Portola Pharmaceuticals Inc (NASDAQ:PTLA) Stake Decreased by Harvey Capital Management Inc.

Harvey Capital Management Inc. lessened its stake in Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 159,172 shares of the biopharmaceutical company’s stock after selling 5,500 shares during the period. Portola Pharmaceuticals comprises 2.7% of Harvey Capital Management Inc.’s portfolio, making the stock its 13th biggest holding. Harvey Capital Management Inc. owned approximately 0.24% of Portola Pharmaceuticals worth $5,523,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Portola Pharmaceuticals by 0.4% in the fourth quarter. BlackRock Inc. now owns 5,326,939 shares of the biopharmaceutical company’s stock worth $103,982,000 after purchasing an additional 19,532 shares in the last quarter. Brandywine Global Investment Management LLC increased its holdings in shares of Portola Pharmaceuticals by 11.8% during the fourth quarter. Brandywine Global Investment Management LLC now owns 834,967 shares of the biopharmaceutical company’s stock worth $16,299,000 after buying an additional 87,999 shares in the last quarter. Sectoral Asset Management Inc increased its holdings in shares of Portola Pharmaceuticals by 10.6% during the fourth quarter. Sectoral Asset Management Inc now owns 823,607 shares of the biopharmaceutical company’s stock worth $16,077,000 after buying an additional 79,000 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Portola Pharmaceuticals by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 730,249 shares of the biopharmaceutical company’s stock worth $14,254,000 after buying an additional 33,734 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its holdings in shares of Portola Pharmaceuticals by 38.7% during the fourth quarter. Tocqueville Asset Management L.P. now owns 605,585 shares of the biopharmaceutical company’s stock worth $11,821,000 after buying an additional 168,905 shares in the last quarter.

In related news, Director Hollings Renton sold 5,000 shares of the firm’s stock in a transaction 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 directly owns 14,000 shares in the company, valued at $482,300. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mardi Dier sold 40,486 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $37.39, for a total transaction of $1,513,771.54. Following the sale, the chief financial officer now owns 66,733 shares in the company, valued at $2,495,146.87. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by company insiders.

Shares of PTLA stock opened at $31.56 on Friday. Portola Pharmaceuticals Inc has a 52-week low of $14.81 and a 52-week high of $45.60. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -6.30 and a beta of 2.35. The company has a current ratio of 5.12, a quick ratio of 5.01 and a debt-to-equity ratio of 2.25.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.02) earnings per share (EPS) 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 analysts’ expectations of $20.60 million. During the same period last year, the firm earned ($1.28) earnings per share. The business’s revenue for the quarter was up 233.9% on a year-over-year basis. As a group, equities analysts anticipate that Portola Pharmaceuticals Inc will post -3.91 earnings per share for the current year.

Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Thursday, April 4th. BidaskClub raised shares of Portola Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 4th. Oppenheimer set a $42.00 price target on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a report on Friday, April 12th. Finally, ValuEngine lowered shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Portola Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $42.29.

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About Portola Pharmaceuticals

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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Institutional Ownership by Quarter for Portola Pharmaceuticals (NASDAQ:PTLA)

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