Portola Pharmaceuticals Inc. (PTLA) Shares Down 0.9%
Portola Pharmaceuticals Inc. (NASDAQ:PTLA)’s share price dropped 0.9% during trading on Monday . The company traded as low as $27.26 and last traded at $27.36, with a volume of 690,523 shares traded. The stock had previously closed at $27.61.
PTLA has been the subject of a number of research reports. Citigroup Inc. lifted their price objective on shares of Portola Pharmaceuticals from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Zacks Investment Research raised shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Finally, Credit Suisse Group AG downgraded shares of Portola Pharmaceuticals from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $33.00 to $30.00 in a report on Tuesday, May 31st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $41.64.
The stock’s 50-day moving average is $24.87 and its 200 day moving average is $26.03. The stock’s market capitalization is $1.56 billion.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.18. The company had revenue of $4.23 million for the quarter, compared to the consensus estimate of $4.38 million. During the same period in the previous year, the company earned ($1.12) EPS. The firm’s revenue for the quarter was up 75.0% compared to the same quarter last year. On average, analysts expect that Portola Pharmaceuticals Inc. will post ($5.17) EPS for the current year.
Several hedge funds and institutional investors have modified their holdings of the company. Rhumbline Advisers raised its position in shares of Portola Pharmaceuticals by 16.7% in the fourth quarter. Rhumbline Advisers now owns 49,370 shares of the biopharmaceutical company’s stock worth $2,540,000 after buying an additional 7,075 shares during the period. California Public Employees Retirement System raised its position in shares of Portola Pharmaceuticals by 17.2% in the fourth quarter. California Public Employees Retirement System now owns 56,000 shares of the biopharmaceutical company’s stock worth $2,881,000 after buying an additional 8,200 shares during the period. Trexquant Investment LP acquired a new position in shares of Portola Pharmaceuticals during the fourth quarter worth approximately $3,154,000. New York State Common Retirement Fund raised its position in shares of Portola Pharmaceuticals by 3.6% in the fourth quarter. New York State Common Retirement Fund now owns 68,123 shares of the biopharmaceutical company’s stock worth $3,505,000 after buying an additional 2,376 shares during the period. Finally, Morgan Stanley raised its position in shares of Portola Pharmaceuticals by 7.2% in the fourth quarter. Morgan Stanley now owns 234,948 shares of the biopharmaceutical company’s stock worth $12,089,000 after buying an additional 15,853 shares during the period.
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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