Portola Pharmaceuticals’ (PTLA) “Buy” Rating Reaffirmed at Oppenheimer Holdings, Inc.

Portola Pharmaceuticals Inc (NASDAQ:PTLA)‘s stock had its “buy” rating reiterated by investment analysts at Oppenheimer Holdings, Inc. in a report issued on Tuesday, November 7th. They currently have a $80.00 price target on the biopharmaceutical company’s stock. Oppenheimer Holdings, Inc.’s target price points to a potential upside of 58.26% from the stock’s previous close. Oppenheimer also issued estimates for Portola Pharmaceuticals’ Q4 2017 earnings at ($1.67) EPS, FY2017 earnings at ($5.07) EPS, FY2018 earnings at ($3.08) EPS, FY2019 earnings at ($0.28) EPS, FY2020 earnings at $3.48 EPS and FY2021 earnings at $5.81 EPS.

PTLA has been the subject of a number of other reports. Zacks Investment Research cut Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub cut Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price target (up from $75.00) on shares of Portola Pharmaceuticals in a research note on Friday, October 6th. Finally, Credit Suisse Group raised Portola Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $70.00 price target for the company in a research note on Wednesday, August 23rd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $65.15.

Portola Pharmaceuticals (NASDAQ PTLA) traded down $0.72 during trading on Tuesday, reaching $50.55. 330,613 shares of the company’s stock were exchanged, compared to its average volume of 636,500. The company has a debt-to-equity ratio of 0.24, a quick ratio of 8.31 and a current ratio of 8.31. Portola Pharmaceuticals has a 52 week low of $17.15 and a 52 week high of $67.10.

Portola Pharmaceuticals (NASDAQ:PTLA) last released its earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.08. Portola Pharmaceuticals had a negative net margin of 938.19% and a negative return on equity of 110.46%. The company had revenue of $3.83 million for the quarter, compared to the consensus estimate of $4.71 million. During the same period in the prior year, the company posted ($1.64) EPS. The company’s revenue was down 58.9% compared to the same quarter last year. analysts forecast that Portola Pharmaceuticals will post -4.95 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hanseatic Management Services Inc. increased its stake in Portola Pharmaceuticals by 0.3% during the 2nd quarter. Hanseatic Management Services Inc. now owns 22,800 shares of the biopharmaceutical company’s stock worth $1,281,000 after purchasing an additional 70 shares in the last quarter. IFP Advisors Inc increased its stake in Portola Pharmaceuticals by 7.7% during the 2nd quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 170 shares in the last quarter. Principal Financial Group Inc. increased its stake in Portola Pharmaceuticals by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 62,322 shares of the biopharmaceutical company’s stock worth $2,442,000 after purchasing an additional 202 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Portola Pharmaceuticals by 14.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock worth $117,000 after purchasing an additional 258 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Portola Pharmaceuticals by 1.6% during the 1st quarter. Legal & General Group Plc now owns 18,364 shares of the biopharmaceutical company’s stock worth $719,000 after purchasing an additional 290 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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