Empire Life Investments Inc. cut its position in shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 57.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,219 shares of the biopharmaceutical company’s stock after selling 78,833 shares during the quarter. Empire Life Investments Inc. owned about 0.09% of Portola Pharmaceuticals worth $2,020,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Portola Pharmaceuticals by 1.1% during 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. Macquarie Group Ltd. boosted its stake in Portola Pharmaceuticals by 119.9% during 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. Virtus ETF Advisers LLC boosted its stake in Portola Pharmaceuticals by 72.9% during the fourth quarter. Virtus ETF Advisers LLC now owns 32,607 shares of the biopharmaceutical company’s stock worth $636,000 after acquiring an additional 13,746 shares in the last quarter. Norges Bank bought a new position in Portola Pharmaceuticals during the fourth quarter worth $11,465,000. Finally, Foresite Capital Management IV LLC bought a new position in Portola Pharmaceuticals during the fourth quarter worth $4,880,000.
PTLA has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Portola Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 10th. Oppenheimer set a $30.00 target price on shares of Portola Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, January 14th. BidaskClub raised shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. ValuEngine raised shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Finally, BNP Paribas increased their target price on shares of Portola Pharmaceuticals from $30.00 to $42.00 and gave the stock a “positive” rating in a research note on Monday, March 4th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Portola Pharmaceuticals currently has an average rating of “Buy” and an average price target of $42.29.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($1.02). Portola Pharmaceuticals had a negative net margin of 872.72% and a negative return on equity of 167.94%. The firm had revenue of $22.17 million for the quarter, compared to analyst estimates of $20.60 million. During the same period last year, the firm earned ($1.28) earnings per share. The business’s quarterly revenue was up 233.9% compared to the same quarter last year. Equities research analysts predict that Portola Pharmaceuticals Inc will post -3.91 EPS for the current year.
In other news, Director Hollings Renton sold 5,000 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $34.45, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mardi Dier sold 40,486 shares of the stock in a transaction dated 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 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 currently owned by company insiders.
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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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