FY2020 EPS Estimates for Portola Pharmaceuticals Inc Reduced by Oppenheimer (PTLA)
Portola Pharmaceuticals Inc (NASDAQ:PTLA) – Equities research analysts at Oppenheimer dropped their FY2020 earnings estimates for Portola Pharmaceuticals in a research report issued on Thursday. Oppenheimer analyst J. Olson now forecasts that the biopharmaceutical company will post earnings of $2.66 per share for the year, down from their prior estimate of $2.82. Oppenheimer currently has a “Buy” rating and a $67.00 price target on the stock. Oppenheimer also issued estimates for Portola Pharmaceuticals’ FY2021 earnings at $4.26 EPS and FY2022 earnings at $6.00 EPS.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. William Blair reissued a “buy” rating on shares of Portola Pharmaceuticals in a report on Monday, January 1st. Citigroup reissued a “buy” rating and set a $74.00 price objective on shares of Portola Pharmaceuticals in a report on Thursday, December 28th. BidaskClub raised shares of Portola Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, January 26th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $53.00 price objective (down from $68.00) on shares of Portola Pharmaceuticals in a report on Wednesday, February 21st. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Portola Pharmaceuticals has a consensus rating of “Hold” and an average target price of $64.90.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($1.41) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.46) by $0.05. The company had revenue of $9.80 million for the quarter, compared to analyst estimates of $3.71 million. Portola Pharmaceuticals had a negative net margin of 1,268.34% and a negative return on equity of 121.61%. Portola Pharmaceuticals’s revenue was down 28.4% compared to the same quarter last year. During the same period last year, the company posted ($0.95) earnings per share.
In other Portola Pharmaceuticals news, Director Henry Ward Wolff sold 12,000 shares of Portola Pharmaceuticals stock in a transaction on Friday, December 15th. The shares were sold at an average price of $47.00, for a total value of $564,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 5.50% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTLA. Oppenheimer Asset Management Inc. grew its holdings in Portola Pharmaceuticals by 251.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 2,862 shares of the biopharmaceutical company’s stock worth $155,000 after purchasing an additional 2,047 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Portola Pharmaceuticals by 54.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,219 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 1,141 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Portola Pharmaceuticals in the third quarter worth $178,000. Penbrook Management LLC purchased a new position in Portola Pharmaceuticals in the fourth quarter worth $209,000. Finally, Sei Investments Co. purchased a new position in Portola Pharmaceuticals in the third quarter worth $217,000. 86.45% of the stock is currently owned by institutional investors and hedge funds.
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About Portola Pharmaceuticals
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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