Portola Pharmaceuticals Inc (PTLA) Given a $51.00 Price Target at Citigroup Inc

Citigroup Inc set a $51.00 price target on Portola Pharmaceuticals Inc (NASDAQ:PTLA) in a research note issued to investors on Wednesday, April 19th. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on PTLA. Vetr downgraded shares of Portola Pharmaceuticals from a strong-buy rating to a buy rating and set a $45.18 target price for the company. in a research note on Monday, March 20th. Cowen and Company increased their price target on shares of Portola Pharmaceuticals from $40.00 to $45.00 and gave the company an outperform rating in a report on Monday, March 20th. Morgan Stanley increased their price target on shares of Portola Pharmaceuticals from $31.00 to $47.00 and gave the company an overweight rating in a report on Monday, March 6th. Oppenheimer Holdings Inc. reissued a buy rating on shares of Portola Pharmaceuticals in a report on Wednesday, March 22nd. Finally, CIBC raised shares of Portola Pharmaceuticals from a market perform rating to an outperform rating in a report on Friday, February 24th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Portola Pharmaceuticals has a consensus rating of Buy and an average price target of $39.90.

Portola Pharmaceuticals (NASDAQ:PTLA) traded down 2.02% on Wednesday, reaching $38.88. The company’s stock had a trading volume of 535,059 shares. Portola Pharmaceuticals has a 52 week low of $15.68 and a 52 week high of $42.74. The firm’s market capitalization is $2.22 billion. The stock’s 50 day moving average is $39.07 and its 200-day moving average is $29.57.

Portola Pharmaceuticals (NASDAQ:PTLA) last issued its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.20) by $0.46. Portola Pharmaceuticals had a negative net margin of 1,072.67% and a negative return on equity of 82.19%. The business had revenue of $5.12 million during the quarter, compared to the consensus estimate of $4.21 million. During the same period last year, the business posted ($1.15) EPS. Portola Pharmaceuticals’s revenue was down 37.9% on a year-over-year basis. Analysts predict that Portola Pharmaceuticals will post ($4.44) EPS for the current year.

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In related news, Director Charles J. Homcy sold 50,000 shares of Portola Pharmaceuticals stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $40.06, for a total value of $2,003,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William Lis sold 6,750 shares of Portola Pharmaceuticals stock in a transaction that occurred on Tuesday, April 11th. The shares were sold at an average price of $36.06, for a total transaction of $243,405.00. Following the completion of the transaction, the chief executive officer now directly owns 4,730 shares in the company, valued at $170,563.80. The disclosure for this sale can be found here. Insiders have sold 68,082 shares of company stock worth $2,696,566 over the last ninety days. Insiders own 4.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in PTLA. US Bancorp DE boosted 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 worth $1,611,000 after buying an additional 106 shares during the period. Principal Financial Group Inc. raised its stake in shares of Portola Pharmaceuticals by 0.3% in the first quarter. Principal Financial Group Inc. now owns 62,322 shares of the biopharmaceutical company’s stock worth $2,442,000 after buying an additional 202 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Portola Pharmaceuticals by 1.6% in the first quarter. Legal & General Group Plc now owns 18,364 shares of the biopharmaceutical company’s stock worth $719,000 after buying an additional 290 shares in the last quarter. Putnam Investments LLC raised its stake in shares of 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 in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of 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 worth $541,000 after buying an additional 680 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

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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