Portola Pharmaceuticals (PTLA) Rating Lowered to Strong Sell at BidaskClub

Portola Pharmaceuticals (NASDAQ:PTLA) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Friday.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley reissued an “overweight” rating and set a $81.00 target price (up previously from $75.00) on shares of Portola Pharmaceuticals in a report on Friday, October 6th. Goldman Sachs Group started coverage on Portola Pharmaceuticals in a report on Friday, December 1st. They set a “buy” rating and a $75.00 target price for the company. Oppenheimer set a $80.00 target price on Portola Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, October 6th. Citigroup reissued a “buy” rating and set a $74.00 target price on shares of Portola Pharmaceuticals in a report on Thursday, December 28th. Finally, Zacks Investment Research raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. One research 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. Portola Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $70.65.

Shares of Portola Pharmaceuticals (PTLA) opened at $49.69 on Friday. Portola Pharmaceuticals has a twelve month low of $24.53 and a twelve month high of $67.10. The company has a current ratio of 8.31, a quick ratio of 8.31 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3,240.00, a price-to-earnings ratio of -11.50 and a beta of 1.21.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) earnings per share for the quarter, topping the Zacks’ consensus estimate 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 company 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 firm earned ($1.64) earnings per share. The company’s revenue was down 58.9% on a year-over-year basis. research analysts forecast that Portola Pharmaceuticals will post -4.94 EPS for the current fiscal year.

In related news, Director Henry Ward Wolff sold 12,000 shares of the firm’s stock in a transaction 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 legal filing with the SEC, which is available at this hyperlink. 5.50% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of PTLA. Renaissance Technologies LLC bought a new position in shares of Portola Pharmaceuticals in the second quarter worth $21,187,000. Kornitzer Capital Management Inc. KS grew its position in 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 valued at $39,324,000 after acquiring an additional 202,925 shares during the last quarter. Zevenbergen Capital Investments LLC grew its position in Portola Pharmaceuticals by 71.4% in the second quarter. Zevenbergen Capital Investments LLC now owns 452,190 shares of the biopharmaceutical company’s stock valued at $25,400,000 after acquiring an additional 188,320 shares during the last quarter. Blue Jay Capital Management LLC bought a new position in Portola Pharmaceuticals in the second quarter valued at about $6,740,000. Finally, State Street Corp grew its position in Portola Pharmaceuticals by 5.3% in the second quarter. State Street Corp now owns 2,085,838 shares of the biopharmaceutical company’s stock valued at $117,164,000 after acquiring an additional 105,207 shares during the last quarter. 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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