Portola Pharmaceuticals Inc. (PTLA) Stock Price Up 2%
Portola Pharmaceuticals Inc. (NASDAQ:PTLA)’s share price rose 2% during mid-day trading on Thursday . The stock traded as high as $20.99 and last traded at $20.76, with a volume of 528,385 shares trading hands. The stock had previously closed at $20.36.
PTLA has been the subject of several analyst reports. Citigroup Inc. boosted their price objective on Portola Pharmaceuticals from $29.00 to $36.00 and gave the company a “buy” rating in a report on Friday, May 27th. Credit Suisse Group AG lowered Portola Pharmaceuticals from an “outperform” rating to a “neutral” rating and cut their price target for the company from $33.00 to $30.00 in a research note on Tuesday, May 31st. Zacks Investment Research upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday, July 7th. Cowen and Company restated a “buy” rating on shares of Portola Pharmaceuticals in a research note on Thursday, August 18th. Finally, Morgan Stanley cut their price target on Portola Pharmaceuticals from $61.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, August 19th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $32.64.
The stock’s market capitalization is $1.18 billion. The company has a 50 day moving average of $23.84 and a 200-day moving average of $25.13.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($1.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.20) by $0.18. During the same period in the previous year, the business posted ($1.12) EPS. The firm had revenue of $4.23 million for the quarter, compared to analysts’ expectations of $4.38 million. The business’s revenue for the quarter was up 75.0% compared to the same quarter last year. Equities research analysts anticipate that Portola Pharmaceuticals Inc. will post ($4.39) earnings per share for the current year.
An institutional investor recently raised its position in Portola Pharmaceuticals stock. Morgan Stanley boosted its stake in Portola Pharmaceuticals Inc. (NASDAQ:PTLA) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,948 shares of the biopharmaceutical company’s stock after buying an additional 15,853 shares during the period. Morgan Stanley owned 0.45% of Portola Pharmaceuticals worth $12,089,000 as of its most recent SEC filing.
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.