Portola Pharmaceuticals (PTLA) Coverage Initiated at Goldman Sachs Group
Equities research analysts at Goldman Sachs Group assumed coverage on shares of Portola Pharmaceuticals (NASDAQ:PTLA) in a report issued on Friday. The firm set a “buy” rating and a $75.00 price target on the biopharmaceutical company’s stock. Goldman Sachs Group’s price objective would indicate a potential upside of 39.07% from the company’s previous close.
Several other research analysts also recently commented on the company. Morgan Stanley reissued an “overweight” rating and set a $81.00 target price (up previously from $75.00) on shares of Portola Pharmaceuticals in a research note on Friday, October 6th. Credit Suisse Group raised Portola Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $70.00 target price for the company in a research note on Wednesday, August 23rd. Oppenheimer set a $80.00 price objective on Portola Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, October 6th. BidaskClub raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research downgraded Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Portola Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $71.15.
Portola Pharmaceuticals (PTLA) opened at $53.93 on Friday. The company has a quick ratio of 8.31, a current ratio of 8.31 and a debt-to-equity ratio of 0.24. Portola Pharmaceuticals has a 52 week low of $17.15 and a 52 week high of $67.10.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.49) by $0.08. The firm had revenue of $3.83 million during the quarter, compared to the consensus estimate of $4.71 million. Portola Pharmaceuticals had a negative return on equity of 110.46% and a negative net margin of 938.19%. The business’s quarterly revenue was down 58.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.64) earnings per share. equities analysts predict that Portola Pharmaceuticals will post -4.95 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in PTLA. Kornitzer Capital Management Inc. KS boosted its holdings in Portola Pharmaceuticals by 38.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 727,812 shares of the biopharmaceutical company’s stock valued at $39,324,000 after acquiring an additional 202,925 shares during the last quarter. Sivik Global Healthcare LLC bought a new stake in Portola Pharmaceuticals in the second quarter valued at approximately $1,685,000. State Street Corp boosted its holdings in Portola Pharmaceuticals by 5.3% in the second quarter. State Street Corp now owns 2,085,838 shares of the biopharmaceutical company’s stock valued at $117,164,000 after acquiring an additional 105,207 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Portola Pharmaceuticals in the second quarter valued at approximately $1,047,000. Finally, Numeric Investors LLC bought a new stake in Portola Pharmaceuticals in the second quarter valued at approximately $753,000. 87.45% 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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