Portola Pharmaceuticals (PTLA) Downgraded by ValuEngine to “Strong Sell”
ValuEngine downgraded shares of Portola Pharmaceuticals (NASDAQ:PTLA) from a sell rating to a strong sell rating in a report released on Thursday.
PTLA has been the topic of a number of other reports. Oppenheimer set a $80.00 price objective on Portola Pharmaceuticals and gave the company a buy rating in a research note on Monday, January 15th. BidaskClub raised Portola Pharmaceuticals from a strong sell rating to a sell rating in a research note on Thursday, December 21st. Goldman Sachs Group started coverage on Portola Pharmaceuticals in a research note on Friday, December 1st. They issued a buy rating and a $75.00 price objective on the stock. Morgan Stanley cut their price objective on Portola Pharmaceuticals from $74.00 to $65.00 and set an overweight rating on the stock in a research note on Thursday, February 22nd. Finally, William Blair reissued a buy rating on shares of Portola Pharmaceuticals in a research note on Thursday. Three analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. Portola Pharmaceuticals currently has a consensus rating of Hold and an average price target of $64.90.
Shares of Portola Pharmaceuticals (NASDAQ PTLA) traded down $0.54 during mid-day trading on Thursday, hitting $33.71. The company had a trading volume of 307,447 shares, compared to its average volume of 1,156,696. The company has a current ratio of 5.94, a quick ratio of 5.92 and a debt-to-equity ratio of 0.30. Portola Pharmaceuticals has a 1-year low of $30.10 and a 1-year high of $67.10.
In other Portola Pharmaceuticals news, Director Henry Ward Wolff sold 12,000 shares of Portola Pharmaceuticals stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $47.00, for a total value of $564,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 5.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of PTLA. Oppenheimer Asset Management Inc. increased its position in Portola Pharmaceuticals by 251.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,862 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 2,047 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Portola Pharmaceuticals by 54.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,219 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 1,141 shares during the period. Canada Pension Plan Investment Board bought a new position in Portola Pharmaceuticals in the 3rd quarter worth approximately $178,000. Penbrook Management LLC bought a new position in Portola Pharmaceuticals in the 4th quarter worth approximately $209,000. Finally, Sei Investments Co. bought a new position in Portola Pharmaceuticals in the 3rd quarter worth approximately $217,000. 87.52% of the stock is currently owned by institutional investors.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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