Portola Pharmaceuticals Inc. (NASDAQ:PTLA)’s share price gapped up before the market opened 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 trading hands.

Several research firms have recently issued reports on PTLA. Credit Suisse Group AG cut Portola Pharmaceuticals from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $33.00 to $30.00 in a research note on Tuesday, May 31st. Citigroup Inc. boosted their target price on Portola Pharmaceuticals from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, May 27th. Zacks Investment Research raised Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Thursday, July 7th. Morgan Stanley reduced their target price on Portola Pharmaceuticals from $71.00 to $70.00 in a research note on Friday, April 8th. Finally, Goldman Sachs Group Inc. cut Portola Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the company from $65.00 to $30.00 in a research note on Monday, March 28th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $41.07.

The company’s market cap is $1.37 billion. The company has a 50 day moving average of $24.40 and a 200-day moving average of $27.48.

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

In other news, CEO William Lis sold 5,675 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 18,333 shares of the company’s stock, valued at approximately $437,425.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Several large investors recently bought and sold shares of the stock. Swiss National Bank raised its stake in Portola Pharmaceuticals by 20.6% in the fourth quarter. Swiss National Bank now owns 70,300 shares of the biopharmaceutical company’s stock valued at $3,617,000 after buying an additional 12,000 shares during the last quarter. Trexquant Investment LP bought a new stake in Portola Pharmaceuticals during the fourth quarter valued at about $3,154,000. State Board of Administration of Florida Retirement System raised 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. 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, Rhumbline Advisers raised 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.

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.