Portola Pharmaceuticals Inc. (NASDAQ:PTLA) shares gapped up prior to trading on Thursday . The stock had previously closed at $23.57, but opened at $23.61. Portola Pharmaceuticals shares last traded at $24.27, with a volume of 329,865 shares traded.

Several research analysts have recently commented on PTLA shares. Zacks Investment Research raised Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Wednesday, March 30th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Portola Pharmaceuticals in a research note on Monday, March 28th. Goldman Sachs Group Inc. downgraded Portola Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $65.00 to $30.00 in a research note on Monday, March 28th. Morgan Stanley decreased their target price on Portola Pharmaceuticals from $71.00 to $70.00 in a research note on Friday, April 8th. Finally, Cowen and Company reissued a “buy” rating and set a $40.00 target price (down previously from $65.00) on shares of Portola Pharmaceuticals in a research note on Thursday, March 24th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $41.07.

The firm’s market cap is $1.35 billion. The stock’s 50 day moving average is $24.51 and its 200 day moving average is $27.65.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($1.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 quarter in the previous year, the firm posted ($0.95) EPS. On average, analysts forecast that Portola Pharmaceuticals Inc. will post ($5.17) earnings per share for the current fiscal year.

In other Portola Pharmaceuticals news, CEO William Lis sold 5,675 shares of the business’s 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 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 document filed with the SEC, which can be accessed through the SEC website.

Other hedge funds have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System increased its stake in Portola Pharmaceuticals by 2.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 21,017 shares of the biopharmaceutical company’s stock valued at $1,081,000 after buying an additional 430 shares during the last quarter. Nationwide Fund Advisors increased its stake in Portola Pharmaceuticals by 5.8% in the fourth quarter. Nationwide Fund Advisors now owns 46,890 shares of the biopharmaceutical company’s stock valued at $2,412,000 after buying an additional 2,590 shares during the last quarter. Rhumbline Advisers increased its stake in Portola Pharmaceuticals by 16.7% in the fourth quarter. Rhumbline Advisers now owns 49,370 shares of the biopharmaceutical company’s stock valued at $2,540,000 after buying an additional 7,075 shares during the last quarter. ProShare Advisors LLC increased its stake in Portola Pharmaceuticals by 11.5% in the fourth quarter. ProShare Advisors LLC now owns 51,743 shares of the biopharmaceutical company’s stock valued at $2,662,000 after buying an additional 5,324 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Portola Pharmaceuticals by 17.2% in the fourth quarter. California Public Employees Retirement System now owns 56,000 shares of the biopharmaceutical company’s stock valued at $2,881,000 after buying an additional 8,200 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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