UBS Group AG lowered its stake in shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) by 98.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,757 shares of the biopharmaceutical company’s stock after selling 249,734 shares during the period. UBS Group AG’s holdings in Portola Pharmaceuticals were worth $187,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. First Mercantile Trust Co. acquired a new stake in shares of Portola Pharmaceuticals during the first quarter valued at approximately $165,000. Ameritas Investment Partners Inc. purchased a new stake in Portola Pharmaceuticals during the first quarter worth approximately $167,000. Fortaleza Asset Management Inc. purchased a new stake in Portola Pharmaceuticals during the first quarter worth approximately $193,000. Credit Agricole S A purchased a new stake in Portola Pharmaceuticals during the first quarter worth approximately $196,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Portola Pharmaceuticals during the first quarter worth approximately $330,000. Institutional investors own 86.26% of the company’s stock.
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) traded down 0.39% during trading on Tuesday, hitting $60.68. 70,421 shares of the stock were exchanged. The firm’s 50-day moving average is $55.56 and its 200 day moving average is $40.78. The firm’s market cap is $3.46 billion. Portola Pharmaceuticals, Inc. has a 52 week low of $15.68 and a 52 week high of $67.10.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($1.20) by $0.46. The company had revenue of $5.12 million during the quarter, compared to the consensus estimate of $4.21 million. Portola Pharmaceuticals had a negative net margin of 759.21% and a negative return on equity of 106.68%. The firm’s revenue for the quarter was down 37.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.15) earnings per share. Analysts expect that Portola Pharmaceuticals, Inc. will post ($4.30) earnings per share for the current fiscal year.
A number of research firms recently commented on PTLA. Credit Suisse Group restated a “neutral” rating and issued a $58.00 price objective (up previously from $39.00) on shares of Portola Pharmaceuticals in a research report on Monday, June 26th. Citigroup Inc. set a $51.00 price objective on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, April 19th. ValuEngine upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Oppenheimer Holdings, Inc. set a $46.00 price objective on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, May 9th. Finally, Morgan Stanley upped their price objective on shares of Portola Pharmaceuticals from $50.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, June 26th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $62.27.
In other Portola Pharmaceuticals news, Director Jeffrey W. Bird bought 119,442 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was bought at an average cost of $31.85 per share, with a total value of $3,804,227.70. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $95,550. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tao Fu sold 5,812 shares of the business’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $65.00, for a total transaction of $377,780.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,289,656 shares of company stock valued at $91,298,131. 4.90% of the stock is currently owned by insiders.
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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