Shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) traded down 7.9% on Tuesday . The company traded as low as $49.45 and last traded at $52.09. 4,510,208 shares changed hands during mid-day trading, an increase of 283% from the average session volume of 1,177,180 shares. The stock had previously closed at $56.57.

A number of analysts recently weighed in on the stock. Oppenheimer Holdings, Inc. increased their price objective on shares of Portola Pharmaceuticals from $66.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. BidaskClub raised shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Zacks Investment Research raised shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Tuesday, July 18th. Credit Suisse Group set a $70.00 price objective on shares of Portola Pharmaceuticals and gave the stock a “hold” rating in a report on Thursday, August 10th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price objective on shares of Portola Pharmaceuticals from $50.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 26th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $63.77.

The company’s market capitalization is $3.00 billion. The stock’s 50-day moving average price is $57.74 and its 200 day moving average price is $47.63.

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 Zacks’ consensus estimate of ($1.10) by ($0.12). Portola Pharmaceuticals had a negative net margin of 807.93% and a negative return on equity of 145.12%. The business had revenue of $3.79 million during the quarter, compared to the consensus estimate of $4.28 million. During the same period in the prior year, the firm earned ($1.02) earnings per share. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. Equities research analysts forecast that Portola Pharmaceuticals, Inc. will post ($4.83) earnings per share for the current fiscal year.

In other news, EVP Tao Fu sold 5,812 shares of the business’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $65.00, for a total transaction of $377,780.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Lis sold 269,299 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $55.43, for a total value of $14,927,243.57. 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. Company insiders own 4.90% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Portola Pharmaceuticals by 14.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 258 shares during the period. Jacobi Capital Management LLC acquired a new position in shares of Portola Pharmaceuticals during the 2nd quarter worth about $125,000. IFP Advisors Inc grew its position in shares of Portola Pharmaceuticals by 7.7% during the 2nd quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 170 shares during the period. QS Investors LLC acquired a new position in shares of Portola Pharmaceuticals during the 2nd quarter worth about $147,000. Finally, SVA Plumb Wealth Management LLC acquired a new position in shares of Portola Pharmaceuticals during the 2nd quarter worth about $205,000. Institutional investors own 85.02% of the company’s stock.

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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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