$2.42 Million in Sales Expected for Portola Pharmaceuticals Inc (PTLA) This Quarter
Equities analysts expect that Portola Pharmaceuticals Inc (NASDAQ:PTLA) will post $2.42 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Portola Pharmaceuticals’ earnings, with estimates ranging from $2.40 million to $2.44 million. Portola Pharmaceuticals reported sales of $13.69 million in the same quarter last year, which indicates a negative year-over-year growth rate of 82.3%. The company is expected to issue its next earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that Portola Pharmaceuticals will report full year sales of $2.42 million for the current 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 $157.06 million per share, with estimates ranging from $133.11 million to $203.47 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Portola Pharmaceuticals.
PTLA has been the subject of several research analyst reports. Goldman Sachs Group initiated coverage on Portola Pharmaceuticals in a research report on Friday, December 1st. They issued a “buy” rating and a $75.00 price objective for the company. Oppenheimer reiterated a “buy” rating and issued a $80.00 price objective on shares of Portola Pharmaceuticals in a research report on Tuesday, November 7th. William Blair reiterated a “buy” rating on shares of Portola Pharmaceuticals in a research report on Monday, January 1st. Citigroup reiterated a “buy” rating and issued a $74.00 price objective on shares of Portola Pharmaceuticals in a research report on Thursday, December 28th. Finally, Zacks Investment Research upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. Portola Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $70.65.
In other news, Director Henry Ward Wolff sold 12,000 shares of Portola Pharmaceuticals stock in a transaction on Friday, December 15th. The stock was sold at an average price of $47.00, for a total value of $564,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTLA. Wells Fargo & Company MN increased its stake in shares of Portola Pharmaceuticals by 1,367.8% in the 4th quarter. Wells Fargo & Company MN now owns 686,816 shares of the biopharmaceutical company’s stock valued at $33,434,000 after buying an additional 640,023 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Portola Pharmaceuticals in the 2nd quarter valued at $21,187,000. BlackRock Inc. increased its stake in shares of Portola Pharmaceuticals by 6.7% in the 4th quarter. BlackRock Inc. now owns 4,696,591 shares of the biopharmaceutical company’s stock valued at $228,629,000 after buying an additional 293,802 shares during the period. Kornitzer Capital Management Inc. KS increased its stake in shares of Portola Pharmaceuticals by 38.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 727,812 shares of the biopharmaceutical company’s stock valued at $39,324,000 after buying an additional 202,925 shares during the period. Finally, Artal Group S.A. acquired a new stake in shares of Portola Pharmaceuticals in the 4th quarter valued at $7,302,000. 87.29% 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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