Amalgamated Bank purchased a new position in 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.
A number of other institutional investors have also bought and sold shares of the company. First Mercantile Trust Co. acquired a new position in Portola Pharmaceuticals during the first quarter valued at approximately $165,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Portola Pharmaceuticals during the first quarter valued at about $167,000. Fortaleza Asset Management Inc. acquired a new stake in shares of Portola Pharmaceuticals during the first quarter valued at about $193,000. Credit Agricole S A acquired a new stake in shares of Portola Pharmaceuticals during the first quarter valued at about $196,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Portola Pharmaceuticals during the first quarter valued at about $330,000. 86.47% of the stock is currently owned by hedge funds and other institutional investors.
Portola Pharmaceuticals, Inc. (PTLA) traded up 1.45% during mid-day trading on Friday, reaching $53.99. 694,590 shares of the company’s stock were exchanged. The firm’s market cap is $3.11 billion. The stock has a 50-day moving average of $60.53 and a 200-day moving average of $43.46. Portola Pharmaceuticals, Inc. has a 12 month low of $15.68 and a 12 month 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. Analysts anticipate that Portola Pharmaceuticals, Inc. will post ($4.86) earnings per share for the current year.
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Several equities research analysts have recently issued reports on PTLA shares. ValuEngine raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research cut shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Cowen and Company raised their price target on shares of Portola Pharmaceuticals from $45.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, June 26th. Finally, Credit Suisse Group restated a “neutral” rating and set a $58.00 price target (up previously from $39.00) on shares of Portola Pharmaceuticals in a research note on Monday, June 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $63.77.
In related news, insider John T. Curnutte sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total value of $650,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tao Fu sold 5,812 shares of the firm’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total transaction of $377,780.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,289,656 shares of company stock valued at $91,298,131. Insiders own 4.90% of the company’s stock.
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.
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