Portola Pharmaceuticals Inc. (PTLA) Stock Price Up 2%
Portola Pharmaceuticals Inc. (NASDAQ:PTLA) rose 2% on Thursday . The stock traded as high as $20.99 and last traded at $20.76, with a volume of 528,385 shares traded. The stock had previously closed at $20.36.
PTLA has been the topic of several analyst reports. Citigroup Inc. lowered shares of Portola Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their target price for the stock from $40.00 to $24.00 in a report on Friday, August 19th. Zacks Investment Research raised shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, July 7th. Morgan Stanley lowered their price objective on shares of Portola Pharmaceuticals from $61.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, August 19th. Credit Suisse Group AG lowered their price objective on shares of Portola Pharmaceuticals from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 19th. Finally, Cowen and Company reissued a “buy” rating on shares of Portola Pharmaceuticals in a research report on Thursday, August 18th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Portola Pharmaceuticals has a consensus rating of “Buy” and an average target price of $32.64.
The stock has a 50 day moving average of $23.80 and a 200 day moving average of $25.10. The company’s market capitalization is $1.19 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 the Zacks’ consensus estimate of ($1.20) by $0.18. The business had revenue of $4.23 million for the quarter, compared to the consensus estimate of $4.38 million. The company’s revenue was up 75.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.12) earnings per share. On average, analysts expect that Portola Pharmaceuticals Inc. will post ($4.39) EPS for the current fiscal year.
A hedge fund recently raised its stake in Portola Pharmaceuticals stock. Morgan Stanley raised its position 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 about 0.45% of Portola Pharmaceuticals worth $12,089,000 as of its most recent filing with the SEC.
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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