Portola Pharmaceuticals (PTLA) Stock Rating Upgraded by BidaskClub

Portola Pharmaceuticals (NASDAQ:PTLA) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Thursday.

A number of other analysts also recently issued reports on PTLA. Oppenheimer set a $80.00 price objective on shares of Portola Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday. Credit Suisse Group upgraded shares of Portola Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $70.00 price objective for the company in a report on Wednesday, August 23rd. Goldman Sachs Group assumed coverage on shares of Portola Pharmaceuticals in a report on Friday, December 1st. They set a “buy” rating and a $75.00 price objective for the company. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $81.00 target price (up previously from $75.00) on shares of Portola Pharmaceuticals in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $71.15.

Shares of Portola Pharmaceuticals (NASDAQ PTLA) opened at $54.86 on Thursday. Portola Pharmaceuticals has a 1-year low of $18.71 and a 1-year high of $67.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.31 and a quick ratio of 8.31.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($1.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.08. Portola Pharmaceuticals had a negative net margin of 938.19% and a negative return on equity of 110.46%. The business had revenue of $3.83 million during the quarter, compared to the consensus estimate of $4.71 million. During the same quarter last year, the company posted ($1.64) earnings per share. The firm’s quarterly revenue was down 58.9% compared to the same quarter last year. equities research analysts expect that Portola Pharmaceuticals will post -4.94 earnings per share for the current fiscal year.

In other news, Director Henry Ward Wolff sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $47.00, for a total value of $564,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in PTLA. Renaissance Technologies LLC bought a new position in shares of Portola Pharmaceuticals in the second quarter valued at approximately $21,187,000. Kornitzer Capital Management Inc. KS increased its stake in shares of Portola Pharmaceuticals by 38.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 727,812 shares of the biopharmaceutical company’s stock worth $39,324,000 after buying an additional 202,925 shares during the period. Zevenbergen Capital Investments LLC increased its stake in shares of Portola Pharmaceuticals by 71.4% in the second quarter. Zevenbergen Capital Investments LLC now owns 452,190 shares of the biopharmaceutical company’s stock worth $25,400,000 after buying an additional 188,320 shares during the period. Blue Jay Capital Management LLC purchased a new position in shares of Portola Pharmaceuticals in the second quarter worth $6,740,000. Finally, State Street Corp increased its stake in shares of Portola Pharmaceuticals by 5.3% in the second quarter. State Street Corp now owns 2,085,838 shares of the biopharmaceutical company’s stock worth $117,164,000 after buying an additional 105,207 shares during the period. Institutional investors own 87.25% of the company’s stock.

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About Portola Pharmaceuticals

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.

Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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