Emerald Mutual Fund Advisers Trust increased its holdings in shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 374,908 shares of the biopharmaceutical company’s stock after acquiring an additional 12,197 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.58% of Portola Pharmaceuticals worth $20,256,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sivik Global Healthcare LLC acquired a new stake in Portola Pharmaceuticals during the second quarter worth about $1,685,000. Russell Investments Group Ltd. acquired a new stake in Portola Pharmaceuticals during the second quarter worth about $1,047,000. State Street Corp raised its stake in Portola Pharmaceuticals by 5.3% during the second quarter. State Street Corp now owns 2,085,838 shares of the biopharmaceutical company’s stock worth $117,164,000 after acquiring an additional 105,207 shares during the period. TIAA CREF Investment Management LLC raised its stake in Portola Pharmaceuticals by 4.0% during the first quarter. TIAA CREF Investment Management LLC now owns 223,924 shares of the biopharmaceutical company’s stock worth $8,776,000 after acquiring an additional 8,673 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Portola Pharmaceuticals by 17.2% during the second quarter. Goldman Sachs Group Inc. now owns 688,092 shares of the biopharmaceutical company’s stock worth $38,650,000 after acquiring an additional 101,046 shares during the period. Hedge funds and other institutional investors own 85.46% of the company’s stock.
PTLA has been the topic of several research reports. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $80.00 price objective on shares of Portola Pharmaceuticals in a research note on Wednesday, September 6th. Zacks Investment Research upgraded shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Tuesday, July 18th. BidaskClub lowered shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Credit Suisse Group set a $70.00 price objective on shares of Portola Pharmaceuticals and gave the stock a “hold” rating in a research note on Thursday, August 10th. They noted that the move was a valuation call. Finally, Morgan Stanley reiterated an “overweight” rating and set a $81.00 price objective (up previously from $75.00) on shares of Portola Pharmaceuticals in a research note on Friday, October 6th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $65.15.
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Portola Pharmaceuticals (NASDAQ:PTLA) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.10) by ($0.12). Portola Pharmaceuticals had a negative return on equity of 145.12% and a negative net margin of 807.93%. The company had revenue of $3.79 million during the quarter, compared to the consensus estimate of $4.28 million. During the same period in the prior year, the firm posted ($1.02) earnings per share. The company’s revenue was down 10.4% on a year-over-year basis.
Portola Pharmaceuticals 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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