Portola Pharmaceuticals, Inc. (PTLA) Trading Down 5.5%
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) fell 5.5% on Tuesday . The company traded as low as $57.74 and last traded at $59.49. 1,131,665 shares were traded during mid-day trading, an increase of 9% from the average session volume of 1,037,170 shares. The stock had previously closed at $62.93.
A number of research firms recently weighed in on PTLA. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $80.00 target price on shares of Portola Pharmaceuticals in a report on Wednesday. BidaskClub upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Credit Suisse Group upgraded shares of Portola Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Wednesday, August 23rd. Zacks Investment Research lowered shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Morgan Stanley increased their price objective on shares of Portola Pharmaceuticals from $50.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 26th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $63.77.
The stock has a 50 day moving average of $60.13 and a 200-day moving average of $46.28. The stock’s market cap is $3.37 billion.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.10) by $0.12. The firm had revenue of $3.79 million during the quarter, compared to the consensus estimate of $4.28 million. Portola Pharmaceuticals had a negative return on equity of 145.12% and a negative net margin of 807.93%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.02) earnings per share. On average, equities analysts anticipate that Portola Pharmaceuticals, Inc. will post ($4.83) earnings per share for the current fiscal year.
In related news, CEO William Lis sold 269,299 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $55.43, for a total transaction of $14,927,243.57. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Charles J. Homcy sold 120,803 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $53.06, for a total transaction of $6,409,807.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 589,656 shares of company stock valued at $32,818,131. 4.90% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Portola Pharmaceuticals by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,614,814 shares of the biopharmaceutical company’s stock valued at $180,855,000 after acquiring an additional 192,420 shares during the period. BlackRock Inc. increased its stake in Portola Pharmaceuticals by 0.9% in the 2nd quarter. BlackRock Inc. now owns 4,071,966 shares of the biopharmaceutical company’s stock worth $228,721,000 after buying an additional 37,241 shares during the period. FMR LLC increased its stake in Portola Pharmaceuticals by 5.6% in the 1st quarter. FMR LLC now owns 3,902,000 shares of the biopharmaceutical company’s stock worth $152,919,000 after buying an additional 205,751 shares during the period. State Street Corp increased its stake in 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 buying an additional 105,207 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in 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 buying an additional 101,046 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.
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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.
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