Portola Pharmaceuticals Inc. (PTLA) Stock Price Down 2.2%
Portola Pharmaceuticals Inc. (NASDAQ:PTLA) dropped 2.2% on Monday . The company traded as low as $22.68 and last traded at $23.07, with a volume of 790,845 shares trading hands. The stock had previously closed at $23.60.
Several equities research analysts have commented on the stock. Credit Suisse Group AG dropped their price target on shares of Portola Pharmaceuticals from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 19th. Zacks Investment Research cut shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Citigroup Inc. cut Portola Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $40.00 to $24.00 in a research note on Friday, August 19th. Cowen and Company reaffirmed a “buy” rating on shares of Portola Pharmaceuticals in a research note on Thursday, August 18th. Finally, Morgan Stanley lowered 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $32.64.
The firm has a 50 day moving average of $23.15 and a 200-day moving average of $24.43. The company’s market capitalization is $1.31 billion.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($1.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.20) by $0.18. The business earned $4.23 million during the quarter, compared to the consensus estimate of $4.38 million. Portola Pharmaceuticals had a negative return on equity of 67.16% and a negative net margin of 1,229.26%. Portola Pharmaceuticals’s quarterly revenue was up 75.0% on a year-over-year basis. During the same period last year, the company earned ($1.12) earnings per share. Equities research analysts predict that Portola Pharmaceuticals Inc. will post ($4.38) earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc increased its position in Portola Pharmaceuticals by 2.0% in the second quarter. IFP Advisors Inc now owns 4,318 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 83 shares in the last quarter. BlackRock Inc. increased its position in Portola Pharmaceuticals by 59.5% in the second quarter. BlackRock Inc. now owns 5,257 shares of the biopharmaceutical company’s stock worth $124,000 after buying an additional 1,962 shares in the last quarter. Teacher Retirement System of Texas increased its position in Portola Pharmaceuticals by 16.9% in the second quarter. Teacher Retirement System of Texas now owns 7,889 shares of the biopharmaceutical company’s stock worth $186,000 after buying an additional 1,140 shares in the last quarter. Principal Financial Group Inc. bought a new position in Portola Pharmaceuticals during the second quarter worth $204,000. Finally, Affinity Investment Advisors LLC bought a new position in Portola Pharmaceuticals during the second quarter worth $226,000. Hedge funds and other institutional investors own 92.04% of the company’s stock.
Portola Pharmaceuticals Company Profile
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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