Zacks: Brokerages Anticipate Portola Pharmaceuticals, Inc. (PTLA) Will Announce Quarterly Sales of $2.42 Million
Equities analysts expect Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) to post sales of $2.42 million for the current quarter, according to Zacks. Two analysts have issued estimates for Portola Pharmaceuticals’ earnings. The lowest sales estimate is $2.40 million and the highest is $2.44 million. Portola Pharmaceuticals posted sales of $13.69 million during the same quarter last year, which suggests a negative year-over-year growth rate of 82.3%. The business is expected to announce its next earnings results on Tuesday, February 27th.
On average, analysts expect that Portola Pharmaceuticals will report full-year sales of $2.42 million for the current fiscal year, with estimates ranging from $15.14 million to $18.66 million. For the next year, analysts forecast that the firm will report sales of $199.41 million per share, with estimates ranging from $162.56 million to $232.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Portola Pharmaceuticals.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) EPS for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.08. The firm had revenue of $3.83 million during the quarter, compared to analysts’ expectations of $4.71 million. Portola Pharmaceuticals had a negative net margin of 938.19% and a negative return on equity of 110.46%. The business’s revenue for the quarter was down 58.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.64) earnings per share.
A number of research analysts have recently commented on PTLA shares. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $80.00 target price on shares of Portola Pharmaceuticals in a report on Wednesday, September 6th. Zacks Investment Research cut shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub cut shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Morgan Stanley reissued an “overweight” rating and issued a $81.00 target price (up previously from $75.00) on shares of Portola Pharmaceuticals in a report on Friday, October 6th. Finally, Credit Suisse Group AG raised shares of Portola Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $70.00 target price for the company in a report on Wednesday, August 23rd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $65.15.
Portola Pharmaceuticals (PTLA) traded down $0.31 during mid-day trading on Friday, hitting $48.64. 811,000 shares of the stock were exchanged, compared to its average volume of 994,438. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.31 and a quick ratio of 8.31. Portola Pharmaceuticals has a 52-week low of $17.15 and a 52-week high of $67.10.
Several institutional investors have recently added to or reduced their stakes in PTLA. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Portola Pharmaceuticals by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 258 shares during the period. Jacobi Capital Management LLC acquired a new position in shares of Portola Pharmaceuticals in the second quarter valued at approximately $125,000. IFP Advisors Inc increased its stake in shares of Portola Pharmaceuticals by 7.7% in 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 acquired a new position in shares of Portola Pharmaceuticals in the second quarter valued at approximately $147,000. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Portola Pharmaceuticals by 251.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 2,862 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 2,047 shares during the period. 86.04% 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.
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