Portola Pharmaceuticals, Inc. (PTLA) Stock Price Down 5.5%
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) dropped 5.5% on Tuesday . The stock traded as low as $57.74 and last traded at $59.49. Approximately 1,131,665 shares changed hands during trading, an increase of 9% from the average daily volume of 1,037,170 shares. The stock had previously closed at $62.93.
PTLA has been the subject of several recent research reports. ValuEngine upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Credit Suisse Group reiterated a “neutral” rating and set a $58.00 target price (up previously from $39.00) on shares of Portola Pharmaceuticals in a research note 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 stock an “outperform” rating in a research note on Monday, June 26th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $63.77.
The stock’s market capitalization is $3.43 billion. The stock has a 50-day moving average of $60.42 and a 200-day moving average of $45.99.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 807.93% and a negative return on equity of 145.12%. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.02) earnings per share. Equities analysts predict that Portola Pharmaceuticals, Inc. will post ($4.83) EPS for the current fiscal year.
In other news, EVP Tao Fu sold 5,812 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total value of $377,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John T. Curnutte sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $65.00, for a total transaction of $650,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 589,656 shares of company stock valued at $32,818,131 over the last three months. 4.90% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Portola Pharmaceuticals in the 2nd quarter worth approximately $248,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Portola Pharmaceuticals in the 2nd quarter worth approximately $1,983,000. State Street Corp lifted its stake in shares of Portola Pharmaceuticals by 5.3% in the 2nd quarter. State Street Corp now owns 2,085,838 shares of the biopharmaceutical company’s stock worth $117,164,000 after acquiring an additional 105,207 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Portola Pharmaceuticals by 17.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 688,092 shares of the biopharmaceutical company’s stock worth $38,650,000 after acquiring an additional 101,046 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Portola Pharmaceuticals in the 2nd quarter worth approximately $922,000. 85.27% of the stock is owned by institutional investors.
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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.