Portola Pharmaceuticals Inc (PTLA) Stake Lifted by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. grew its holdings in Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 18.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 270,471 shares of the biopharmaceutical company’s stock after acquiring an additional 42,284 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.41% of Portola Pharmaceuticals worth $14,614,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PTLA. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Portola Pharmaceuticals by 14.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock valued at $117,000 after acquiring an additional 258 shares during the last quarter. Jacobi Capital Management LLC purchased a new position in shares of Portola Pharmaceuticals in the 2nd quarter valued at about $125,000. IFP Advisors Inc increased its holdings in shares of Portola Pharmaceuticals by 7.7% in the 2nd quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 170 shares during the last quarter. QS Investors LLC purchased a new position in Portola Pharmaceuticals during the 2nd quarter worth approximately $147,000. Finally, Canada Pension Plan Investment Board purchased a new position in Portola Pharmaceuticals during the 3rd quarter worth approximately $178,000. Institutional investors and hedge funds own 87.25% of the company’s stock.

In other Portola Pharmaceuticals news, Director Henry Ward Wolff sold 12,000 shares of Portola Pharmaceuticals stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $47.00, for a total value of $564,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.50% of the company’s stock.

A number of research firms recently issued reports on PTLA. Oppenheimer set a $80.00 price target on Portola Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Morgan Stanley restated an “overweight” rating and set a $81.00 price target (up previously from $75.00) on shares of Portola Pharmaceuticals in a research note on Friday, October 6th. Goldman Sachs Group began coverage on Portola Pharmaceuticals in a research note on Friday, December 1st. They set a “buy” rating and a $75.00 price target on the stock. Finally, BidaskClub upgraded Portola Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $71.15.

Portola Pharmaceuticals Inc (NASDAQ PTLA) opened at $54.86 on Friday. The stock has a market capitalization of $3,640.00, a P/E ratio of -12.70 and a beta of 1.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 8.31 and a current ratio of 8.31. Portola Pharmaceuticals Inc has a 12 month low of $18.71 and a 12 month high of $67.10.

Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings results 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 return on equity of 110.46% and a negative net margin of 938.19%. The firm had revenue of $3.83 million for the quarter, compared to the consensus estimate of $4.71 million. During the same quarter last year, the business posted ($1.64) EPS. The firm’s quarterly revenue was down 58.9% compared to the same quarter last year. analysts expect that Portola Pharmaceuticals Inc will post -4.94 earnings per share for the current fiscal year.

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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.

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

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