$2.42 Million in Sales Expected for Portola Pharmaceuticals Inc (PTLA) This Quarter

Equities analysts predict that Portola Pharmaceuticals Inc (NASDAQ:PTLA) will announce $2.42 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Portola Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $2.40 million and the highest estimate coming in at $2.44 million. Portola Pharmaceuticals reported sales of $13.69 million in the same quarter last year, which indicates a negative year over year growth rate of 82.3%. The firm is expected to issue its next quarterly earnings results on Tuesday, February 27th.

On average, analysts expect that Portola Pharmaceuticals will report full year sales of $2.42 million for the current financial year, with estimates ranging from $15.14 million to $18.66 million. For the next year, analysts forecast that the firm will report sales of $157.06 million per share, with estimates ranging from $133.11 million to $203.47 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Portola Pharmaceuticals.

Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($1.41) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 return on equity of 110.46% and a negative net margin of 938.19%. The company’s revenue for the quarter was down 58.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.64) EPS.

Several analysts have recently issued reports on PTLA shares. Oppenheimer reaffirmed a “buy” rating and set a $80.00 price objective on shares of Portola Pharmaceuticals in a report on Tuesday, November 7th. Goldman Sachs Group started coverage on Portola Pharmaceuticals in a report on Friday, December 1st. They set a “buy” rating and a $75.00 price target on the stock. BidaskClub lowered Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Thursday, December 7th. Citigroup restated a “buy” rating and set a $74.00 price target on shares of Portola Pharmaceuticals in a report on Thursday, December 28th. Finally, William Blair restated a “buy” rating on shares of Portola Pharmaceuticals in a report on Monday, January 1st. 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 company’s stock. The company presently has an average rating of “Buy” and an average price target of $70.65.

Shares of Portola Pharmaceuticals (NASDAQ:PTLA) opened at $47.87 on Wednesday. The stock has a market capitalization of $3,020.49, a P/E ratio of -11.27 and a beta of 1.18. Portola Pharmaceuticals has a twelve month low of $26.90 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.

In related news, Director Henry Ward Wolff sold 12,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $47.00, for a total transaction of $564,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Kornitzer Capital Management Inc. KS grew its position in Portola Pharmaceuticals by 38.7% in the 3rd 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. State Street Corp grew its position in Portola Pharmaceuticals by 5.3% in the 2nd 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. Numeric Investors LLC bought a new position in Portola Pharmaceuticals in the 2nd quarter valued at $753,000. Raymond James Financial Services Advisors Inc. grew its position in Portola Pharmaceuticals by 69.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 7,452 shares of the biopharmaceutical company’s stock valued at $403,000 after acquiring an additional 3,044 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Portola Pharmaceuticals by 36.8% in the 3rd quarter. Prudential Financial Inc. now owns 123,316 shares of the biopharmaceutical company’s stock valued at $6,663,000 after acquiring an additional 33,180 shares during the last quarter. Institutional investors own 87.29% 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.

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