Analysts Anticipate Portola Pharmaceuticals (PTLA) Will Post Quarterly Sales of $6.61 Million

Analysts predict that Portola Pharmaceuticals (NASDAQ:PTLA) will announce sales of $6.61 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Portola Pharmaceuticals’ earnings. The lowest sales estimate is $6.21 million and the highest is $7.00 million. Portola Pharmaceuticals posted sales of $5.13 million in the same quarter last year, which suggests a positive year over year growth rate of 28.8%. The company is scheduled to report its next earnings report on Monday, May 14th.

On average, analysts expect that Portola Pharmaceuticals will report full year sales of $110.29 million for the current financial year, with estimates ranging from $75.86 million to $151.69 million. For the next fiscal year, analysts forecast that the business will post sales of $290.09 million per share, with estimates ranging from $216.87 million to $424.97 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Portola Pharmaceuticals.

Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.41) EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 108.43% and a negative net margin of 1,268.34%. The company’s quarterly revenue was down 28.4% compared to the same quarter last year. During the same period last year, the company earned ($0.95) earnings per share.

A number of brokerages have recently commented on PTLA. Zacks Investment Research raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Credit Suisse Group reissued an “outperform” rating and set a $49.00 price target (down from $53.00) on shares of Portola Pharmaceuticals in a report on Tuesday, March 13th. ValuEngine raised Portola Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Monday, April 2nd. BidaskClub raised Portola Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, January 26th. Finally, Citigroup reissued a “buy” rating and set a $74.00 price target on shares of Portola Pharmaceuticals in a report on Thursday, December 28th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $67.14.

In related news, EVP Tao Fu sold 1,135 shares of Portola Pharmaceuticals stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $38.47, for a total transaction of $43,663.45. Following the transaction, the executive vice president now directly owns 18,346 shares of the company’s stock, valued at $705,770.62. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.50% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Penbrook Management LLC acquired a new position in Portola Pharmaceuticals during the fourth quarter worth about $209,000. Xact Kapitalforvaltning AB acquired a new position in shares of Portola Pharmaceuticals in the 4th quarter valued at $355,000. MetLife Investment Advisors LLC acquired a new position in shares of Portola Pharmaceuticals in the 4th quarter valued at $1,247,000. Endurant Capital Management LP boosted its position in shares of Portola Pharmaceuticals by 7.2% in the 4th quarter. Endurant Capital Management LP now owns 107,600 shares of the biopharmaceutical company’s stock valued at $5,238,000 after purchasing an additional 7,200 shares during the period. Finally, Kazazian Asset Management LLC boosted its position in shares of Portola Pharmaceuticals by 11.6% in the 4th quarter. Kazazian Asset Management LLC now owns 13,657 shares of the biopharmaceutical company’s stock valued at $665,000 after purchasing an additional 1,416 shares during the period. 88.44% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PTLA opened at $32.33 on Monday. The firm has a market cap of $2,123.29, a PE ratio of -6.72 and a beta of 1.49. 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 one year low of $30.10 and a one year high of $67.10.

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About Portola Pharmaceuticals

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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