Portola Pharmaceuticals Inc. (NASDAQ:PTLA)’s share price shot up 5.2% during mid-day trading on Wednesday . The stock traded as high as $23.73 and last traded at $23.61, with a volume of 596,644 shares trading hands. The stock had previously closed at $22.45.

Several brokerages have recently issued reports on PTLA. Zacks Investment Research downgraded shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Credit Suisse Group AG cut shares of Portola Pharmaceuticals from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $33.00 to $30.00 in a research note on Tuesday, May 31st. Citigroup Inc. lifted their price objective on shares of Portola Pharmaceuticals from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, May 27th. Morgan Stanley cut their price objective on shares of Portola Pharmaceuticals from $71.00 to $70.00 in a research note on Friday, April 8th. Finally, William Blair restated a “buy” rating on shares of Portola Pharmaceuticals in a research note on Monday, March 28th. 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 target price of $41.07.

The firm’s market cap is $1.33 billion. The company has a 50 day moving average of $24.60 and a 200 day moving average of $27.68.

Portola Pharmaceuticals (NASDAQ:PTLA) last issued 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. During the same period last year, the firm earned ($0.95) EPS. The company earned $8.30 million during the quarter, compared to analyst estimates of $7.91 million. The company’s quarterly revenue was up 245.8% compared to the same quarter last year. On average, equities analysts anticipate that Portola Pharmaceuticals Inc. will post ($5.17) EPS for the current year.

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

Other hedge funds recently made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its stake in shares of 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 worth $1,081,000 after buying an additional 430 shares during the period. Nationwide Fund Advisors boosted its stake in shares of Portola Pharmaceuticals by 5.8% in the fourth quarter. Nationwide Fund Advisors now owns 46,890 shares of the biopharmaceutical company’s stock worth $2,412,000 after buying an additional 2,590 shares during the period. Rhumbline Advisers boosted its stake in shares of Portola Pharmaceuticals by 16.7% in the fourth quarter. Rhumbline Advisers now owns 49,370 shares of the biopharmaceutical company’s stock worth $2,540,000 after buying an additional 7,075 shares during the period. ProShare Advisors LLC boosted its stake in shares of 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 period. Finally, California Public Employees Retirement System boosted its stake in shares of 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 worth $2,881,000 after buying an additional 8,200 shares during the period.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.