Portola Pharmaceuticals Inc. (PTLA) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Portola Pharmaceuticals Inc. (NASDAQ:PTLA) have earned an average rating of “Buy” from the eight analysts that are currently covering the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $32.30.
Several research firms have issued reports on PTLA. Credit Suisse Group AG reiterated a “hold” rating and set a $30.00 price objective on shares of Portola Pharmaceuticals in a research note on Thursday, August 18th. Citigroup Inc. downgraded shares of Portola Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $40.00 to $24.00 in a research note on Friday, August 19th. Cowen and Company reiterated a “buy” rating on shares of Portola Pharmaceuticals in a research note on Thursday, August 18th. Morgan Stanley decreased their target price on shares of Portola Pharmaceuticals from $61.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, August 19th. Finally, Zacks Investment Research downgraded shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, November 5th.
Hedge funds have recently bought and sold shares of the stock. Teachers Advisors Inc. boosted its stake in Portola Pharmaceuticals by 4.4% in the first quarter. Teachers Advisors Inc. now owns 74,541 shares of the biopharmaceutical company’s stock valued at $1,521,000 after buying an additional 3,136 shares in the last quarter. BlackRock Group LTD boosted its stake in Portola Pharmaceuticals by 97.6% in the first quarter. BlackRock Group LTD now owns 53,635 shares of the biopharmaceutical company’s stock valued at $1,095,000 after buying an additional 26,488 shares in the last quarter. State Street Corp boosted its stake in Portola Pharmaceuticals by 27.3% in the first quarter. State Street Corp now owns 1,720,000 shares of the biopharmaceutical company’s stock valued at $35,085,000 after buying an additional 368,946 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in Portola Pharmaceuticals during the first quarter valued at about $730,000. Finally, Creative Planning boosted its stake in Portola Pharmaceuticals by 29.2% in the second quarter. Creative Planning now owns 21,050 shares of the biopharmaceutical company’s stock valued at $497,000 after buying an additional 4,755 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.
Portola Pharmaceuticals (NASDAQ:PTLA) opened at 18.77 on Friday. Portola Pharmaceuticals has a 12 month low of $15.68 and a 12 month high of $52.89. The stock’s market capitalization is $1.06 billion. The firm’s 50-day moving average is $19.13 and its 200 day moving average is $22.85.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($1.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by $0.54. Portola Pharmaceuticals had a negative return on equity of 82.19% and a negative net margin of 1,072.67%. The business had revenue of $9.30 million for the quarter, compared to analysts’ expectations of $4.10 million. During the same quarter in the prior year, the firm earned ($1.05) earnings per share. Portola Pharmaceuticals’s quarterly revenue was up 220.7% compared to the same quarter last year. On average, equities analysts anticipate that Portola Pharmaceuticals will post ($4.77) earnings per share for the current year.
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.
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