ValuEngine Upgrades Portola Pharmaceuticals (PTLA) to Buy

Portola Pharmaceuticals (NASDAQ:PTLA) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, May 29th.

Other equities analysts have also recently issued research reports about the stock. Credit Suisse Group restated an “outperform” rating and issued a $53.00 price objective (down previously from $68.00) on shares of Portola Pharmaceuticals in a research note on Wednesday, February 21st. Oppenheimer set a $72.00 price objective on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, February 20th. BidaskClub cut shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Zacks Investment Research cut shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. Finally, Morgan Stanley dropped their price objective on shares of Portola Pharmaceuticals from $74.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $64.86.

Portola Pharmaceuticals traded up $0.29, reaching $41.51, during mid-day trading on Tuesday, MarketBeat reports. The company had a trading volume of 1,619,663 shares, compared to its average volume of 1,316,663. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.59 and a quick ratio of 7.53. Portola Pharmaceuticals has a 52 week low of $30.10 and a 52 week high of $67.10. The company has a market cap of $2.82 billion, a PE ratio of -8.63 and a beta of 1.50.

Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.06). Portola Pharmaceuticals had a negative net margin of 1,364.89% and a negative return on equity of 109.35%. The company had revenue of $6.64 million during the quarter, compared to the consensus estimate of $3.20 million. During the same period last year, the company earned ($0.74) earnings per share. Portola Pharmaceuticals’s revenue for the quarter was up 29.7% on a year-over-year basis. analysts expect that Portola Pharmaceuticals will post -5.3 earnings per share for the current fiscal year.

In related news, CEO William Lis sold 5,113 shares of the stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $45.21, for a total transaction of $231,158.73. Following the completion of the sale, the chief executive officer now owns 222,035 shares in the company, valued at approximately $10,038,202.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in PTLA. SG Americas Securities LLC acquired a new stake in shares of Portola Pharmaceuticals during the 1st quarter worth about $128,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Portola Pharmaceuticals by 54.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,219 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 1,141 shares in the last quarter. Silvant Capital Management LLC acquired a new stake in shares of Portola Pharmaceuticals during the 1st quarter worth about $186,000. Penbrook Management LLC acquired a new stake in shares of Portola Pharmaceuticals during the 4th quarter worth about $209,000. Finally, Dupont Capital Management Corp acquired a new stake in shares of Portola Pharmaceuticals during the 4th quarter worth about $242,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

About Portola Pharmaceuticals

Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics in the areas of thrombosis, other hematologic disorders, and inflammation. The company is developing Betrixaban, an oral once-daily Factor Xa inhibitor for hospital and extended duration prophylaxis of venous thromboembolism in adults hospitalized for an acute medical illness; Andexanet alfa, a recombinant protein that is in Phase III study for reverse anticoagulant activity in patients treated with fXa inhibitor; and Cerdulatinib, a spleen tyrosine kinase inhibitor, which is in Phase IIa clinical stage to treat hematologic cancers.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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