Portola Pharmaceuticals, Inc. (PTLA) Shares Sold by C WorldWide Group Holding A S
C WorldWide Group Holding A S lowered its position in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) by 22.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 96,590 shares of the biopharmaceutical company’s stock after selling 27,963 shares during the period. C WorldWide Group Holding A S’s holdings in Portola Pharmaceuticals were worth $5,425,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc boosted its position in Portola Pharmaceuticals by 7.7% in the second quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 170 shares in the last quarter. First Mercantile Trust Co. bought a new position in Portola Pharmaceuticals during the first quarter worth $165,000. Ameritas Investment Partners Inc. bought a new position in Portola Pharmaceuticals during the first quarter worth $167,000. Aperio Group LLC bought a new position in Portola Pharmaceuticals during the second quarter worth $250,000. Finally, Fortaleza Asset Management Inc. bought a new position in Portola Pharmaceuticals during the first quarter worth $193,000. Institutional investors own 86.26% of the company’s stock.
Shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) opened at 56.05 on Friday. The stock has a 50 day moving average of $60.24 and a 200-day moving average of $42.20. The firm’s market capitalization is $3.20 billion. Portola Pharmaceuticals, Inc. has a 12 month low of $15.68 and a 12 month high of $67.10.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by $0.12. The firm had revenue of $3.79 million for the quarter, compared to analyst estimates of $4.28 million. Portola Pharmaceuticals had a negative return on equity of 129.48% and a negative net margin of 807.93%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period last year, the firm earned ($1.02) EPS. On average, equities research analysts anticipate that Portola Pharmaceuticals, Inc. will post ($4.86) EPS for the current fiscal year.
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A number of research firms have weighed in on PTLA. Credit Suisse Group set a $70.00 price objective on shares of Portola Pharmaceuticals and gave the stock a “hold” rating in a research report on Thursday. They noted that the move was a valuation call. BidaskClub cut shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research cut shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday. Oppenheimer Holdings, Inc. increased their target price on shares of Portola Pharmaceuticals from $46.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 26th. Finally, Cowen and Company increased their target price on shares of Portola Pharmaceuticals from $45.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday, June 26th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $63.77.
In related news, CEO William Lis sold 269,299 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $55.43, for a total value of $14,927,243.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey W. Bird bought 119,442 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was purchased at an average cost of $31.85 per share, with a total value of $3,804,227.70. Following the purchase, the director now directly owns 3,000 shares in the company, valued at approximately $95,550. The disclosure for this purchase can be found here. Insiders sold a total of 2,289,656 shares of company stock valued at $91,298,131 in the last three months. 4.90% of the stock is currently owned by corporate insiders.
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 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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