Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) had its target price lifted by analysts at Oppenheimer Holdings, Inc. from $66.00 to $80.00 in a report released on Monday. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Oppenheimer Holdings, Inc.’s price objective points to a potential upside of 21.14% from the company’s previous close.
Several other equities analysts have also recently weighed in on PTLA. Zacks Investment Research upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Tuesday, July 18th. Cowen and Company lifted their price target on Portola Pharmaceuticals from $45.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, June 26th. Citigroup Inc. set a $51.00 price target on Portola Pharmaceuticals and gave the stock a “buy” rating in a report on Saturday, June 17th. BidaskClub upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Finally, ValuEngine upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $62.27.
Portola Pharmaceuticals (NASDAQ PTLA) opened at 66.04 on Monday. Portola Pharmaceuticals has a 52-week low of $15.68 and a 52-week high of $67.10. The firm’s market cap is $3.77 billion. The company’s 50 day moving average price is $49.40 and its 200 day moving average price is $38.37.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.20) by $0.46. The company had revenue of $5.12 million during the quarter, compared to analysts’ expectations of $4.21 million. Portola Pharmaceuticals had a negative return on equity of 106.68% and a negative net margin of 759.21%. Portola Pharmaceuticals’s revenue for the quarter was down 37.9% compared to the same quarter last year. During the same quarter last year, the company earned ($1.15) EPS. Analysts predict that Portola Pharmaceuticals will post ($4.30) earnings per share for the current fiscal year.
In other news, EVP Tao Fu sold 5,812 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $65.00, for a total transaction of $377,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William Lis sold 269,299 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $55.43, for a total value 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.
Several large investors have recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. acquired a new stake in Portola Pharmaceuticals during the first quarter worth $968,000. Princeton Alpha Management LP acquired a new stake in Portola Pharmaceuticals during the first quarter worth $360,000. UBS Asset Management Americas Inc. increased its stake in Portola Pharmaceuticals by 32.0% in the first quarter. UBS Asset Management Americas Inc. now owns 399,684 shares of the biopharmaceutical company’s stock worth $15,664,000 after buying an additional 96,962 shares during the last quarter. Marcus Capital LLC increased its stake in Portola Pharmaceuticals by 5.4% in the first quarter. Marcus Capital LLC now owns 97,675 shares of the biopharmaceutical company’s stock worth $3,828,000 after buying an additional 4,975 shares during the last quarter. Finally, Putnam Investments LLC increased its stake in Portola Pharmaceuticals by 3.0% in the fourth quarter. Putnam Investments LLC now owns 10,531 shares of the biopharmaceutical company’s stock worth $236,000 after buying an additional 310 shares during the last quarter. Institutional investors own 84.97% 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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