Portola Pharmaceuticals Inc. (PTLA) Sees Large Volume Increase
Shares of Portola Pharmaceuticals Inc. (NASDAQ:PTLA) saw an uptick in trading volume on Wednesday . 3,745,895 shares traded hands during trading, an increase of 233% from the previous session’s volume of 1,123,240 shares.The stock last traded at $23.66 and had previously closed at $26.61.
Several brokerages have commented on PTLA. Citigroup Inc. boosted their price target on shares of Portola Pharmaceuticals from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Credit Suisse Group AG cut shares of Portola Pharmaceuticals from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $30.00 in a research report on Tuesday, May 31st. Finally, Zacks Investment Research cut shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $41.64.
The stock’s market cap is $1.34 billion. The stock’s 50 day moving average price is $24.98 and its 200 day moving average price is $25.96.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.02) EPS for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.18. During the same quarter in the previous year, the business posted ($1.12) earnings per share. The company earned $4.23 million during the quarter, compared to analyst estimates of $4.38 million. The company’s revenue for the quarter was up 75.0% compared to the same quarter last year. Equities analysts predict that Portola Pharmaceuticals Inc. will post ($5.07) earnings per share for the current year.
A number of large investors recently bought and sold shares of PTLA. Jennison Associates LLC boosted 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 worth $44,171,000 after buying an additional 203,505 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Portola Pharmaceuticals during the fourth quarter worth about $3,154,000. Morgan Stanley boosted its position in shares of Portola Pharmaceuticals by 7.2% in the fourth quarter. Morgan Stanley now owns 234,948 shares of the biopharmaceutical company’s stock worth $12,089,000 after buying an additional 15,853 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of 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 in the last quarter. Finally, California Public Employees Retirement System boosted its position 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 in 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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