Portola Pharmaceuticals Inc (NASDAQ:PTLA)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $23.38, but opened at $22.99. Portola Pharmaceuticals shares last traded at $23.76, with a volume of 37246 shares.

A number of equities analysts have recently issued reports on PTLA shares. Morgan Stanley reduced their price target on Portola Pharmaceuticals from $34.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 11th. Oppenheimer set a $60.00 price target on Portola Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, September 20th. Credit Suisse Group raised Portola Pharmaceuticals from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $28.00 to $34.00 in a research report on Monday, August 27th. BidaskClub downgraded Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 26th. Finally, ValuEngine downgraded Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, October 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $48.29.

The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -4.67 and a beta of 1.64. The company has a current ratio of 6.69, a quick ratio of 6.59 and a debt-to-equity ratio of 0.91.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported ($1.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.12). The company had revenue of $4.01 million for the quarter, compared to analysts’ expectations of $6.35 million. Portola Pharmaceuticals had a negative net margin of 1,503.29% and a negative return on equity of 111.64%. Portola Pharmaceuticals’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned ($1.22) earnings per share. As a group, analysts anticipate that Portola Pharmaceuticals Inc will post -5.77 EPS for the current fiscal year.

In related news, Director Jeffrey W. Bird acquired 390,000 shares of the company’s stock in a transaction dated Thursday, August 23rd. The shares were purchased at an average cost of $25.84 per share, with a total value of $10,077,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey W. Bird acquired 137,563 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were bought at an average cost of $25.17 per share, for a total transaction of $3,462,460.71. The disclosure for this purchase can be found here. 4.60% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of PTLA. SeaCrest Wealth Management LLC purchased a new stake in Portola Pharmaceuticals in the second quarter valued at $191,000. BB&T Securities LLC purchased a new stake in Portola Pharmaceuticals in the second quarter valued at $201,000. Oppenheimer Asset Management Inc. purchased a new stake in Portola Pharmaceuticals in the second quarter valued at $230,000. Quantitative Systematic Strategies LLC purchased a new stake in Portola Pharmaceuticals in the second quarter valued at $234,000. Finally, Xact Kapitalforvaltning AB boosted its holdings in Portola Pharmaceuticals by 34.3% in the first quarter. Xact Kapitalforvaltning AB now owns 9,788 shares of the biopharmaceutical company’s stock valued at $320,000 after purchasing an additional 2,500 shares during the last quarter. 94.25% of the stock is currently owned by institutional investors.

Portola Pharmaceuticals Company Profile (NASDAQ:PTLA)

Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics in the areas of thrombosis, other hematologic disorders, and inflammation. The company is developing Betrixaban, an oral once-daily Factor Xa inhibitor for hospital and extended duration prophylaxis of venous thromboembolism in adults hospitalized for an acute medical illness; Andexanet alfa, a recombinant protein that is in Phase III study for reverse anticoagulant activity in patients treated with fXa inhibitor; and Cerdulatinib, a spleen tyrosine kinase inhibitor, which is in Phase IIa clinical stage to treat hematologic cancers.

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