Portola Pharmaceuticals Inc. (PTLA) Trading Down 0.9%
Portola Pharmaceuticals Inc. (NASDAQ:PTLA) shares fell 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 changing hands. The stock had previously closed at $27.61.
A number of brokerages have recently commented on PTLA. Citigroup Inc. increased their price objective on Portola Pharmaceuticals from $29.00 to $36.00 and gave the company a “buy” rating in a report on Friday, May 27th. Zacks Investment Research lowered Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, Credit Suisse Group AG lowered Portola Pharmaceuticals from an “outperform” rating to a “neutral” rating and lowered their price objective for the company 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 stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $41.64.
The stock’s market capitalization is $1.48 billion. The company has a 50 day moving average price of $24.99 and a 200 day moving average price of $25.98.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.02) EPS for the quarter, beating 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. During the same quarter last year, the firm earned ($1.12) earnings per share. The business’s revenue for the quarter was up 75.0% on a year-over-year basis. Analysts expect that Portola Pharmaceuticals Inc. will post ($5.07) earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of PTLA. Trexquant Investment LP purchased a new stake in shares of Portola Pharmaceuticals during the fourth quarter worth approximately $3,154,000. Morgan Stanley raised its stake 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. Jennison Associates LLC raised its stake in shares of Portola Pharmaceuticals by 31.1% in the fourth quarter. Jennison Associates LLC now owns 858,523 shares of the biopharmaceutical company’s stock worth $44,171,000 after buying an additional 203,505 shares during the period. Wells Fargo & Company MN raised its stake in shares of Portola Pharmaceuticals by 3.7% in the fourth quarter. Wells Fargo & Company MN now owns 293,921 shares of the biopharmaceutical company’s stock worth $15,121,000 after buying an additional 10,544 shares during the period. Finally, New York State Common Retirement Fund raised its stake 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.
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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