Principal Financial Group Inc. boosted its position in shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) by 0.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,322 shares of the biopharmaceutical company’s stock after buying an additional 202 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of Portola Pharmaceuticals worth $2,442,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. US Bancorp DE raised its position in shares of Portola Pharmaceuticals by 0.3% in the first quarter. US Bancorp DE now owns 41,106 shares of the biopharmaceutical company’s stock valued at $1,611,000 after buying an additional 106 shares during the last quarter. Putnam Investments LLC raised its position in Portola Pharmaceuticals by 3.0% in the fourth quarter. Putnam Investments LLC now owns 10,531 shares of the biopharmaceutical company’s stock valued at $236,000 after buying an additional 310 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in Portola Pharmaceuticals by 2.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 24,095 shares of the biopharmaceutical company’s stock valued at $541,000 after buying an additional 680 shares in the last quarter. American International Group Inc. raised its position in Portola Pharmaceuticals by 5.2% in the first quarter. American International Group Inc. now owns 29,808 shares of the biopharmaceutical company’s stock valued at $1,168,000 after buying an additional 1,483 shares in the last quarter. Finally, Swiss National Bank raised its position in Portola Pharmaceuticals by 3.4% in the first quarter. Swiss National Bank now owns 93,057 shares of the biopharmaceutical company’s stock worth $3,647,000 after buying an additional 3,100 shares during the period. 86.47% of the stock is owned by institutional investors and hedge funds.
Shares of Portola Pharmaceuticals, Inc. (PTLA) traded down 0.56% on Wednesday, reaching $54.70. The company’s stock had a trading volume of 650,667 shares. Portola Pharmaceuticals, Inc. has a 1-year low of $15.68 and a 1-year high of $67.10. The stock’s market capitalization is $3.15 billion. The stock has a 50-day moving average of $60.65 and a 200 day moving average of $43.10.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.10) by $0.12. The firm had revenue of $3.79 million for the quarter, compared to analyst estimates of $4.28 million. Portola Pharmaceuticals had a negative net margin of 807.93% and a negative return on equity of 145.12%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.02) EPS. On average, equities analysts forecast that Portola Pharmaceuticals, Inc. will post ($4.86) EPS for the current year.
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A number of research analysts recently issued reports on PTLA shares. Oppenheimer Holdings, Inc. set a $46.00 target price on Portola Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, May 9th. Citigroup Inc. set a $51.00 price target on Portola Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, April 19th. Morgan Stanley lifted their target price on Portola Pharmaceuticals from $50.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, June 26th. 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, Zacks Investment Research upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday, July 18th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Portola Pharmaceuticals has a consensus rating of “Buy” and an average price target of $63.77.
In other news, insider John T. Curnutte sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total value of $650,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Lis sold 269,299 shares of the stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $55.43, for a total transaction of $14,927,243.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,289,656 shares of company stock valued at $91,298,131. Corporate insiders own 4.90% of the company’s stock.
Portola Pharmaceuticals Company Profile
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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