Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) – Research analysts at Oppenheimer Holdings cut their FY2019 earnings per share (EPS) estimates for shares of Portola Pharmaceuticals in a research note issued on Thursday. Oppenheimer Holdings analyst J. Olson now forecasts that the biopharmaceutical company will earn $0.82 per share for the year, down from their prior forecast of $0.85. Oppenheimer Holdings currently has a “Outperform” rating and a $80.00 target price on the stock.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.10) by $0.12. The business had revenue of $3.79 million during the quarter, compared to the consensus estimate of $4.28 million. Portola Pharmaceuticals had a negative net margin of 807.93% and a negative return on equity of 145.12%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period last year, the firm earned ($1.02) EPS.
PTLA has been the topic of a number of other research reports. ValuEngine upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research cut Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Credit Suisse Group restated a “neutral” rating and issued a $58.00 price target (up previously from $39.00) on shares of Portola Pharmaceuticals in a research report on Monday, June 26th. Finally, Cowen and Company raised their price target on Portola Pharmaceuticals from $45.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, June 26th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $63.77.
Shares of Portola Pharmaceuticals (NASDAQ PTLA) opened at 55.68 on Friday. The firm has a 50-day moving average of $60.73 and a 200 day moving average of $42.42. Portola Pharmaceuticals has a one year low of $15.68 and a one year high of $67.10. The company’s market cap is $3.21 billion.
In other Portola Pharmaceuticals news, major shareholder (Mauritius) Pte Ltd Maxwell sold 1,700,000 shares of Portola Pharmaceuticals stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $34.40, for a total value of $58,480,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Tao Fu sold 5,812 shares of Portola Pharmaceuticals stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total value of $377,780.00. The disclosure for this sale can be found here. Insiders sold 2,289,656 shares of company stock worth $91,298,131 in the last 90 days. 4.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTLA. Norges Bank acquired a new position in Portola Pharmaceuticals during the fourth quarter worth about $10,046,000. Hartwell J M Limited Partnership acquired a new position in Portola Pharmaceuticals during the first quarter worth about $402,000. First Mercantile Trust Co. acquired a new position in Portola Pharmaceuticals during the first quarter worth about $165,000. C WorldWide Group Holding A S boosted its position in Portola Pharmaceuticals by 9.1% in the first quarter. C WorldWide Group Holding A S now owns 124,553 shares of the biopharmaceutical company’s stock worth $4,881,000 after buying an additional 10,373 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in Portola Pharmaceuticals during the first quarter worth about $651,000. Hedge funds and other institutional investors own 86.26% of the company’s stock.
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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