Insider Selling: Portola Pharmaceuticals Inc (PTLA) Director Sells $2,003,000.00 in Stock
Portola Pharmaceuticals Inc (NASDAQ:PTLA) Director Charles J. Homcy sold 50,000 shares of Portola Pharmaceuticals stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $40.06, for a total value of $2,003,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Portola Pharmaceuticals Inc (NASDAQ:PTLA) opened at 40.42 on Tuesday. The firm’s market capitalization is $2.29 billion. The company has a 50 day moving average price of $33.16 and a 200-day moving average price of $24.14. Portola Pharmaceuticals Inc has a one year low of $15.68 and a one year high of $41.27.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.12) by $0.17. The business had revenue of $13.70 million for the quarter, compared to the consensus estimate of $3.98 million. Portola Pharmaceuticals had a negative return on equity of 82.19% and a negative net margin of 1,072.67%. Portola Pharmaceuticals’s revenue was up 211.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.23) EPS. On average, equities analysts predict that Portola Pharmaceuticals Inc will post ($3.56) EPS for the current year.
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PTLA has been the topic of a number of recent research reports. Vetr cut Portola Pharmaceuticals from a “buy” rating to a “sell” rating and set a $36.36 target price on the stock. in a report on Wednesday, March 1st. Citigroup Inc upgraded Portola Pharmaceuticals from a “neutral” rating to a “buy” rating in a report on Tuesday, December 27th. Morgan Stanley restated an “overweight” rating and issued a $29.00 target price on shares of Portola Pharmaceuticals in a report on Wednesday, December 28th. Cowen and Company set a $40.00 target price on Portola Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, February 8th. Finally, Zacks Investment Research upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Wednesday, January 11th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $37.65.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Portola Pharmaceuticals during the fourth quarter valued at approximately $10,046,000. Putnam Investments LLC increased its position in shares of Portola Pharmaceuticals by 3.0% in the fourth quarter. Putnam Investments LLC now owns 10,531 shares of the biopharmaceutical company’s stock valued at $236,000 after buying an additional 310 shares during the last quarter. Ellington Management Group LLC acquired a new position in shares of Portola Pharmaceuticals during the fourth quarter valued at approximately $357,000. Orbimed Advisors LLC increased its position in shares of Portola Pharmaceuticals by 48.7% in the fourth quarter. Orbimed Advisors LLC now owns 551,500 shares of the biopharmaceutical company’s stock valued at $12,376,000 after buying an additional 180,600 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new position in shares of Portola Pharmaceuticals during the fourth quarter valued at approximately $550,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.
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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