Credit Suisse Group Analysts Give Portola Pharmaceuticals, Inc. (PTLA) a $70.00 Price Target
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) has been assigned a $70.00 price target by investment analysts at Credit Suisse Group in a research report issued on Thursday. The firm currently has a “hold” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s price objective points to a potential upside of 15.91% from the company’s previous close.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Tuesday, July 18th. Citigroup Inc. lifted their price objective on shares of Portola Pharmaceuticals from $51.00 to $78.00 and gave the company a “buy” rating in a report on Monday, June 26th. Oppenheimer Holdings, Inc. set a $46.00 price objective on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, May 9th. BidaskClub upgraded shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Finally, ValuEngine upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $63.77.
Portola Pharmaceuticals (NASDAQ PTLA) opened at 60.39 on Thursday. The stock’s market cap is $3.44 billion. Portola Pharmaceuticals has a 12 month low of $15.68 and a 12 month high of $67.10. The company’s 50 day moving average is $59.76 and its 200 day moving average is $42.10.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.15) by $0.07. Portola Pharmaceuticals had a negative net margin of 759.21% and a negative return on equity of 106.68%. The company had revenue of $3.79 million for the quarter, compared to the consensus estimate of $4.28 million. During the same quarter in the previous year, the business earned ($1.02) EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, analysts anticipate that Portola Pharmaceuticals will post ($4.34) EPS for the current fiscal year.
In other Portola Pharmaceuticals news, insider John T. Curnutte sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total transaction of $650,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Tao Fu sold 5,812 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total transaction of $377,780.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,289,656 shares of company stock worth $91,298,131 in the last three months. Insiders own 4.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Portola Pharmaceuticals during the fourth quarter worth approximately $10,046,000. Hartwell J M Limited Partnership purchased a new position in shares of Portola Pharmaceuticals during the first quarter worth about $402,000. First Mercantile Trust Co. purchased a new position in shares of Portola Pharmaceuticals during the first quarter worth about $165,000. C WorldWide Group Holding A S increased its position in shares of Portola Pharmaceuticals by 9.1% in the first quarter. C WorldWide Group Holding A S now owns 124,553 shares of the biopharmaceutical company’s stock worth $4,881,000 after buying an additional 10,373 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of Portola Pharmaceuticals during the first quarter worth about $651,000. 86.26% of the stock is currently owned by institutional investors and hedge funds.
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 having 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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