Portola Pharmaceuticals Inc. (NASDAQ:PTLA) shares were down 2.5% during mid-day trading on Monday . The stock traded as low as $26.56 and last traded at $26.92, with a volume of 427,224 shares. The stock had previously closed at $27.60.

Several research analysts have issued reports on PTLA shares. Zacks Investment Research upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, July 7th. Citigroup Inc. increased their price objective on Portola Pharmaceuticals from $29.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, May 27th. Finally, Credit Suisse Group AG lowered Portola Pharmaceuticals from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $33.00 to $30.00 in a research note on Tuesday, May 31st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Portola Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $41.07.

The firm’s market capitalization is $1.51 billion. The firm’s 50 day moving average price is $24.39 and its 200 day moving average price is $26.51.

Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($1.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.06) by $0.09. The company earned $8.30 million during the quarter, compared to analyst estimates of $7.91 million. Portola Pharmaceuticals’s revenue for the quarter was up 245.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.95) EPS. Equities research analysts predict that Portola Pharmaceuticals Inc. will post ($5.17) EPS for the current year.

Several hedge funds recently added to or reduced their stakes in PTLA. 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 worth $1,081,000 after buying an additional 430 shares during the last quarter. New York State Common Retirement Fund increased its stake 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. 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 worth $2,540,000 after buying an additional 7,075 shares during the last quarter. 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 worth $2,881,000 after buying an additional 8,200 shares during the last quarter. Finally, Wells Fargo & Company MN increased 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 worth $15,121,000 after buying an additional 10,544 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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