Equities Analysts Set Expectations for Portola Pharmaceuticals, Inc.’s Q3 2017 Earnings (PTLA)
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) – Investment analysts at William Blair dropped their Q3 2017 earnings per share (EPS) estimates for Portola Pharmaceuticals in a research report issued to clients and investors on Tuesday. William Blair analyst M. Phipps now anticipates that the biopharmaceutical company will post earnings per share of ($1.45) for the quarter, down from their prior estimate of ($1.41). William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Portola Pharmaceuticals’ Q4 2017 earnings at ($1.45) EPS, FY2018 earnings at ($2.62) EPS, FY2019 earnings at $1.07 EPS and FY2021 earnings at $8.14 EPS.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.12). Portola Pharmaceuticals had a negative return on equity of 145.12% and a negative net margin of 807.93%. The company had revenue of $3.79 million for the quarter, compared to analyst estimates of $4.28 million. During the same quarter in the previous year, the business earned ($1.02) earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. WARNING: “Equities Analysts Set Expectations for Portola Pharmaceuticals, Inc.’s Q3 2017 Earnings (PTLA)” was originally posted by Daily Political and is the sole property of of Daily Political. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://www.dailypolitical.com/2017/09/22/equities-analysts-set-expectations-for-portola-pharmaceuticals-inc-s-q3-2017-earnings-ptla.html.
Several other research analysts have also issued reports on the stock. Credit Suisse Group raised shares of Portola Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $70.00 target price on the stock in a research note on Wednesday, August 23rd. Citigroup Inc. increased their target price on shares of Portola Pharmaceuticals from $51.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, June 26th. Morgan Stanley increased their target price on shares of Portola Pharmaceuticals from $50.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, June 26th. Zacks Investment Research raised shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Tuesday, July 18th. Finally, Oppenheimer Holdings, Inc. raised their price objective on shares of Portola Pharmaceuticals from $66.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, July 24th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $63.77.
Shares of Portola Pharmaceuticals (PTLA) opened at 54.12 on Friday. The firm’s market capitalization is $3.12 billion. Portola Pharmaceuticals has a one year low of $15.68 and a one year high of $67.10. The company’s 50 day moving average is $57.74 and its 200-day moving average is $47.63.
In other news, CEO William Lis sold 269,299 shares of the 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 link. Also, VP Mardi Dier sold 93,392 shares of the stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $55.46, for a total transaction of $5,179,520.32. The disclosure for this sale can be found here. Insiders sold 468,853 shares of company stock worth $26,408,324 over the last ninety days. Insiders own 4.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in PTLA. BlackRock Inc. raised its holdings in shares of Portola Pharmaceuticals by 68,964.1% in the first quarter. BlackRock Inc. now owns 4,034,725 shares of the biopharmaceutical company’s stock valued at $158,121,000 after purchasing an additional 4,028,883 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Portola Pharmaceuticals in the second quarter valued at about $29,483,000. Renaissance Technologies LLC purchased a new stake in shares of Portola Pharmaceuticals in the second quarter valued at about $21,187,000. Bogle Investment Management L P DE purchased a new stake in shares of Portola Pharmaceuticals in the first quarter valued at about $12,945,000. Finally, FMR LLC raised its holdings in shares of Portola Pharmaceuticals by 5.6% in the first quarter. FMR LLC now owns 3,902,000 shares of the biopharmaceutical company’s stock valued at $152,919,000 after purchasing an additional 205,751 shares during the last quarter. Institutional investors own 85.02% of the company’s stock.
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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