Portola Pharmaceuticals (NASDAQ:PTLA) PT Set at $37.00 by Morgan Stanley

Portola Pharmaceuticals (NASDAQ:PTLA) has been assigned a $37.00 target price by Morgan Stanley in a research note issued on Friday, TipRanks reports. The brokerage currently has a “hold” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective indicates a potential upside of 20.80% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Credit Suisse Group reissued a “neutral” rating and issued a $35.00 target price on shares of Portola Pharmaceuticals in a report on Monday, August 5th. William Blair reissued a “buy” rating on shares of Portola Pharmaceuticals in a report on Friday. BidaskClub raised Portola Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday. Zacks Investment Research raised Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Wednesday, July 17th. Finally, ValuEngine cut Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Portola Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $41.43.

Portola Pharmaceuticals stock traded down $0.31 during trading hours on Friday, hitting $30.63. The stock had a trading volume of 892,296 shares, compared to its average volume of 1,222,218. Portola Pharmaceuticals has a fifty-two week low of $14.81 and a fifty-two week high of $37.95. The company has a debt-to-equity ratio of 453.47, a quick ratio of 4.77 and a current ratio of 3.63. The company’s 50-day simple moving average is $26.72. The stock has a market cap of $2.11 billion, a P/E ratio of -6.11 and a beta of 2.18.

Portola Pharmaceuticals (NASDAQ:PTLA) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.92) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.05) by $0.13. Portola Pharmaceuticals had a negative return on equity of 352.12% and a negative net margin of 379.94%. The business had revenue of $28.42 million during the quarter, compared to analysts’ expectations of $25.42 million. During the same period in the prior year, the firm posted ($1.61) EPS. Portola Pharmaceuticals’s quarterly revenue was up 608.7% compared to the same quarter last year. On average, equities analysts anticipate that Portola Pharmaceuticals will post -4.12 earnings per share for the current fiscal year.

In related news, Director Hollings Renton sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. Following the sale, the director now directly owns 18,194 shares in the company, valued at approximately $545,820. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.50% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Icon Wealth Partners LLC bought a new stake in Portola Pharmaceuticals during the 1st quarter worth approximately $26,000. Next Capital Management LLC bought a new position in Portola Pharmaceuticals in the 2nd quarter valued at $27,000. FTB Advisors Inc. bought a new position in Portola Pharmaceuticals in the 1st quarter valued at $33,000. Cornerstone Advisors Inc. bought a new position in Portola Pharmaceuticals in the 1st quarter valued at $46,000. Finally, Valley National Advisers Inc. boosted its position in Portola Pharmaceuticals by 32.0% in the 2nd quarter. Valley National Advisers Inc. now owns 4,046 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 981 shares during the last quarter.

Portola Pharmaceuticals Company Profile

Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes novel therapeutics in the areas of thrombosis and other hematologic disorders and inflammation in the United States. The company offers Andexxa, 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 venous thromboembolism in adult patients hospitalized for an acute medical illness.

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Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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