Zacks Investment Research upgraded shares of Portola Pharmaceuticals (NASDAQ:PTLA) from a hold rating to a buy rating in a research note released on Thursday, Zacks.com reports. The brokerage currently has $39.00 target price on the biopharmaceutical company’s stock.
According to Zacks, “Portola Pharmaceuticals, Inc. is a biopharmaceutical company .It focuses on the development and commercialization of therapeutics for thrombosis, other hematologic disorders and inflammation. Portola Pharmaceuticals, Inc. is headquartered in South San Francisco, California. “
PTLA has been the subject of several other reports. ValuEngine raised Portola Pharmaceuticals from a hold rating to a buy rating in a report on Friday, March 1st. BidaskClub raised Portola Pharmaceuticals from a hold rating to a buy rating in a report on Wednesday, February 20th. Oppenheimer set a $30.00 price objective on Portola Pharmaceuticals and gave the company a buy rating in a report on Friday, February 8th. Finally, BNP Paribas increased their price objective on Portola Pharmaceuticals from $30.00 to $42.00 and gave the company a positive rating in a report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Portola Pharmaceuticals has a consensus rating of Buy and a consensus price target of $42.14.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings data on Friday, March 1st. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.11) by $0.07. The business had revenue of $15.30 million during the quarter, compared to the consensus estimate of $10.53 million. Portola Pharmaceuticals had a negative return on equity of 167.94% and a negative net margin of 872.72%. The company’s revenue was up 56.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.41) earnings per share. On average, sell-side analysts predict that Portola Pharmaceuticals will post -3.91 EPS for the current fiscal year.
In other news, Director Hollings Renton sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $34.45, for a total transaction of $172,250.00. Following the completion of the sale, the director now owns 14,000 shares in the company, valued at $482,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mardi Dier sold 40,486 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $37.39, for a total value of $1,513,771.54. Following the sale, the chief financial officer now owns 66,733 shares of the company’s stock, valued at approximately $2,495,146.87. The disclosure for this sale can be found here. 4.60% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Portola Pharmaceuticals by 1.1% in the third quarter. BlackRock Inc. now owns 5,307,407 shares of the biopharmaceutical company’s stock worth $141,335,000 after acquiring an additional 55,895 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Portola Pharmaceuticals in the third quarter worth $221,000. MetLife Investment Advisors LLC raised its position in Portola Pharmaceuticals by 55.2% in the third quarter. MetLife Investment Advisors LLC now owns 46,441 shares of the biopharmaceutical company’s stock worth $1,237,000 after acquiring an additional 16,509 shares in the last quarter. Macquarie Group Ltd. raised its position in Portola Pharmaceuticals by 119.9% in the third quarter. Macquarie Group Ltd. now owns 380,358 shares of the biopharmaceutical company’s stock worth $10,129,000 after acquiring an additional 207,358 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Portola Pharmaceuticals by 15.7% in the third quarter. Legal & General Group Plc now owns 24,157 shares of the biopharmaceutical company’s stock worth $644,000 after acquiring an additional 3,284 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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