Zacks: Analysts Expect Portola Pharmaceuticals Inc (PTLA) Will Post Quarterly Sales of $24.29 Million

Equities analysts expect Portola Pharmaceuticals Inc (NASDAQ:PTLA) to announce sales of $24.29 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Portola Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $22.94 million and the highest estimate coming in at $25.63 million. Portola Pharmaceuticals reported sales of $4.01 million in the same quarter last year, which indicates a positive year-over-year growth rate of 505.7%. The business is expected to report its next earnings report on Thursday, August 8th.

According to Zacks, analysts expect that Portola Pharmaceuticals will report full-year sales of $116.72 million for the current fiscal year, with estimates ranging from $103.45 million to $134.77 million. For the next fiscal year, analysts expect that the company will post sales of $246.96 million, with estimates ranging from $181.11 million to $326.87 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Portola Pharmaceuticals.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings results 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 return on equity of 238.48% and a negative net margin of 618.46%. The firm had revenue of $22.17 million for the quarter, compared to analysts’ expectations of $20.60 million. During the same period in the prior year, the business posted ($1.28) earnings per share. The business’s revenue was up 233.9% compared to the same quarter last year.

Several analysts have recently commented on the company. Oppenheimer set a $30.00 target price on Portola Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, February 8th. BidaskClub upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th. Zacks Investment Research upgraded Portola Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a report on Thursday, February 21st. ValuEngine upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Finally, BNP Paribas increased their target price on Portola Pharmaceuticals from $30.00 to $42.00 and gave the stock a “positive” rating in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Portola Pharmaceuticals currently has an average rating of “Hold” and an average target price of $42.29.

Shares of NASDAQ:PTLA opened at $29.08 on Friday. Portola Pharmaceuticals has a fifty-two week low of $14.81 and a fifty-two week high of $45.60. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -5.80 and a beta of 2.35. The company has a current ratio of 4.81, a quick ratio of 4.77 and a debt-to-equity ratio of 5.15.

In related news, Director Hollings Renton sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $34.45, for a total value of $172,250.00. Following the transaction, the director now owns 14,000 shares in the company, valued at $482,300. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mardi Dier sold 40,486 shares of the firm’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 completion of the transaction, the chief financial officer now owns 66,733 shares in the company, 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 corporate insiders.

A number of institutional investors have recently bought and sold shares of PTLA. Fiera Capital Corp bought a new position in Portola Pharmaceuticals in the first quarter valued at about $53,590,000. William Blair Investment Management LLC boosted its holdings in Portola Pharmaceuticals by 41.7% in the first quarter. William Blair Investment Management LLC now owns 4,154,870 shares of the biopharmaceutical company’s stock valued at $144,174,000 after acquiring an additional 1,222,057 shares during the last quarter. Norges Bank bought a new position in Portola Pharmaceuticals in the fourth quarter valued at about $11,465,000. Peregrine Capital Management LLC bought a new position in Portola Pharmaceuticals in the fourth quarter valued at about $10,626,000. Finally, Emerald Advisers LLC bought a new position in Portola Pharmaceuticals in the first quarter valued at about $14,058,000.

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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Earnings History and Estimates for Portola Pharmaceuticals (NASDAQ:PTLA)

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