Portola Pharmaceuticals (PTLA) Downgraded to “Hold” at Zacks Investment Research

Portola Pharmaceuticals (NASDAQ:PTLA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

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 a number of other reports. Oppenheimer set a $30.00 price objective on shares of Portola Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, January 14th. BidaskClub upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. 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 price target on shares of Portola Pharmaceuticals from $30.00 to $42.00 and gave the company a “positive” rating in a report on Monday, March 4th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Portola Pharmaceuticals has an average rating of “Buy” and a consensus target price of $42.29.

Shares of PTLA opened at $35.99 on Wednesday. The company has a market capitalization of $2.45 billion, a PE ratio of -7.18 and a beta of 2.39. The company has a debt-to-equity ratio of 2.25, a current ratio of 5.12 and a quick ratio of 5.01. Portola Pharmaceuticals has a fifty-two week low of $14.81 and a fifty-two 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) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.09) by $0.05. The firm had revenue of $15.30 million during 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 business’s quarterly revenue was up 56.1% on a year-over-year basis. During the same period in the previous year, the business posted ($1.41) EPS. Equities research analysts expect that Portola Pharmaceuticals will post -3.91 earnings per share for the current year.

In other news, CFO Mardi Dier sold 40,486 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 66,733 shares of the company’s stock, valued at approximately $2,495,146.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hollings Renton sold 5,000 shares of the company’s stock in a transaction dated 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 directly owns 14,000 shares in the company, valued at $482,300. The disclosure for this sale can be found here. 4.60% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in PTLA. Norges Bank purchased a new stake in Portola Pharmaceuticals during the 4th quarter valued at about $11,465,000. Peregrine Capital Management LLC purchased a new stake in Portola Pharmaceuticals during the 4th quarter valued at about $10,626,000. Tamarack Advisers LP purchased a new stake in Portola Pharmaceuticals during the 4th quarter valued at about $7,808,000. Elk Creek Partners LLC purchased a new stake in Portola Pharmaceuticals during the 4th quarter valued at about $7,375,000. Finally, Foresite Capital Management IV LLC purchased a new stake in Portola Pharmaceuticals during the 4th quarter valued at about $4,880,000.

Portola Pharmaceuticals Company Profile

Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes novel therapeutics in the areas of thrombosis and other hematologic disorders and inflammation in the United States. The company offers Andexxa, 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 venous thromboembolism in adult patients hospitalized for an acute medical illness.

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