Oppenheimer Holdings, Inc. set a $80.00 price target on Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) in a research report report published on Friday. The firm currently has a buy rating on the biopharmaceutical company’s stock.
Several other research firms also recently issued reports on PTLA. BidaskClub upgraded shares of Portola Pharmaceuticals from a hold rating to a buy rating in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of Portola Pharmaceuticals from a hold rating to a buy rating and set a $70.00 price objective for the company in a research note on Tuesday, July 18th. Credit Suisse Group set a $70.00 price objective on shares of Portola Pharmaceuticals and gave the company a hold rating in a research note on Thursday, August 10th. They noted that the move was a valuation call. Cowen and Company upped their price objective on shares of Portola Pharmaceuticals from $45.00 to $70.00 and gave the company an outperform rating in a research note on Monday, June 26th. Finally, William Blair restated an outperform rating on shares of Portola Pharmaceuticals in a research note on Monday, June 26th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Portola Pharmaceuticals currently has an average rating of Buy and a consensus price target of $65.15.
Portola Pharmaceuticals (NASDAQ PTLA) opened at 54.97 on Friday. Portola Pharmaceuticals has a 52 week low of $15.68 and a 52 week high of $67.10. The company has a 50-day moving average price of $56.09 and a 200-day moving average price of $49.15. The stock’s market cap is $3.17 billion.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.12). Portola Pharmaceuticals had a negative net margin of 807.93% and a negative return on equity of 145.12%. The company had revenue of $3.79 million during the quarter, compared to analyst estimates of $4.28 million. During the same quarter in the prior year, the company earned ($1.02) EPS. The business’s revenue was down 10.4% on a year-over-year basis. Equities research analysts anticipate that Portola Pharmaceuticals will post ($4.82) EPS for the current year.
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In other news, EVP Tao Fu sold 5,812 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total transaction of $377,780.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John T. Curnutte sold 10,000 shares of the stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $65.00, for a total transaction of $650,000.00. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Portola Pharmaceuticals by 14.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 258 shares during the period. Jacobi Capital Management LLC acquired a new stake in shares of Portola Pharmaceuticals during the second quarter worth about $125,000. IFP Advisors Inc boosted its stake in shares of Portola Pharmaceuticals by 7.7% during the second quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 170 shares during the period. QS Investors LLC acquired a new stake in shares of Portola Pharmaceuticals during the second quarter worth about $147,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Portola Pharmaceuticals during the first quarter worth about $167,000. Institutional investors and hedge funds own 85.02% 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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