Portola Pharmaceuticals, Inc. (PTLA) to Post FY2020 Earnings of $5.63 Per Share, William Blair Forecasts
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) – William Blair cut their FY2020 EPS estimates for shares of Portola Pharmaceuticals in a report released on Tuesday. William Blair analyst M. Phipps now anticipates that the biopharmaceutical company will post earnings per share of $5.63 for the year, down from their previous forecast of $5.65. William Blair has a “Outperform” rating on the stock.
Portola Pharmaceuticals (NASDAQ:PTLA) last released 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). 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 during the quarter, compared to analysts’ expectations of $4.28 million. During the same quarter in the previous year, the company earned ($1.02) EPS. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year.
PTLA has been the subject of several other research reports. Oppenheimer Holdings, Inc. increased their target price 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 research 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 research report on Tuesday, July 18th. Credit Suisse Group set a $70.00 price objective on shares of Portola Pharmaceuticals and gave the company a “hold” rating in a research 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 company an “overweight” rating in a research report 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. Portola Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $63.77.
Portola Pharmaceuticals (NASDAQ PTLA) traded up 1.84% during midday trading on Thursday, reaching $53.75. 495,743 shares of the company’s stock were exchanged. Portola Pharmaceuticals has a 1-year low of $15.68 and a 1-year high of $67.10. The stock’s market cap is $3.10 billion. The firm’s 50-day moving average is $57.74 and its 200 day moving average is $47.63.
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 SEC, which can be accessed through the SEC website. Also, EVP Tao Fu sold 7,000 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $57.14, for a total transaction of $399,980.00. The disclosure for this sale can be found here. In the last three months, insiders sold 468,853 shares of company stock valued at $26,408,324. 4.90% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of PTLA. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Portola Pharmaceuticals by 14.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock valued at $117,000 after acquiring an additional 258 shares during the period. Jacobi Capital Management LLC bought a new stake in shares of Portola Pharmaceuticals during the second quarter valued at about $125,000. IFP Advisors Inc increased its position in shares of Portola Pharmaceuticals by 7.7% during the second quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 170 shares during the period. QS Investors LLC bought a new stake in shares of Portola Pharmaceuticals during the second quarter valued at about $147,000. Finally, SVA Plumb Wealth Management LLC bought a new stake in shares of Portola Pharmaceuticals during the second quarter valued at about $205,000. 85.02% of the stock is currently owned by institutional investors.
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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