Wells Fargo & Company MN grew its holdings in Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 12.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,793 shares of the biopharmaceutical company’s stock after purchasing an additional 5,010 shares during the quarter. Wells Fargo & Company MN’s holdings in Portola Pharmaceuticals were worth $2,529,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Portola Pharmaceuticals by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock worth $117,000 after acquiring an additional 258 shares during the last quarter. QS Investors LLC purchased a new position in Portola Pharmaceuticals in the second quarter worth approximately $147,000. Canada Pension Plan Investment Board purchased a new position in Portola Pharmaceuticals in the third quarter worth approximately $178,000. WealthPLAN Partners LLC lifted its stake in Portola Pharmaceuticals by 2,781.5% in the second quarter. WealthPLAN Partners LLC now owns 3,746 shares of the biopharmaceutical company’s stock worth $210,000 after acquiring an additional 3,616 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in Portola Pharmaceuticals in the third quarter worth approximately $217,000. 87.25% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on PTLA shares. Oppenheimer reiterated a “buy” rating and issued a $80.00 price target on shares of Portola Pharmaceuticals in a research note on Tuesday, November 7th. BidaskClub downgraded shares of Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 7th. Zacks Investment Research downgraded shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. William Blair reiterated a “buy” rating on shares of Portola Pharmaceuticals in a research note on Monday, January 1st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $81.00 price target (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 assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $70.65.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($1.41) earnings per share for the quarter, topping the consensus estimate of ($1.49) by $0.08. The business had revenue of $3.83 million during the quarter, compared to the consensus estimate of $4.71 million. Portola Pharmaceuticals had a negative net margin of 938.19% and a negative return on equity of 110.46%. The company’s revenue was down 58.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.64) EPS. sell-side analysts forecast that Portola Pharmaceuticals Inc 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 business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is currently owned by insiders.
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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