Portola Pharmaceuticals (PTLA) Given a $42.00 Price Target by Oppenheimer Analysts

Oppenheimer set a $42.00 price target on Portola Pharmaceuticals (NASDAQ:PTLA) in a report published on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

PTLA has been the topic of a number of other research reports. BidaskClub raised shares of Portola Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, January 16th. Zacks Investment Research lowered shares of Portola Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, March 19th. ValuEngine lowered shares of Portola Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, March 7th. Finally, BNP Paribas upped their target price on shares of Portola Pharmaceuticals from $30.00 to $42.00 and gave the stock a positive rating in a report on Monday, March 4th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Portola Pharmaceuticals has a consensus rating of Buy and a consensus target price of $42.43.

NASDAQ PTLA opened at $34.60 on Friday. Portola Pharmaceuticals has a 12-month low of $14.81 and a 12-month high of $45.60. The company has a debt-to-equity ratio of 2.25, a quick ratio of 5.01 and a current ratio of 5.12. The company has a market capitalization of $2.34 billion, a PE ratio of -6.91 and a beta of 2.39.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings results on Friday, March 1st. The biopharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.11) by $0.07. The company had revenue of $15.30 million for the quarter, compared to analyst estimates of $10.53 million. Portola Pharmaceuticals had a negative net margin of 872.72% and a negative return on equity of 167.94%. The company’s quarterly revenue was up 56.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.41) earnings per share. Research analysts predict that Portola Pharmaceuticals will post -3.87 earnings per share for the current fiscal year.

In other Portola Pharmaceuticals news, CFO Mardi Dier sold 40,486 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $37.39, for a total value of $1,513,771.54. Following the completion of the transaction, the chief financial officer now owns 66,733 shares of the company’s stock, valued at approximately $2,495,146.87. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.60% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in PTLA. Parallel Advisors LLC grew its stake in Portola Pharmaceuticals by 165.2% in the 4th quarter. Parallel Advisors LLC now owns 4,641 shares of the biopharmaceutical company’s stock worth $90,000 after buying an additional 2,891 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Portola Pharmaceuticals in the 4th quarter valued at $205,000. Xact Kapitalforvaltning AB boosted its stake in shares of Portola Pharmaceuticals by 12.5% in the 4th quarter. Xact Kapitalforvaltning AB now owns 10,788 shares of the biopharmaceutical company’s stock valued at $211,000 after purchasing an additional 1,200 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Portola Pharmaceuticals in the 3rd quarter valued at $221,000. Finally, Evanson Asset Management LLC boosted its stake in shares of Portola Pharmaceuticals by 37.0% in the 4th quarter. Evanson Asset Management LLC now owns 13,700 shares of the biopharmaceutical company’s stock valued at $267,000 after purchasing an additional 3,700 shares in the last quarter.

Portola Pharmaceuticals Company Profile

Portola Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics that could advance the fields of thrombosis and other hematologic diseases. The company's two FDA-approved medicines are Andexxa (coagulation factor Xa (recombinant), inactivated-zhzo), an antidote for patients treated with rivaroxaban and apixaban when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding; and Bevyxxa (betrixaban), an oral, once-daily Factor Xa inhibitor for the prevention of VTE in adult patients hospitalized for an acute medical illness.

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Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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