BidaskClub Downgrades Portola Pharmaceuticals (PTLA) to Hold

Portola Pharmaceuticals (NASDAQ:PTLA) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Monday, BidAskClub reports.

Other equities research analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. Zacks Investment Research downgraded shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. Oppenheimer set a $30.00 price objective on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, December 31st. Finally, BNP Paribas lifted their price target on shares of Portola Pharmaceuticals from $30.00 to $42.00 and gave the company a “positive” rating in a research report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $42.14.

Shares of NASDAQ:PTLA opened at $33.70 on Monday. The company has a debt-to-equity ratio of 2.25, a current ratio of 5.12 and a quick ratio of 5.01. The stock has a market capitalization of $2.25 billion, a P/E ratio of -6.73 and a beta of 2.39. Portola Pharmaceuticals has a 52 week low of $14.81 and a 52 week high of $45.60.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings data on Friday, March 1st. The biopharmaceutical company reported ($1.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.11) by $0.07. The firm had revenue of $15.30 million during the quarter, compared to the consensus estimate of $10.53 million. Portola Pharmaceuticals had a negative net margin of 872.72% and a negative return on equity of 167.94%. The firm’s revenue was up 56.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.41) earnings per share. On average, sell-side analysts anticipate that Portola Pharmaceuticals will post -3.91 earnings per share for the current fiscal year.

In other news, CFO Mardi Dier sold 40,486 shares of Portola Pharmaceuticals stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $37.39, for a total transaction of $1,513,771.54. Following the completion of the sale, the chief financial officer now directly owns 66,733 shares in the company, valued at approximately $2,495,146.87. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Hollings Renton sold 5,000 shares of Portola Pharmaceuticals stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $34.45, for a total transaction of $172,250.00. Following the sale, the director now owns 14,000 shares of the company’s stock, valued at $482,300. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio increased its stake in shares of Portola Pharmaceuticals by 1.3% during the 1st quarter. Strs Ohio now owns 45,600 shares of the biopharmaceutical company’s stock worth $1,582,000 after purchasing an additional 600 shares in the last quarter. Hartwell J M Limited Partnership increased its stake in shares of Portola Pharmaceuticals by 40.6% during the 1st quarter. Hartwell J M Limited Partnership now owns 48,150 shares of the biopharmaceutical company’s stock worth $1,671,000 after purchasing an additional 13,900 shares in the last quarter. Evanson Asset Management LLC increased its stake in shares of Portola Pharmaceuticals by 51.1% during the 1st quarter. Evanson Asset Management LLC now owns 20,700 shares of the biopharmaceutical company’s stock worth $718,000 after purchasing an additional 7,000 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Portola Pharmaceuticals by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 730,249 shares of the biopharmaceutical company’s stock worth $14,254,000 after purchasing an additional 33,734 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Portola Pharmaceuticals during the 4th quarter worth approximately $11,465,000.

About Portola Pharmaceuticals

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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