Portola Pharmaceuticals Inc. (NASDAQ:PTLA)’s share price shot up 2.5% during trading on Tuesday . The company traded as high as $23.84 and last traded at $23.65, with a volume of 276,248 shares traded. The stock had previously closed at $23.08.

A number of brokerages have commented on PTLA. Citigroup Inc. upped their price objective on shares of Portola Pharmaceuticals from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, May 27th. Credit Suisse Group AG restated a “hold” rating and set a $30.00 price objective on shares of Portola Pharmaceuticals in a research report on Thursday, August 18th. Zacks Investment Research downgraded shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Cowen and Company reiterated a “buy” rating on shares of Portola Pharmaceuticals in a report on Thursday, August 18th. Finally, Morgan Stanley cut their price target on shares of Portola Pharmaceuticals from $61.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, August 19th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $32.64.

The firm’s market cap is $1.33 billion. The company’s 50 day moving average price is $23.24 and its 200 day moving average price is $24.48.

Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($1.02) EPS for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.18. The firm earned $4.23 million during the quarter, compared to the consensus estimate of $4.38 million. Portola Pharmaceuticals had a negative net margin of 1,229.26% and a negative return on equity of 67.16%. The firm’s revenue was up 75.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.12) earnings per share. Equities analysts anticipate that Portola Pharmaceuticals Inc. will post ($4.38) earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Deerfield Management Co. increased its position in Portola Pharmaceuticals by 351.9% in the first quarter. Deerfield Management Co. now owns 3,089,785 shares of the biopharmaceutical company’s stock worth $63,032,000 after buying an additional 2,406,036 shares in the last quarter. Wellington Management Group LLP increased its position in Portola Pharmaceuticals by 25.9% in the first quarter. Wellington Management Group LLP now owns 6,615,240 shares of the biopharmaceutical company’s stock worth $134,951,000 after buying an additional 1,359,683 shares in the last quarter. Pictet Asset Management Ltd. increased its position in Portola Pharmaceuticals by 793.6% in the second quarter. Pictet Asset Management Ltd. now owns 683,641 shares of the biopharmaceutical company’s stock worth $18,787,000 after buying an additional 607,141 shares in the last quarter. Redmile Group LLC increased its position in Portola Pharmaceuticals by 64.9% in the second quarter. Redmile Group LLC now owns 1,466,537 shares of the biopharmaceutical company’s stock worth $34,610,000 after buying an additional 576,930 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Portola Pharmaceuticals by 68.3% in the first quarter. JPMorgan Chase & Co. now owns 1,298,116 shares of the biopharmaceutical company’s stock worth $26,481,000 after buying an additional 526,817 shares in the last quarter. 92.04% of the stock is owned by hedge funds and other institutional investors.

About Portola Pharmaceuticals

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.

5 Day Chart for NASDAQ:PTLA

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