Amalgamated Bank Purchases Shares of 6,048 Portola Pharmaceuticals, Inc. (PTLA)

Amalgamated Bank purchased a new position in shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,048 shares of the biopharmaceutical company’s stock, valued at approximately $237,000.

Other hedge funds also recently modified their holdings of the company. First Mercantile Trust Co. acquired a new position in shares of Portola Pharmaceuticals during the first quarter worth about $165,000. Ameritas Investment Partners Inc. acquired a new position in shares of Portola Pharmaceuticals during the first quarter worth about $167,000. Fortaleza Asset Management Inc. acquired a new position in shares of Portola Pharmaceuticals during the first quarter worth about $193,000. Credit Agricole S A acquired a new position in shares of Portola Pharmaceuticals during the first quarter worth about $196,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Portola Pharmaceuticals during the first quarter worth about $330,000. 86.26% of the stock is owned by institutional investors and hedge funds.

Shares of Portola Pharmaceuticals, Inc. (PTLA) opened at 55.68 on Friday. The firm’s market capitalization is $3.21 billion. The firm has a 50-day moving average of $60.73 and a 200 day moving average of $42.42. Portola Pharmaceuticals, Inc. has a 52 week low of $15.68 and a 52 week high of $67.10.

Portola Pharmaceuticals (NASDAQ:PTLA) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.10) by $0.12. The firm had revenue of $3.79 million during the quarter, compared to analysts’ expectations of $4.28 million. Portola Pharmaceuticals had a negative return on equity of 145.12% and a negative net margin of 807.93%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.02) earnings per share. On average, equities analysts predict that Portola Pharmaceuticals, Inc. will post ($4.86) earnings per share for the current fiscal year.

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A number of equities analysts have recently weighed in on PTLA shares. Zacks Investment Research raised shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday, July 18th. Citigroup Inc. lifted their price target on shares of Portola Pharmaceuticals from $51.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, June 26th. Oppenheimer Holdings, Inc. set a $46.00 price target on shares of Portola Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, May 9th. BidaskClub raised shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Finally, ValuEngine raised shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.77.

In other news, major shareholder (Mauritius) Pte Ltd Maxwell sold 1,700,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $34.40, for a total transaction of $58,480,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tao Fu sold 5,812 shares of the stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total value of $377,780.00. The disclosure for this sale can be found here. Insiders sold a total of 2,289,656 shares of company stock valued at $91,298,131 over the last three months. 4.90% of the stock is currently owned by insiders.

Portola Pharmaceuticals Company Profile

Portola Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics in the areas of thrombosis, other hematologic disorders and inflammation for patients having limited or no approved treatment options. The Company’s two lead programs, Betrixaban and Andexanet alfa, address unmet medical needs in the area of thrombosis, or blood clots.

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

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