. New York State Common Retirement Fund now owns 68,123 shares of the biopharmaceutical company’s stock worth $3,505,000 after buying an additional 2,376 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in Portola Pharmaceuticals by 11.5% in the fourth quarter. ProShare Advisors LLC now owns 51,743 shares of the biopharmaceutical company’s stock worth $2,662,000 after buying an additional 5,324 shares during the last quarter.

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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