Portola Pharmaceuticals Inc. (NASDAQ:PTLA) shares shot up 3.2% during trading on Tuesday . The company traded as high as $20.08 and last traded at $19.84, with a volume of 797,595 shares trading hands. The stock had previously closed at $19.22.

A number of research firms have recently commented on PTLA. Zacks Investment Research upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Credit Suisse Group AG cut Portola Pharmaceuticals from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $33.00 to $30.00 in a research note on Tuesday, May 31st. Citigroup Inc. raised their target price on Portola Pharmaceuticals from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Morgan Stanley lowered their target price on Portola Pharmaceuticals from $61.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Cowen and Company restated a “buy” rating on shares of Portola Pharmaceuticals in a research note on Thursday, August 18th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $32.64.

The stock’s 50-day moving average price is $24.63 and its 200 day moving average price is $25.60. The company’s market capitalization is $1.13 billion.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.18. The company had revenue of $4.23 million for the quarter, compared to analysts’ expectations of $4.38 million. During the same quarter in the prior year, the company earned ($1.12) EPS. The firm’s quarterly revenue was up 75.0% on a year-over-year basis. On average, equities analysts forecast that Portola Pharmaceuticals Inc. will post ($4.58) EPS for the current fiscal year.

Other hedge funds recently bought and sold shares of the company. Jennison Associates LLC raised its stake in shares of Portola Pharmaceuticals by 31.1% in the fourth quarter. Jennison Associates LLC now owns 858,523 shares of the biopharmaceutical company’s stock valued at $44,171,000 after buying an additional 203,505 shares in the last quarter. Wells Fargo & Company MN raised its stake 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 valued at $15,121,000 after buying an additional 10,544 shares in the last quarter. Morgan Stanley raised its stake 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 valued at $12,089,000 after buying an additional 15,853 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of 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 valued at $3,505,000 after buying an additional 2,376 shares in the last quarter. Finally, California Public Employees Retirement System raised 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 valued at $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.

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.