Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) has been given a $80.00 target price by equities research analysts at Oppenheimer Holdings, Inc. in a research note issued on Friday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Oppenheimer Holdings, Inc.’s target price points to a potential upside of 44.04% from the stock’s current price.
Other equities research analysts also recently issued research reports about the company. Citigroup Inc. set a $51.00 target price on Portola Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, June 17th. Credit Suisse Group set a $70.00 target price on Portola Pharmaceuticals and gave the company a “hold” rating in a research report on Thursday, August 10th. They noted that the move was a valuation call. BidaskClub downgraded Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Morgan Stanley restated an “overweight” rating and issued a $81.00 target price (up previously from $75.00) on shares of Portola Pharmaceuticals in a research report on Friday. Finally, William Blair restated an “outperform” rating on shares of Portola Pharmaceuticals in a research report on Monday, June 26th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $65.15.
Portola Pharmaceuticals (NASDAQ PTLA) opened at 55.54 on Friday. Portola Pharmaceuticals has a 12 month low of $15.68 and a 12 month high of $67.10. The company’s market cap is $3.20 billion. The firm has a 50-day moving average price of $56.06 and a 200 day moving average price of $48.88.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.10) by ($0.12). Portola Pharmaceuticals had a negative net margin of 807.93% and a negative return on equity of 145.12%. The business had revenue of $3.79 million during the quarter, compared to analysts’ expectations of $4.28 million. During the same quarter in the prior year, the firm earned ($1.02) EPS. Portola Pharmaceuticals’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities research analysts predict that Portola Pharmaceuticals will post ($4.83) EPS for the current year.
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In other news, VP Mardi Dier sold 23,350 shares of Portola Pharmaceuticals stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $60.00, for a total value of $1,401,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tao Fu sold 5,812 shares of Portola Pharmaceuticals stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total value of $377,780.00. The disclosure for this sale can be found here. Insiders sold 39,162 shares of company stock valued at $2,428,780 over the last ninety days. Insiders own 4.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Portola Pharmaceuticals in the first quarter valued at $968,000. Sivik Global Healthcare LLC acquired a new stake in shares of Portola Pharmaceuticals in the second quarter valued at $1,685,000. UBS Asset Management Americas Inc. grew its stake in shares of Portola Pharmaceuticals by 32.0% in the first quarter. UBS Asset Management Americas Inc. now owns 399,684 shares of the biopharmaceutical company’s stock valued at $15,664,000 after buying an additional 96,962 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Portola Pharmaceuticals in the second quarter valued at $1,047,000. Finally, TIAA CREF Investment Management LLC grew its stake in shares of Portola Pharmaceuticals by 4.0% in the first quarter. TIAA CREF Investment Management LLC now owns 223,924 shares of the biopharmaceutical company’s stock valued at $8,776,000 after buying an additional 8,673 shares in the last quarter. 85.02% of the stock is owned by institutional investors and hedge funds.
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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