Portola Pharmaceuticals (PTLA) Upgraded to “Sell” by BidaskClub

BidaskClub upgraded shares of Portola Pharmaceuticals (NASDAQ:PTLA) from a strong sell rating to a sell rating in a report issued on Wednesday morning.

PTLA has been the subject of several other reports. Zacks Investment Research raised shares of Portola Pharmaceuticals from a hold rating to a buy rating and set a $23.00 target price for the company in a research report on Wednesday, November 14th. William Blair restated a buy rating on shares of Portola Pharmaceuticals in a research note on Wednesday, September 12th. ValuEngine upgraded shares of Portola Pharmaceuticals from a sell rating to a hold rating in a research note on Thursday, November 8th. Oppenheimer set a $30.00 price objective on shares of Portola Pharmaceuticals and gave the stock a buy rating in a report on Sunday, December 9th. Finally, Credit Suisse Group dropped their price objective on shares of Portola Pharmaceuticals from $34.00 to $30.00 and set a hold rating on the stock in a report on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Portola Pharmaceuticals presently has a consensus rating of Hold and an average price target of $37.50.

Shares of PTLA stock traded up $0.03 on Wednesday, hitting $22.76. 30,336 shares of the company’s stock traded hands, compared to its average volume of 2,754,650. The firm has a market cap of $1.29 billion, a P/E ratio of -4.74 and a beta of 1.89. The company has a debt-to-equity ratio of 1.21, a quick ratio of 6.51 and a current ratio of 6.61. Portola Pharmaceuticals has a one year low of $14.81 and a one year high of $55.48.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($1.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.54) by $0.46. The business had revenue of $14.20 million during the quarter, compared to analysts’ expectations of $7.10 million. Portola Pharmaceuticals had a negative net margin of 1,020.52% and a negative return on equity of 135.08%. The firm’s revenue for the quarter was up 270.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.41) EPS. As a group, analysts forecast that Portola Pharmaceuticals will post -5.03 EPS for the current year.

In other Portola Pharmaceuticals news, Director Charles J. Homcy sold 64,218 shares of the business’s stock in a transaction on Monday, December 17th. The shares were sold at an average price of $18.61, for a total transaction of $1,195,096.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PTLA. William Blair Investment Management LLC purchased a new stake in shares of Portola Pharmaceuticals during the third quarter valued at $48,521,000. Jackson Square Partners LLC purchased a new stake in shares of Portola Pharmaceuticals during the third quarter valued at about $26,924,000. PointState Capital LP purchased a new stake in shares of Portola Pharmaceuticals during the third quarter valued at about $17,576,000. BlackRock Inc. lifted its position in shares of Portola Pharmaceuticals by 12.5% during the second quarter. BlackRock Inc. now owns 5,251,512 shares of the biopharmaceutical company’s stock valued at $198,351,000 after buying an additional 583,581 shares during the last quarter. Finally, Highland Capital Management LP lifted its position in shares of Portola Pharmaceuticals by 67.8% during the third quarter. Highland Capital Management LP now owns 1,174,555 shares of the biopharmaceutical company’s stock valued at $31,279,000 after buying an additional 474,735 shares during the last quarter.

About Portola Pharmaceuticals

Portola Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics that could advance the fields of thrombosis and other hematologic diseases. The company's two FDA-approved medicines are Andexxa (coagulation factor Xa (recombinant), inactivated-zhzo), an antidote for patients treated with rivaroxaban and apixaban when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding; and Bevyxxa (betrixaban), an oral, once-daily Factor Xa inhibitor for the prevention of VTE in adult patients hospitalized for an acute medical illness.

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