Portola Pharmaceuticals Inc. (NASDAQ:PTLA) saw strong trading volume on Friday . 822,177 shares were traded 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.

Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. William Blair reaffirmed a “buy” rating on shares of Portola Pharmaceuticals in a research note on Monday, March 28th. Credit Suisse Group AG downgraded shares of Portola Pharmaceuticals from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $33.00 to $30.00 in a research note on Tuesday, May 31st. Cowen and Company cut their price target on shares of Portola Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, March 25th. Finally, Citigroup Inc. lifted their price target on shares of Portola Pharmaceuticals from $29.00 to $36.00 and gave the company a “buy” rating in a report on Friday, May 27th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Portola Pharmaceuticals presently has an average rating of “Buy” and an average price target of $41.07.

The firm’s market cap is $1.27 billion. The company’s 50 day moving average price is $24.92 and its 200 day moving average price is $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 earned $8.30 million during the quarter, compared to analysts’ expectations 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 company earned ($0.95) EPS. On average, equities analysts forecast that Portola Pharmaceuticals Inc. will post ($5.17) earnings per share for the current year.

In related news, CEO William Lis sold 5,675 shares of the stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $23.86, for a total transaction of $135,405.50. Following the sale, the chief executive officer now owns 18,333 shares in the company, valued at approximately $437,425.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Other hedge funds recently added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in Portola Pharmaceuticals by 31.1% in the fourth quarter. Jennison Associates LLC now owns 858,523 shares of the biopharmaceutical company’s stock valued at $44,171,000 after buying an additional 203,505 shares during the last quarter. Wells Fargo & Company MN raised its stake in Portola Pharmaceuticals by 3.7% in the fourth quarter. Wells Fargo & Company MN now owns 293,921 shares of the biopharmaceutical company’s stock valued at $15,121,000 after buying an additional 10,544 shares during the last quarter. Morgan Stanley raised its stake in Portola Pharmaceuticals by 7.2% in the fourth quarter. Morgan Stanley now owns 234,948 shares of the biopharmaceutical company’s stock valued at $12,089,000 after buying an additional 15,853 shares during the last quarter. Fernwood Investment Management LLC raised its stake 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 valued at $10,599,000 after buying an additional 16,000 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake 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 valued at $4,759,000 after buying an additional 8,209 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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