Stock Traders Purchase Large Volume of Put Options on Portola Pharmaceuticals (PTLA)

Portola Pharmaceuticals Inc (NASDAQ:PTLA) saw unusually large options trading activity on Tuesday. Stock traders acquired 1,083 put options on the company. This is an increase of approximately 442% compared to the typical daily volume of 200 put options.

Portola Pharmaceuticals (NASDAQ:PTLA) opened at $47.25 on Friday. The company has a market cap of $3,200.00, a price-to-earnings ratio of -10.94 and a beta of 1.21. Portola Pharmaceuticals has a 1-year low of $22.17 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 announced its earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) EPS for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.08. The business had revenue of $3.83 million for the quarter, compared to analysts’ expectations of $4.71 million. Portola Pharmaceuticals had a negative net margin of 2,166.69% and a negative return on equity of 123.88%. The company’s quarterly revenue was down 58.9% on a year-over-year basis. During the same period in the previous year, the company posted ($1.64) EPS. analysts predict that Portola Pharmaceuticals will post -4.94 earnings per share for the current fiscal year.

In other Portola Pharmaceuticals 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 transaction of $564,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.50% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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 buying an additional 258 shares during the period. Jacobi Capital Management LLC acquired a new position in Portola Pharmaceuticals in the 2nd quarter valued at $125,000. QS Investors LLC acquired a new position in Portola Pharmaceuticals in the 2nd quarter valued at $147,000. Oppenheimer Asset Management Inc. increased its stake in Portola Pharmaceuticals by 251.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,862 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 2,047 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Portola Pharmaceuticals in the 3rd quarter valued at $178,000. 87.25% of the stock is currently owned by institutional investors.

A number of equities analysts have recently commented on PTLA shares. Citigroup reaffirmed a “buy” rating and issued a $74.00 target price on shares of Portola Pharmaceuticals in a report on Thursday. Oppenheimer set a $80.00 target price on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, December 19th. Goldman Sachs Group started coverage on shares of Portola Pharmaceuticals in a report on Friday, December 1st. They issued a “buy” rating and a $75.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 target price (up from $75.00) on shares of Portola Pharmaceuticals in a report on Friday, October 6th. Finally, BidaskClub raised shares of Portola Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, December 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $70.65.

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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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